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Most CFOs consider declining customer demand and shrinking working capital as the key short-term challenges for their organizations
More than 40% CFOs are concerned with the relevancy of their existing business model in the new normal
As of today, more than 50% of the CFOs are focused on reassessing their business strategies factoring in the current environment
The Everest Group Global CFO Survey 2020, supported by WNS, aimed to find out how CFOs’ roles and business imperatives were evolving in the wake of the global pandemic and the ensuing economic downturn. This extensive study witnessed the participation of more than 300 global CFOs from over 20 industry sectors.
“More than 90 percent of organizations experienced material business disruption due to COVID-19, with global organizations worse hit than regional organizations.”
All the key findings obtained through the survey have now been put together in a summarized research report. It captures what CFOs think are their biggest short-term and long-term concerns, their topmost priorities in the new normal and the most important considerations for building a future-ready finance organization. Here are a few forward-looking insights from the report:
In the short-term, 62 percent of CFOs consider a work-from-home model as a significant priority
49 percent of CFOs are focusing on increasing the adoption of digital technology to improve productivity, customer experience and control
More than 50 percent of CFOs consider embedding more robust BCP plans essential to preparing for the new normal
This report is a must-read for all finance leaders and executives who are looking to insulate their organizations from short-term and long-term challenges, and build a resilient and future-ready finance organization.