21/04/2021

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CFOs See Silver Linings to Coronavirus Crisis

The coronavirus pandemic has spurred unanticipated enhancements at U.S. providers and pushed CFOs to reprioritize technological innovation financial investment, in accordance to a Grant Thornton study.

The accounting company documented that additional than sixty% of CFOs cited enhanced flexible and remote operate environments as an upside of the pandemic, with forty% also noting enhanced collaboration, enhanced company procedures, and an skill to greater focus on technique.

Amid the change to remote operate, sixty one% of finance chiefs indicated that they anticipate to improve financial investment in cybersecurity in the up coming 12 months. When questioned to name the a few largest troubles experiencing their providers, forty six% indicated cybersecurity threats, forty six% selected technological innovation updates, and thirty% said remote workforce problems.

Fifty-a few p.c of respondents are prioritizing extensive-term foundational technological innovation infrastructure financial investment in excess of technological innovation that addresses rapid company requirements (47%).

“A 12 months ago, CFOs ended up scrambling just to survive, but from time to time a disaster can speed up beneficial adjust,” Chris Schenkenberg, regional tax company traces nationwide controlling husband or wife at Grant Thornton, said in a information launch.

The study also revealed that lots of CFOs approach to slice vacation and serious estate bills in the coming 12 months and over and above and additional than fifty percent approach to improve financial investment in their companies’ DE&I (diversity, equity, and inclusion) and ESG (environmental, social, and governance) techniques.

CFOs skewed adverse on taxes, with 39% saying the Biden administration’s tax strategies will negatively effect their enterprises. Amid providers with additional than $one billion in profits, 55% anticipate tax variations to have a adverse effect, though only 29% of providers with revenues amongst $101 and $five hundred million felt the similar.

Indicating the distinctive goal acquisition organization increase of 2020 will keep on, eighty four% of non-public organization respondents said SPACs have improved their desire in likely public. When questioned whether or not a SPAC or a traditional IPO would be their option, respondents ended up virtually similarly break up, with 49% choosing a SPAC and 51% choosing an IPO.

Additional than two-thirds of CFOs, even so, anticipate improved SPAC regulation from the Securities and Trade Commission in 2021 though 55% think SPACs go away new public providers overvalued.

coronavirus, ESG, Grant Thornton, remote operate, SPACs, study, Engineering