CFO.com recently sat down with a number of information technology experts, tech-savvy CFOs and futurists to help sort through a myriad of new technology innovations to determine which ones will have the biggest impact on business over the next five years.
The intent was to help bring clarity to the sometimes-overwhelming array of products, software, systems and other technology innovations that many CFOs need to sign off on but few understand fully.
Below you will find the CFO.com Top Ten Technologies, their estimated time of arrival (ETA) into mainstream business, and a quick comment by CFO.com for each. Click on the hyperlink for details for each innovation.
- XBRL (Extensible Business Reporting Language) - ETA: 1 year
This standard for financial data vastly improves the accuracy and speed of corporate reporting. Unfortunately, it's still not standard fare for most finance departments.
- Business Intelligence - ETA: 2 years
Advanced search agents and next-gen BI software will dramatically change the way finance employees -- and a lot of other workers -- do their jobs.
- Wireless Connectivity - ETA: 2years
Wi-Fi networks will stretch the boundaries of the office, and productivity. But standards and roaming technology snags will have to be hammered out before pervasive computing is, well, pervasive.
- Grid Computing - ETA: 2years
Asset allocation comes to processing power. The result? Faster -- and cheaper -- computing.
- Multivariable Testing (MVT) - ETA: 3 years
What do the front page of the National Enquirer and phone repair have in common?
- Digital Cryptography - ETA: 3 years
E-commerce won't reach its true potential until a single security standard for digital transactions is in place. That may take some doing.
- Rich Media - ETA: 4 years
Following 9/11, corporate interest in video and Web conferencing surged. Better products are on the way -- but limited bandwidth may leave some users disappointed.
- Internet2 - ETA: 5 years
While not as earth-shattering as the original, this sequel will move E-commerce to a whole new level.
- Biometrics - ETA: 5 years
With identity theft and terrorism now constant threats, corporations have begun to see the value of biometrics.
- Small Technology - ETA: 5 years
Computer displays you can tote around with one hand? Plastics almost as strong as steel? Improved drug efficacy? Micro-managing finally pays off.