2020 disrupted nearly every industry – some in good ways, some in bad ways. With the pandemic still impacting our daily lives, we might expect this year to be uncertain too. But perhaps not!
The 2021 BDO Middle Market CFO Outlook Survey found some positive and encouraging results, including:
- 60% of respondents are forecasting economic recovery
- 56% expect revenue increases
- The pandemic accelerated digital transformation at 39% of companies
- 36% of companies found expansion opportunities for products or services
- 29% plan to seek private equity investment
- 24% expect to undergo a merger or acquisition
- 20% plan to pursue an IPO
As CFO Dive reported, “It’s clear the pandemic forced businesses to reflect, and as a result, middle market leaders took action,” Matt Becker, national managing partner of tax at BDO, said. “They refreshed strategy, they prioritized what mattered most, and now they’re aiming to emerge as more resilient and agile companies.”
The report also included findings about the impact of the pandemic. For example,
- 43% plan to increase or establish permanent remote work options
- 28% will eliminate or consolidate their real estate holdings and office footprint
- They also report working towards a “more nimble workforce,” with 38% leveraging automation and 32% using outsourcing
Take a look at the report. What are you predicting for the coming months?
Check out more FP&A Done Right posts here:
FP&A Done Right: The Role of KPIs in Driver-Based Budgets
FP&A Done Right: xP&A and Modern Finance Planning
FP&A Done Right: Rolling Forecasts for More Strategic FP&A
