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CFOs Optimistic About Economy, Survey Finds

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TLDR:

  • Chief financial officers (CFOs) are more optimistic about the U.S. economy, with 34% being “very optimistic.”
  • 55% of CFOs focus on cost optimization, while 50% expect operation costs to increase in the next year.

In a new survey by Grant Thornton, it was found that CFOs are feeling positive about the U.S. economy, with 34% expressing a high level of optimism. This marks an 11-quarter high for the survey, while pessimism is at an 11-quarter low at 12%. Despite concerns about increasing operation costs, CFOs are turning to automation and AI to enhance efficiency. Additionally, 71% of CFOs are projecting growth in net profits in the next 12 months.

Key highlights from the survey include:

  • 55% of CFOs focus on cost optimization.
  • 50% expect operation costs to increase in the next year.
  • 71% project growth in net profits.

Despite concerns about rising costs, CFOs are also increasing spending on technology and digital transformation, as well as cybersecurity. They are also looking to optimize monthly close processes for more timely and actionable data. Access to capital remains relatively unhindered, but funding is more expensive, with CFOs split on funding sources in the next two years.

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