With the end of 2010 rapidly approaching, finance chiefs have revealed their top areas of concern for next year.
According to a recent study by TD Bank, 69% of CFOs and corporate finance managers said managing cash flow next year worries them the most.
Forty-one percent said proper capital allocation will be 2011’s top financial management priority.
Business as usual
Interestingly, almost all of finance chiefs plan to forge ahead with their projects despite their cash-flow worries. In fact, just 7% of finance managers said they plan on cutting expenses in the new year, and 39% actually expect their capital investments to increase. Where they plan on spending: new technology.
The study also asked CFOs and finance chiefs about their thoughts on the economy and found most had a very pragmatic viewpoint on the recovery. In fact, a full 78% believe the recovery could take up to two years to materialize.
Respondents also listed the top signs that the recovery was here to stay, which included:
- falling unemployment rates (46%)
- sustained growth in their company’s sales (21%)
- an increasing number of customers buying their products/services (9%)
- improvement in the real estate market (8%)
- greater access to credit (6%), and
- stock market performance (4%).
