A potential recession is a very real concern and is forcing CFOs to find ways to cut costs, increase efficiency, and improve cash management.
The good news is CFOs are used to tackling the most complex challenges—one look at the role CFOs have played over the past three years tells its own story. Now, as the economy slows, it’s time for careful cost cutting while eying opportunities growth.
To learn how CFOs are balancing budgets and business priorities, NetSuite and CFO.com surveyed 500 CFOs and executives from organizations with $250 million or less in annual revenue. Here’s what our survey found.
As the Fed battles inflation, organizations are looking to cut costs and improve efficiency.
The survey finds that budget cuts may impact employee retention, as many managers report they are looking to leave and worry about “quiet quitting” among their team members.
To deal with inflation and a possible recession, CFOs are doubling down on technology to help their teams achieve more with less.
There’s no doubt that CFOs face a new reality for workforce management. A confluence of factors including demands for higher salaries, a historically small hiring pool, and increasing employee desire for flexible working arrangements make balancing budgets and business priorities more complicated. The survey reveals that business leaders are confident that their finance teams will meet these challenges in 2023.
Download the full report, “CFO 2023 Outlook: Cautious optimism amid recession, cost cutting, and workforce challenges.”