Chief financial officers are always worried about their corporation’s money — that’s their job. But new research from the Financial Executives Research Foundation and consulting firm Protiviti pinpointed just how much pressure financial executives are facing when it comes to cash flow management.
Researchers found that the increasing volatility of corporate cash flow is becoming a greater priority, and a greater source of worry, for finance leaders. Nearly three-quarters of the CFOs, VP finance professionals and other finance officials said that margin and earnings performance remain their top cash flow worry, while 69 percent said tax planning and strategic planning forecasting are their main concerns. Meanwhile, 68 percent cited budgeting as their chief priority.
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“With the modest economic recovery of the past few years, finance functions are preparing the enterprise for challenges that could materialize at any time by working to preserve margins and by sustaining a strong focus on working capital management,” said Protiviti’s managing director and leader of its Business Performance Improvement practice, Ryan Senter, in a statement.
Analysts also found cybersecurity to be a key focus for today’s financial managers, with 81 percent citing this issue as a significant concern, especially in the boardroom, reports said.
The research emerges as corporations explore the increasing prominence of the corporate treasurer and other money management roles in the enterprise but also as analysis finds that many financial officials lack the tools necessary to make the impact they strive for on their company’s balance sheets.
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