Business Wire IndiaWNS (Holdings) Limited (NYSE: WNS), a major provider of global business process management (BPM), announced the release of Global CFO Survey Report By Everest Group, a leading consulting and research firm. The survey gave 300 CFOs and their direct reports from large enterprises in 20 different industries around the world a better understanding of how they are reducing the uncertainty associated with a global epidemic and changing their long-term strategic business imperatives .
According to the survey’s findings, CFOs view the challenges of low demand for customers and working capital as the top short-term concerns across all industries. In addition, CFOs of manufacturing and life sciences organizations are facing supply chain issues, while pricing pressures were cited as a top concern in the high-tech, telecommunications, travel and logistics sectors. Key short-term priorities to address these concerns include Implementing successful work from home models, promoting liquidity and increasing digital adoption.
In the long term, CFOs are also expected to face significant challenges to their businesses. More than half of the CFOs surveyed concern their organizations about liability and risk exposure arising from new ways of ensuring viability and working through economic downturns. In addition, the relevance of the current business model and the need for operational preparedness are also top-of-mind.
To deal with long-term concerns, more than 50% or so of survey respondents saw speed, agility and digital enablement as key features of an organization geared towards the future. He believes that his role will grow as an orchestrator of being business partners and enhancing collaboration between company functions, while contributing to making companies resilient, especially in the wake of the global epidemic.
“As we get closer to the end of 2020, lower sales and supply chain disruptions negatively impact revenue in the majority of organizations. Over 55% of CFOs believe their 2020 revenue will be at least 3% lower than their 2019 revenue. 47% of CFOs said that they are not very confident to invest in the next 6 to 12 months, there are key areas they can address to recover and rebound. We are at a turning point, where WNS leaders like Digital F&S are in a unique position to help CFOs and organizations change the future of Miracle, as indicated by the Global CFO Survey, ”Keshav R. Murugesh, Group CEO , Said WNS.
According to the study, CFOs are expecting them Finance and Accounting (F&A) to offer service providers support in strategic tasks such as designing change road maps, incorporating actionable insights, and driving process excellence for Miracle functions in client companies. Interestingly, there is significant openness for F&A to consider these models in the future among organizations that do not support third parties or in-house shared services.
About Global CFO Survey: CFO research study by Everest Group, supported by WNS, aimed at understanding the impact of COVID-19 in the current business environment, how CFOs are assuming their roles to develop into a new normal, and the key building blocks that make them Should ensure the organization prepared for the future. More than 300 CFOs and North America, Latin America, Europe, Asia Pacific and Middle East and Africa to participate in the survey – and their direct reports. Download full report here.
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