Innovators and early adopters, by nature, are an optimistic and future-oriented bunch. When new technology is involved, the glass is always half-full However, it’s important to keep on pulse on the rest of the market players especially among those who hold the keys to the castle vaults. Financial professionals tend to be more risk-averse unless a clear ROI justification is laid out. As the gate-keepers to IT and operational budgets, it’s valuable to understand where they sit with IoT.
In a recent poll conducted by the Association for Financial Professionals (AFP), “only 11 percent of the 279 finance and treasury professionals said their organizations were “fully” or “very” prepared for blockchain, IoT and robotic process automation.” While “more than a third (36 percent) of respondents said their organizations were “minimally prepared” or not at all ready.”
The poll further stated that the biggest barriers for financial professionals is “awareness and engagement.” An important note for the IoT product and service providers’ marketing teams to realize and to focus efforts around moving forward. As a key part of the buying group, these B2B marketers should be targeting financial professionals within key accounts to help build awareness and engagement.
As the article stated, “The benefits of new technology for finance and treasury are clear: increased productivity, reduced costs and better decision-making,” Kaitz said in a statement. “However, the challenges are just as clear: lack of control over technology, cybersecurity, company-wide consistency, maintaining employee skills, and the potential loss of jobs.”
Planning and implementing the IoT has significant upsides bit getting everyone on-board and comfortable with the risks, will take greater levels of education across the market and assistance from product and service providers.