CFOs Anticipate Growth Despite Economic Challenges, According to FTI Consulting’s 2024 Global CFO Report
11 Gennaio 2024 - 1:30PM
Chief financial officers are expecting growth over the next 12
months despite inflation remaining the top challenge, according to
findings from a new survey conducted by the Office of the CFO
Solutions practice at FTI Consulting Inc. (NYSE: FCN), in
collaboration with CFO Dive.
Nearly three-quarters (74%) of those surveyed predict
double-digit growth in 2024, with 33% predicting growth over 30%.
The survey polled the views of more than 375 senior finance
executives across North America, Europe, the Middle East and
Africa; Asia; and Australia.
“Many of our CFO clients were prepared for a downturn last year,
but recession fears seem to be easing,” said Gina Gutzeit, a Senior
Managing Director and Global Leader of the Office of the CFO
Solutions practice at FTI Consulting. “While inflation is still the
top concern, the findings of this survey reflect optimism and the
desire to end the wait-and-see approach as senior finance
executives become more confident in the global markets.”
The global survey identified the following key insights:
- While 76% of respondents agree that inflation is the top
concern for 2024, 74% believe increased competitive pressures will
also present considerable risk to their businesses.
- CFO turnover remains high, with 61% of respondents stating that
CFO tenure is still less than five years at a single employer. The
survey results also indicate tenure is closely correlated with
revenue size. Notably, 68% believe tenure is less than five years
at companies with more than $1 billion in revenue, while 44%
believe tenure is less than five years at companies with less than
$100 million in revenue.
- Demand for finance talent remains high and the workforce supply
is decreasing. More than half of respondents (51%) believe the
talent pipeline will be their toughest challenge this year, and 90%
plan to spend more time focusing on talent acquisition and
retention than in 2023.
- Investment in finance technology and automation was identified
as the leading area for improvement by 86% of respondents, although
many CFOs believe that lack of budget and a finance technology
skill shortage create barriers.
“Complex and manual processes are a primary challenge to
increasing efficiencies and can inhibit a finance organization’s
ability to grow,” said David White, a Senior Managing Director in
FTI Consulting’s Office of the CFO Solutions practice. “CFOs
recognize this, and not surprisingly, they are turning to
intelligent automation to optimize existing workflows and allow
current talent to focus on more impactful analyses enhancing
finance’s decision support capabilities.”
Read the full survey report here.
About FTI Consulting FTI Consulting, Inc.
is a global business advisory firm dedicated to helping
organizations manage change, mitigate risk and resolve disputes:
financial, legal, operational, political & regulatory,
reputational and transactional. With more than 8,000 employees
located in 31 countries, FTI Consulting professionals work closely
with clients to anticipate, illuminate and overcome complex
business challenges and make the most of opportunities. The Company
generated $3.03 billion in revenues during fiscal year 2022. In
certain jurisdictions, FTI Consulting’s services are provided
through distinct legal entities that are separately capitalized and
independently managed. For more information, visit
www.fticonsulting.com.
FTI Consulting, Inc.555 12th Street
NWWashington, DC 20004 +1.202.312.9100
Investor Contact: Mollie
Hawkes +1.617.747.1791 mollie.hawkes@fticonsulting.com
Media Contact: Matthew
Bashalany +1.617.897.1545 matthew.bashalany@fticonsulting.com
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