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Companies Tap Automation, Tech For Profit Margins: EY

The EY CEO survey 2022 of more than 2,000 chief executives in 53 countries and across 14 sectors showed the growing importance of environment, sustainability, and governance in the agenda of chief executives

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Earnst & Young (EY) has released EY CEO survey 2022. The global survey of more than 2,000 chief executives in 53 countries and across 14 sectors. says that amid an increase in input costs, many businesses are seeking to protect profit margins through the deployment of digital and technological measures and upskilling employees to higher-value activities.

The survey also showed the growing importance of environment, sustainability and governance in the agenda of chief executives with 78% of the respondents identifying these factors as extremely important or important, when it comes to strategic decision making.

Additionally, the server also showed that the ongoing geopolitical tensions are also making Indian CEOs to readjust their supply chains to manage geopolitical risks or reduce logistic costs and uncertainty.

“As companies see a significant increase in input prices, automation and technology offer tremendous potential for chief executive officers looking to drive transformation in their organization and to pivot employees to higher-value activities. In parallel, the severe push towards digitisation has led organizations to upskill their existing workforce," EY said in the statement.

EY said in a statement that almost half of the respondents expected to improve their business’ profit margins through digital and technological interventions while adding that almost half of the respondents expected to improve their business’ profit margins through digital and technological interventions.

“There is no doubt that Indian CEOs are leading from the front to combat the challenges emanating from the pandemic and geopolitical tensions…They are increasingly looking at mergers and acquisitions as a lever for accelerating business transformation and long-term value creation," the statement said quoting Rajiv Memani, Chairman, EY India.  


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