Technology’s expanding role in business: Why it matters more than ever – read Albert Nigro’s feature article in Business First
June 12, 2025 | Authored by Albert A. Nigro CPA, CVA
June 6, 2025 – Albert A. Nigro, CPA, CVA recently authored a guest column in Business First of Buffalo.
Technology’s expanding role in business: Why it matters more than ever
In today’s fast-moving business world, technology isn’t just a background topic — it’s the main conversation. From prime-time segments on business television to dedicated sections in major publications like the Wall Street Journal, technology now dominates how we discuss growth, innovation, and investment. But this is more than just media noise. The numbers tell a clear story: technology is reshaping how companies operate, invest, and plan for the future.
Following the money helps us understand this momentum. Crunchbase’s Q3 2024 funding data reveals that artificial intelligence (AI) alone attracted $19 billion in venture capital within just three months. That’s over 25% of all venture capital funding for the quarter — an astonishing figure that shows how central AI, machine learning, automation, and generative technologies have become to innovation. Startups focused on these areas are not just surviving; they’re leading the pack.
Public markets reflect a similar trend. Today, according to Barron’s, approximately 40% of the S&P 500 consists of technology companies — over double the 19% share they held in 2013. The Nasdaq is even more tech-heavy, with over 55% of its companies rooted in the technology sector. These statistics are not just numbers; they show a decisive pivot by investors toward tech-forward strategies.
From the enterprise perspective, the 2025 Deloitte Chief Transformation Officer Study echoes this shift. The study found that external pressures — like the rise of new technologies and a rapidly evolving competitive landscape — are among the most important transformation drivers for businesses. Over 65% of transformation officers identified technology modernization as their primary area of focus. More strikingly, compared to Deloitte’s 2022 report, companies today are reporting up to 2.5 times more investment in technology. The message is clear: businesses aren’t just dabbling in technology — they’re going all in.
Organizations of all sizes and industries are not only investing in technology but are becoming more strategic and thoughtful in how they choose it and implement it. Business leaders often start by addressing two essential questions: “why” and “how.”
The “why” focuses on the outcomes a particular technology can deliver. Companies are increasingly turning to technology:
- To enhance the customer or client experience,
- To boost employee performance and satisfaction,
- To streamline and optimize internal processes,
- To gain better insights into business drivers,
- To reduce risk and ensure continuity,
- And, ultimately, to drive growth and profitability.
Once the “why” is clear, business leaders turn to the “how.” Before considering specific technology tools or platforms, leaders often start by determining what capabilities they need, such as:
- Data analytics and business intelligence,
- Artificial intelligence,
- Seamless system integration,
- And process automation.
After working through this process, business leaders are better positioned to select the specific technology tools that are best for their organization, to execute their strategy and drive value.
As business leaders, owners, and stakeholders, it’s time to reflect on how technology fits into your strategy. It should start with a discussion — not just about tools and platforms — but about purpose, outcomes, and long-term vision. Technology isn’t just part of the conversation anymore. It is the conversation.
For more information, contact Albert A. Nigro, CPA, CVA at anigro@dopkins.com.
To read the article on the Business First of Buffalo website, click here.
The Client Accounting & Advisory Solution (CAAS) of Dopkins & Company, LLP is centered on helping our clients transform the accounting and finance function of their businesses to more effectively confront challenges and seize opportunities that drive business results and create value. To learn more, visit Dopkins at www.dopkins.com/CAAS.
Dopkins & Company, LLP also offers comprehensive accounting, auditing and tax services, forensic accounting, outsourced accounting, as well as wealth management consulting, internal audit support and capital advisory services to privately held and public companies, not-for-profit organizations and individuals.
About the Author
Albert A. Nigro CPA, CVA
Albert A. Nigro CPA, CVA is a partner in the Tax Advisory Group of Dopkins & Company, LLP. As the leader of Dopkins CAAS team, he focuses on developing solutions for clients to help them improve their finance and accounting functions through re-engineered processes, digital transformation and optimal utilization of talent.
