The world has changed a lot in the past ten years. The rapid development of new technology and the changing landscape of the online world has changed the way we work and, for many, where we do our work from. Though this change has been gradual, a massive shift has taken place. For example:
- There were 972 million internet users in 2005. Today there are over 3 billion Internet users.
- By 2013, there were officially more mobile devices than people on earth.
- In 2005 only 68.7 percent of adult Americans owned cell phones; and a mere 42 percent of owners said they leave their cell phone on “always.”
- Ten years ago our pockets weren’t large enough to hold a music player. Today, streaming via the cloud is the norm with 75% of the population saying they listen to music online. In fact, Americans streamed 164 billion on-demand tracks across audio and video platforms in 2014, up from 106 billion in 2013.
With so many drastic changes to technology, it’s no surprise that the CFO landscape has also evolved dramatically over the last decade. Market innovation and huge strides in technology have made such change inevitable. There’s new data, new metrics, new technologies. From big data and network effects, to the subscription economy and cloud computing, modern finance is undergoing its most fundamental transformation ever.