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The COVID-19 pandemic has forced CFOs to enhance resilience, with advanced data analytics helping to address external risks such as cyberattacks, tariff wars, and climate change.
Global IT spending in 2021 is expected to grow 6.2% to $3.92 trillion, and CFOs need to accelerate digital transformation while being wary of three major mistakes: underestimating transformation complexity, vendor contract proliferation, and neglecting change management. Experts recommend improving success rates through strategic alignment, total cost of ownership analysis, and enhanced communication.
Lawyers anticipate that under the Biden administration, the U.S. Securities and Exchange Commission (SEC) will strengthen scrutiny of corporate financial disclosures and internal control processes, focusing on pandemic-related reports, ESG performance, and SPAC transactions.
M&A activity has shown signs of recovery after a prolonged pandemic-induced lull and may reach a peak in 2021. The Biden administration's proposed tax and regulatory reforms, including raising corporate tax rates and capital gains taxes, could increase deal costs, prompting sellers to seek higher valuations. Analysts believe that 2021 is a window period to complete deals before new regulations take effect.
Cloud computing helped enterprises reduce fixed costs and enable remote work during the pandemic, but many CFOs have found significant waste in cloud spending, with typical enterprises wasting up to 35%. This article interviews experts from Protiviti, Ensono, CloudCheckr, and other organizations, proposing four strategies—tag-based budgeting, establishing a cloud center of excellence, mastering cloud concepts, and incentivizing employees to identify waste—to help financial executives balance innovation and financial control.
In 2021, CFOs must address the growing scrutiny of ESG metrics from investors, regulators, and the public. Several financial executives and experts point out that CFOs should act as the "chief cheerleaders" for ESG, integrating it into corporate strategy through systematic reporting mechanisms, a focus on long-term planning, and driving cultural change, thereby reducing the cost of capital, enhancing reputation, and mitigating regulatory risks.
As the pandemic response enters a new phase, CFOs in 2021 need to refocus on five key trends—ESG disclosure, the LIBOR transition, digital budgeting tools, real-time data capabilities, and hybrid work models—to navigate uncertainty and seize growth opportunities.
In 2020, Gilead Sciences invested more than $27 billion in a series of deals to build its oncology franchise, seeking to transform from an antiviral giant into a leader in cancer treatment. This article reviews its deal trajectory, strategic shifts, and market reactions.