Business Technology Report 2021

As organisations around the world adapt to changing work environments and consumer behaviour brought about by the COVID-19 pandemic, one consequence has been the acceleration of technology adoption by businesses.

This report analyses data from CPA Australia’s survey of technology usage by businesses. The survey was conducted from 28 May to 1 July 2021. A total of 725 responses were received from accounting and finance professionals in Australia (120), Mainland China (173), Hong Kong and Macau (157), Malaysia (155) and Singapore (120).

Respondents came from a variety of different industries, with the accounting (18.3 per cent), banking, finance or insurance (14.8 per cent) and consulting (9.8 per cent) industries providing the largest share. The size of the business that respondents worked for was most likely to be 1000 or more employees (39.1 per cent) or fewer than 50 employees (25.9 per cent). Respondents were most likely to be a manager / supervisor, professional or hold a C-suite position.

The survey collected data on the different technologies used by businesses, expected investment in or use of technologies in the next 12 months, the technology-based projects businesses undertook, the drivers of technology adoption and the challenges to adoption.

The survey found that video conferencing and group collaboration tools, new payment technologies and cloud technology were the technologies that businesses were most likely to have used in the past 12 months.

Improving operational efficiency and cost savings were the key reasons for using technology. Most respondents expect their business to invest in additional technology in the next 12 months.

The survey findings demonstrate the strategic importance of organisations investing in and effectively using technology, and enhancing their digital capability. Businesses that have been digitally transformed are better placed to deliver additional value to customers and handle future disruptions.