National Association of Production Accountants study finds that 93% of industry professionals agree they can benefit from digital solutions, but industry currently driven by opposing forces
To evaluate the entertainment industry’s current state and the attitudes and behaviors that are guiding it, The National Association of Production Accountants (NAPA), recently conducted a study, sponsored in-part by GreenSlate, with over 500 industry professionals, including producers, accountants, finance executives, and other key industry players.
The study revealed that while production office professionals recognize the opportunities and benefits of going paperless and digital with better features and capabilities for optimizing workflows, the industry is driven by opposing forces: enthusiasm and inertia.
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Digital adoption in the production office has the potential to drive efficiency, simplicity, and accuracy for production teams everywhere with digital employee onboarding, timecards, production reports, accounting forms, and more.
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Outside of the entertainment industry, most industries have already realized the productivity gains and other benefits of digital adoption: they are now exploring new ways to leverage big data and building tools that can help inform better business decisions.
Will the business of production follow a similar path as other sectors?
- The industry acknowledges that digital solutions have a lot to offer production offices.
- Most respondents are already using digital solutions in some capacity and are generally satisfied with what they’ve seen. This satisfaction, along with the possibility of further improvement from new features, has created a positive sense of enthusiasm around digital.
- While digital solutions have a lot to offer and industry professionals are aware of these advantages, few are using digital solutions in all areas of production.
- Whether it is because they lack time to conduct research, are uncertain about change, or don’t have consensus on priorities, there is a palpable sense of inertia.
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Industry professionals overwhelmingly agreed that they could benefit from digital solutions (93%).
SOURCE The National Association of Production Accountants