In 2016, in between maintaining margins and profits efficiency, forecasting money flowcapital, adhering to brand-new policies and fighting cyber threats, finance leaders and their groups will need to be unbelievably vigilant, concludes the 2016 Finance Priorities Survey.
“Margin and revenues efficiency ranks as the top concern throughout all groups of our study participants,” said Ryan Senter, a Protiviti handling director and leader of the firm’s Company Efficiency Improvement practice. “With the modest economic recovery of the past couple of years, finance functions are preparing the enterprise for challenges that could emerge at any time by working to preserve margins and by sustaining a strong concentrate on working capital management.”
The 2016 Finance Priorities Survey, which collected insights from more than 650 CFOs, VPs of financing, corporate controllers and other financing management experts, evaluates the top priorities finance functions will address in the coming year, amongst other subjects they requirehave to handle and improve. Protiviti’s report likewise includes recommended actions for financing leaders in addition to patterns to watch.Top 5 priorities”For CFOs reacting
to the study, priority levels have trended up over last year’s currently high numbers, and cybersecurity threats join the ranks of other important priorities,”said Costs Sinnett, COO, Financial Executives Research Foundation.Margin/ Earnings Performance is the leading concern of 82 % of the CFOs and VP-level executives which responded to the survey. The other priorities consist of Cybersecurity Dangers(81 % ), Strategic Planning(79 %), Regular Forecasting (75 %), and Budgeting (75 %). Cybersecurity concerns penetrate the financing function Cybersecurity represents a strategic organizational threat and, not surprisingly, one that ranks near the top of finance functions’concern lists. From a financing point of view, there are considerable concerns concerning the security of monetary info in addition to the monetary effects of the security of all data.While IT commonly takes the lead in addressing this threat, cybersecurity is now a top boardroom problem as well as an area drawing significant time and attention within the finance function.A single, real-time version of the truth To assist strengthen total company performance and strategic preparation, and to drive value from the monetary data within an organization, financing functions desire to develop better, more accurate and timelier data collection, information analysis, reporting, budgeting and forecasting abilities. These corporate performance management procedures are made use of to carry out earnings analyses tied to clients, products, operating devices and geographies.