“The 2023 Controller/CFO Sentiment study uncovered a ‘bullish’ outlook on individual company financial performance, along with a ‘cautious’ sentiment regarding spending based on challenging macro-economic and business environments”, states Neil Brown, Controllers Council Executive Director.
CHICAGO (PRWEB) February 16, 2023
The results of a national study on Controller and CFO Sentiment for 2023 are now available in a published report by the Controllers Council. The research identified a new Controller/CFO Financial Performance Index™ (FPI), and a Controller/CFO Spending/Budget Index™ (SBI) that will serve as important benchmarks now and in the future.
The 2023 Controller/CFO Sentiment Study, in partnership with Sage, was conducted in October to December of 2022 via a national survey of mostly small and medium-sized business CFOs, Controllers and related titles. The study identified “bullish” outlooks for financial metrics, hiring and technology investment; along with “cautious” spending and budget priorities. A Controller/CFO Financial Performance Index (FPI) of 127% was reinforced by 61% of respondents predicting increased revenue in 2023. A Controller/CFO Spending Budget Index (SBI) of 85% was driven by only 18% of respondents increasing spend in 2023.
“The study findings show that small and medium-size businesses are more optimistic in outlook than perhaps they get credit for and are driving positive economic achievements despite difficult external environments,” says Mark Floisand, EVP Global Product Marketing, Sage. “And businesses are investing in technology that support talent challenges including hybrid work environments, staff retention and productivity - especially in their accounting teams.”
A “Greatest concerns, what keeps you up at night” question identified a variety of responses leading with interest rates, but closely followed by geopolitical risk, inflation, recession and talent challenges.
“The 2023 Controller/CFO Sentiment study uncovered a ‘bullish’ outlook on individual company financial performance, along with a ‘cautious’ sentiment regarding spending based on challenging macro-economic and business environments”, states Neil Brown, Controllers Council Executive Director. “The complimentary Research Study report offers great detail and insight that will help corporate finance executives with 2023 planning."
To view or download the free 2023 Controller/CFO Sentiment Study Report, click here.
To view the 2023 Controller/CFO Sentiment Study – Webcast Panel Archive, click here.
The study and webcast were produced by the Controllers Council, a member association and community focused on corporate finance and accounting training and resources, career development, networking and recognition.
ABOUT Controllers Council
Controllers Council™ is a national member association, community and platform for Controllers, CFOs, and corporate accounting and finance professionals focused on career development and training, peer interaction, recognition and more. Programs include CPE and professional certification, a national Career Center, webcasts with expert panelists on trending topics, research studies, articles and whitepapers. Controllers Council produces the annual Controller of the Year Awards, Meet the Controller Interview Series, and the Seal of Approval program.
For more information, visit http://www.ControllersCouncil.org, or call Executive Director Neil Brown at 312-869-2180.
ABOUT Sage
Sage exists to knock down barriers so everyone can thrive, starting with the millions of small and medium-sized businesses served by us, our partners, and accountants. Customers trust Sage finance, HR, and payroll software to make work and money flow. By digitizing business processes and relationships with customers, suppliers, employees, banks and governments, the Sage digital network connects SMBs, removing friction and delivering insights. Knocking down barriers also means we use our time, technology, and experience to tackle digital inequality, economic inequality, and the climate crisis. Learn more at Sage.com.