CFOs See Silver Linings to Coronavirus Crisis

Malinda B. Edwards

The coronavirus pandemic has spurred unexpected improvements at U.S. firms and pushed CFOs to reprioritize technology investment decision, in accordance to a Grant Thornton survey.

The accounting company described that more than sixty% of CFOs cited improved adaptable and remote do the job environments as an upside of the pandemic, with 40% also noting improved collaboration, improved organization procedures, and an potential to much better aim on technique.

Amid the change to remote do the job, sixty one% of finance chiefs indicated that they count on to enhance investment decision in cybersecurity in the subsequent 12 months. When questioned to identify the a few major problems facing their firms, forty six% indicated cybersecurity risks, forty six% selected technology updates, and 30% reported remote workforce difficulties.

Fifty-a few percent of respondents are prioritizing prolonged-expression foundational technology infrastructure investment decision more than technology that addresses fast organization wants (47%).

“A 12 months back, CFOs were scrambling just to survive, but occasionally a disaster can speed up optimistic modify,” Chris Schenkenberg, regional tax organization traces countrywide handling lover at Grant Thornton, reported in a information release.

CFOs skewed damaging on taxes, with 39% indicating the Biden administration’s tax options will negatively impression their enterprises. Amid firms with more than $1 billion in revenue, fifty five% count on tax modifications to have a damaging impression, although only 29% of firms with revenues concerning $101 and $500 million felt the exact.

The survey also revealed that several CFOs prepare to slash journey and genuine estate fees in the coming 12 months and past and more than fifty percent prepare to enhance investment decision in their companies’ DE&I (variety, fairness, and inclusion) and ESG (environmental, social, and governance) practices.

CFOs skewed damaging on taxes, with 39% indicating the Biden administration’s tax options will negatively impression their enterprises. Amid firms with more than $1 billion in revenue, fifty five% count on tax modifications to have a damaging impression, although only 29% of firms with revenues concerning $101 and $500 million felt the exact.

Indicating the distinctive purpose acquisition business growth of 2020 will proceed, eighty four% of personal business respondents reported SPACs have enhanced their interest in going general public. When questioned no matter if a SPAC or a classic IPO would be their alternative, respondents were pretty much similarly break up, with 49% choosing a SPAC and fifty one% choosing an IPO.

Far more than two-thirds of CFOs, having said that, count on enhanced SPAC regulation from the Securities and Trade Commission in 2021 although fifty five% consider SPACs leave new general public firms overvalued.

coronavirus, ESG, Grant Thornton, remote do the job, SPACs, survey, Engineering

Next Post

Session Replay, Warmth Maps And Type Analytics Mixed With Advanced Reporting Instruments

With our greatest-selling course Begin-a-Enterprise one zero one. Cooking classes have turn into rather more than just a strategy to instruct folks in cooking. They’ve develop into more of a social event the place for example, couples take pleasure in a cooking class collectively, get to meet some other individuals, […]