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Rising Cyber Threats Drive CFOs to Prioritize Data Security and Privacy, Increasing Focus on FP&A and Gen AI, States Protiviti’s Latest Global Finance Trends Survey

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Generative AI is becoming table stakes, with 44% of finance departments in publicly held organizations employing this technology

MENLO PARK, Calif., Sept. 10, 2024 /PRNewswire/ — The pressure of new cybersecurity disclosure requirements and the rising threats of cyber warfare and extortion have pushed data security and privacy to the top of the priority list for finance leaders. The annual Global Finance Trends survey conducted by consulting firm Protiviti finds that 61% of CFOs and finance leaders rate data security and privacy as a high priority in the coming year, followed by financial planning and profitability analysis and strategic planning.

The finance function is increasingly feeding the demands of stakeholders hungry for non-financial, structured and unstructured data. Coupled with the growing need for sophisticated controls, accuracy assurance and compliance savvy to safeguard this data, there is a shift in the role of CFOs, to elevate their responsibilities for data governance and for ensuring appropriate investments are made in cybersecurity capabilities. The survey also found that generative AI is now being employed by one in three finance organizations, with process automation and financial forecasting representing the most common uses of the technology.  

“In previous survey years, many would have raised their eyebrows at CFOs partnering with CISOs on security and privacy data concerns, as these would have fallen in the CISO’s purview,” said Christopher Wright, global leader of Protiviti’s Business Performance Improvement solution. “Now, new cybersecurity disclosure and reporting requirements, along with customers’ and vendors’ growing expectations for organizations to keep data private and secure, also require the CFO’s hands on the wheel to remain compliant and maintain high data governance standards.”

Generative AI Moves Forward in Finance
CFOs and other finance leaders are focused on advancing generative AI deployments that can support increasing revenue and improving profitability. The survey found that among those finance organizations employing generative AI (34% of all respondents), 58% have achieved meaningful and measurable progress in their cost optimization efforts. In addition, 44% of public organizations are employing generative AI in finance, whereas only 29% of private organizations are doing the same.

“Generative AI has immediate benefits for financial organizations, such as process automation and financial forecasting,” said Wright. “CFOs and finance leaders have been using AI tools to generate valuable returns in both budgeting, forecasting and cash flow management and cost optimization. The Finance Trends Survey points out that the finance functions are using AI to help process large data pools in efficient ways. This is especially crucial within a function that is so data heavy and for which it is imperative to process both structured and unstructured data.”

Financial Planning and Analysis (FP&A) is Second Highest Priority
Effective FP&A practices have become essential as companies continue to satisfy the mandate to drive value and optimize costs. Results indicate that 69% of finance leaders and professionals in public organizations consider financial planning and profitability analysis and reporting to be a top priority for the upcoming year.

A majority of CFOs and finance leaders (57%) report achieving meaningful, measurable progress in cost optimization in both technology rationalization and utilization of cloud-based systems.

ESG reporting also continues to be a priority for finance leaders, with 59% of publicly held organizations indicating a high level of preparedness for ESG reporting, compared with 47% of private organizations.

Top 10 Priorities

In the survey of over 950 global finance leaders, including CFOs, vice presidents, directors and managers, conducted online in the second and third quarters of 2024, participants ranked their priorities for the coming year. The results indicate the top 10 finance priorities are:

2024 Rank

2023 Rank

1

Security and privacy of data

5

2

Financial planning and profitability analysis and reporting

N/A

3

Strategic planning

6

4

Routine reporting and closing activities

10

5

Process improvement

11

6

Leadership (within your organization)

23

7

Enhanced data analytics

7

8

Cloud-based applications

9

9

ESG metrics and measurement

1

10

Changing demands and expectations of internal customers

15

*In this year’s survey, we consolidated and reduced the number of finance areas that respondents rated from 24 to 15.

Survey Resources Available
Key findings of the Protiviti 2024 Finance Trends Survey are available here for digital exploration on the firm’s website. The site also offers a complimentary download of the full survey report in PDF format, including recommended action items for CFOs, and an infographic. On Sept. 24 and Oct. 24, Protiviti will host two complimentary 60-minute webinars to discuss the survey results and their implications.  To attend the webinars, register here.

About Protiviti
Protiviti (www.protiviti.com) is a global consulting firm that delivers deep expertise, objective insights, a tailored approach and unparalleled collaboration to help leaders confidently face the future. Protiviti and its independent and locally owned member firms provide clients with consulting and managed solutions in finance, technology, operations, data, digital, legal, HR, risk and internal audit through a network of more than 90 offices in over 25 countries.

Named to the Fortune 100 Best Companies to Work For® list for the 10th consecutive year, Protiviti has served more than 80 percent of Fortune 100 and nearly 80 percent of Fortune 500 companies. The firm also works with government agencies and smaller, growing companies, including those looking to go public. Protiviti is a wholly owned subsidiary of Robert Half (NYSE: RHI).

 

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SOURCE Protiviti

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Zentera Systems Sponsors Zero Trust Architecture Implementation Summit, Showcasing Industry-Leading Zero Trust Strategies

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57 mins ago

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September 22, 2024

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Top Cybersecurity Experts Unite in Taiwan to Share Real-World Zero Trust Solutions and Strategies

MILPITAS, Calif., Sept. 22, 2024 /PRNewswire/ — Zentera Systems, Inc., the leader in Zero Trust Security for the digitally-transformed enterprise, today announced that it is co-sponsoring and co-hosting the Zero Trust Architecture Implementation Summit in conjunction with Taiwan National University of Science and Technology. The event will take place on October 3, 2024, at the Renaissance Taipei Hotel, and will bring together top cybersecurity leaders to explore evolving challenges and practical strategies for implementing Zero Trust architecture.

The event will feature a special keynote by Dr. Chase Cunningham (also known as “Dr. Zero Trust“) – a cybersecurity advisor to the U.S. government, former Vice President and Principal Analyst at Forrester, and a consultant on the NIST SP800-207 Zero Trust Architecture. Dr. Cunningham will be speaking on “From Revelation to Application: New Cyber Threats and the Realities of Zero Trust Implementation,” sharing his extensive experience and insights on implementing Zero Trust security. Having played a critical role in the development of the Zero Trust framework from its inception, Dr. Cunningham will help businesses and organizations understand the key challenges they may encounter during the planning and deployment process, along with the strategies and actions they should take to ensure their security frameworks are robust, effective, and adaptable to the ever-evolving cyber threats.

Dr. Jaushin Lee, Founder and CEO of Zentera Systems, will also present “From Theory to Practice: How to Make the Zero Trust Goal Actionable and Attainable.”  Lee will also moderate a panel featuring industry experts, including Robert Jin, CISO at ASUS Group, and Thomas Wan, General Manager at Ernst & Young Management Consulting Co., and Dr. Ying-Dar Lin, Deputy Director of the National Institute for Cyber Security (NICS). The panel will discuss strategies for successful Zero Trust implementation across various industries.

“As cybersecurity threats to Taiwanese industries intensify, Zero Trust offers an indispensable framework to secure digital assets. At Zentera, we are committed to providing the tools and insights necessary to help companies achieve real-world Zero Trust implementation,” said Jaushin Lee. “We are proud to contribute to this summit and help businesses transform Zero Trust theory into practice.”

The Zero Trust Architecture Implementation Summit promises to provide actionable insights for organizations looking to enhance their cybersecurity posture. Attendees will gain valuable knowledge from real-world case studies and expert discussions on overcoming the challenges of Zero Trust adoption.

Don’t miss this opportunity to learn from industry leaders. Register now for insights that will transform your Zero Trust strategy. To learn more about how Zentera’s solutions can transform your Zero Trust journey, visit our web site.

About Zentera Systems, Inc.

Zentera Systems is the leader in Zero Trust Security solutions for the digitally-transformed enterprise. Founded by experts in networking, security, and remote access, the company offers award-winning Zero Trust networking, security, and multi-cloud connectivity that overlays any fragmented infrastructure and deploys rapidly on premises or in the cloud. Global enterprises use Zentera’s products to secure employee and third-party access, protect against data leaks, and instantly defend applications in complex hybrid and IT/OT environments. The Silicon Valley-based company has received numerous recognitions, including Cool Vendor for Cloud Security by Gartner.

Press Contact: Katie Quaranta, PR Manager, +1 (949) 236-6448 x 770, https://www.zentera.net/

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SOURCE Zentera Systems, Inc.

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DANAconnect and eSource Capital Launch PayrollTrace for Digital Payroll Compliance

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4 hours ago

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September 22, 2024

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PayrollTrace is an innovative, secure platform for paperless payroll receipt delivery, ensuring regulatory compliance and real-time traceability.

FORT LAUDERDALE, Fla., Sept. 22, 2024 /PRNewswire-PRWeb/ — DANAconnect, the leading company in automated business communications, in collaboration with eSource Capital, a prominent Google Cloud Partner in Latin America, announce the launch of PayrollTrace, an innovative platform designed for the secure and efficient digital delivery of payroll receipts, ensuring regulatory compliance and complete traceability in every transaction.

Paul Kienholz, CEO of DANAconnect, highlighted: “PayrollTrace is the next step in automating critical business processes, enabling companies to eliminate paper and manage payroll receipt deliveries with full confidence and transparency, while ensuring regulatory compliance.”

PayrollTrace automates the delivery of payroll receipts through multiple channels, including email and SMS, completely eliminating the use of paper or reliance on email. This solution not only simplifies human resources processes but also ensures regulatory compliance with verifiable technical reports that allow companies to manage and audit receipt deliveries in real time.

Paul Kienholz, CEO of DANAconnect, highlighted: “PayrollTrace is the next step in automating critical business processes, enabling companies to eliminate paper and manage payroll receipt deliveries with full confidence and transparency, while ensuring regulatory compliance.”

Juan Aguilera Franceschi, Managing Partner at eSource Capital, added: “Our partnership with DANAconnect allows us to offer companies in the region a robust solution that optimizes payroll management. PayrollTrace provides the security and flexibility companies need to manage payments efficiently and sustainably.”

The partnership between DANAconnect and eSource Capital combines DANAconnect’s strength in omnichannel business communications with eSource Capital’s expertise in cloud digital transformation. Together, they aim to provide businesses across the Americas with a comprehensive solution that not only optimizes payroll delivery but also ensures compliance with local regulations, guaranteeing that every transaction is backed by complete audits.

About DANAconnect

DANAconnect is a North American company and a leader in communication automation for financial companies through its omnichannel platform. It sends communications to more than 10% of the population of the Americas every month, ensuring secure deliveries, traceability, and large-scale regulatory compliance.

About eSource Capital

eSource Capital is a leading Google Cloud partner in Latin America, specializing in digital transformation and cloud solutions. With a focus on Google Workspace and Google Cloud, eSource Capital helps companies optimize their operations in the digital environment.

Media Contact

Fabiana Arroyo, DANAconnect Corp., 1 8556003262, info@payrolltrace.com, https://www.payrolltrace.com

Twitter, LinkedIn

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SOURCE DANAconnect Corp.

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Siemon Announces Optical Patching Solutions for GenAI Networks Using NVIDIA Accelerated Computing

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10 hours ago

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September 22, 2024

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Siemon announces it is offering its full range of optical patching solutions to work specifically with NVIDIA AI infrastructure for generative AI networks.

WATERTOWN, Conn., Sept. 22, 2024 /PRNewswire-PRWeb/ — The Siemon Company, a global leader in network infrastructure solutions, today announced it is offering its full range of optical patching solutions to work specifically with NVIDIA AI infrastructure for generative AI networks. Large complex GPU clusters can benefit from using structured cabling patch panels versus point-to-point cabling. Siemon acts as a trusted advisor to customers by providing expert advice and best practice recommendations for design & deployment of NVIDIA AI Infrastructure.

“Siemon is very familiar with NVIDIA reference architectures and has worked with many customers to design and deploy NVIDIA clusters… Siemon offers a full range of AI-ready fiber cabling, DAC, and AOC solutions that support 400G, 800G, and 1.6T applications.”

As part of the solution integration, Siemon has joined the NVIDIA Partner Network (NPN) as a Solution Advisor Consultant. NPN Solution Advisor Consultants provide consultation services and expert advice to customers looking to implement NVIDIA-based solutions or technologies. Siemon joins the network to offer its expertise in addressing the unique infrastructure and cabling challenges presented by accelerated computing.

NVIDIA optical reach specifications are calculated assuming two optical patch panels are used in the link and assuming each employ two optical connectors, which makes for a total allowance of four optical connectors in the link. The Siemon optical patching solutions meet NVIDIA requirements and provide customers with flexibility and ease of management.

Media Contact

Brian Baum, Siemon, 1 8609454200, brian_baum@siemon.com

View original content:https://www.prweb.com/releases/siemon-announces-optical-patching-solutions-for-genai-networks-using-nvidia-accelerated-computing-302254640.html

SOURCE Siemon

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