Articles from The Hackett Group

The Hackett Group, Inc. (NASDAQ: HCKT) today announced that it will release financial results for the fourth quarter ended December 27, 2024 on Tuesday, February 18, 2025 after the close of regular market hours.

Generative artificial intelligence (Gen AI) is reshaping the finance landscape, disrupting traditional operations and pushing the boundaries of what’s possible. As finance organizations face increasing pressure to increase innovation and cut costs, Digital World Class® organizations are uniquely positioned to leverage Gen AI to foresee the future and uncover new opportunities for faster transformation.

The Hackett Group, Inc. (NASDAQ: HCKT) is proud to announce the launch of its highly anticipated AI XPLR™ 2.0 platform at its Gen AI Breakthrough Conferences in London (October 9-10) and Atlanta (October 13). This next-generation AI platform introduces a groundbreaking set of features designed to transform how businesses harness Gen AI for breakthrough impact.

As companies face significant uncertainty, including the potential for stalled global economic growth, high interest rates and possible labor and skills shortages, human resources (HR) teams expect to feel increased pressure, including a growing workload and the need to enable the success of business stakeholders, according to new HR Key Issues research from The Hackett Group, Inc. (NASDAQ: HCKT). HR leaders also see generative AI (Gen AI) and other technologies as key to improving efficiency and effectiveness.

Improving spend cost reduction has taken over the top priority spot for procurement executives for the coming year, as companies face concerns over their ability to continue to grow revenue, high interest rates, fears of recession, and the potential for labor and skill shortages, according to new Procurement Key Issues research from The Hackett Group, Inc. (NASDAQ: HCKT). Procurement leaders are also actively evaluating how generative AI (Gen AI) can help them improve both efficiency and effectiveness in a range of functional areas.

Human resources (HR) operating costs increased significantly in 2023, with key contributors being wage inflation and high turnover rates, according to new Digital World Class® HR research from The Hackett Group, Inc. (NASDAQ: HCKT). Our elite HR performers – Digital World Class – continue to spend significantly less than their peers, while operating with fewer HR staff and delivering far more resiliency, employee productivity, greater business value, and improved operational excellence, the research found. The Hackett Group® concluded that increased spend on technology plays a key part in driving the superior performance.

Generative artificial intelligence (AI) technologies will have a profound potential impact on selling, general and administrative (SG&A) costs and staffing, enabling reductions of up to 40% over the next five to seven years, according to new research from The Hackett Group, Inc. (NASDAQ: HCKT). The detailed analysis of current SG&A costs engaged proprietary performance benchmarks from The Hackett Group® to quantify for the first time the potential impact Generative AI will have on SG&A, including finance, procurement, human resources, information technology, marketing, sales and other functions.

Procurement operating costs at typical companies increased for the first time in more than a decade this year, in response to unprecedented uncertainty, including supply disruptions, inflationary pressures, and environmental, social, and governance initiatives, according to new Digital World Class® research from The Hackett Group, Inc. (NASDAQ: HCKT).

For the first time in decades, most finance organizations experienced a significant increase in operating costs in 2023, driven by inflationary pressures, geopolitical unrest and other uncertainty factors, according to new research from The Hackett Group, Inc. (NASDAQ: HCKT). During this same period, Digital World Class® finance organizations were highly resilient and managed to reduce costs to nearly half that of their peers while delivering dramatic improvements in value, including efficiency, effectiveness and customer experience.

By fully embracing digital transformation, IT organizations can achieve superior levels of efficiency and effectiveness, including 19% lower cost, 3x more projects delivering targeted ROI, improved agility, and enhanced customer experience, according to new Digital World Class™ IT research from The Hackett Group, Inc. (NASDAQ: HCKT).

By fully embracing digital transformation, finance organizations can achieve superior levels of efficiency and effectiveness, including 43% lower cost, improved agility, and enhanced customer experience, according to new Digital World Class™ finance research from The Hackett Group, Inc. (NASDAQ: HCKT).

The pandemic drove significant changes in working capital performance among the 1000 largest non-financial U.S. companies in 2020, according to new research from The Hackett Group, Inc. (NASDAQ: HCKT). Drops in revenue and cost of goods sold were seen in many industries, and this was a major factor affecting overall working capital performance, the survey found. But companies also dramatically slowed payments to suppliers, and disrupted demand and unsold products drove inventory to higher levels. In addition, companies increased their cash on hand by 40% to protect themselves from the impact of the pandemic, and continued to accrue debt at record levels, with debt rising by 10% year-over-year. Capital expenditures also fell to record low levels, as companies cut spending and conserved cash in anticipation of further market uncertainty.

In response to the worldwide calls for social reform and racial equality, companies are making plans to dramatically expand their Supplier Diversity programs over the next few years, according to a new study from The Hackett Group, Inc. (NASDAQ: HCKT).

2021 will be a year of experimentation and adaptation for CIOs and their technology organizations, driven by the ongoing needs of the pandemic and a dramatic increase in enterprise focus on digital transformation, according to 2021 IT Key Issues Research from The Hackett Group, Inc. (NASDAQ: HCKT).

In response to the business environment related to the global pandemic, spend cost reduction and supply risk management are back at the top of the procurement agenda, according to new Key Issues Research from The Hackett Group, Inc. (NASDAQ: HCKT). In 2021, the most popular initiatives for procurement teams are to improve data and analytics, accelerate digital transformation through the implementation of cloud-based suites and best-of-breed solutions, and pilot emerging technologies.

In response to the global pandemic, corporate finance priorities have shifted significantly for 2021, according to new Key Issues research from The Hackett Group, Inc. (NASDAQ: HCKT). Becoming a strategic advisor is now the top priority, followed by the need to reduce cost and improve efficiency, the research found. Analytics and modeling capabilities have also become dramatically more important, and finance is also focused on digital transformation, with plans to increase the use of cloud-based tools, robotic process automation, cognitive, and other emerging technologies.