Reducing cost and increasing cash flow
This year CFOs top priority will be to reduce costs and increase cash flow, according to Deloitte. 36% also cited introducing new products or services and entering new markets as a key focus. This signals a trend toward more defensive strategies at board level in recent years. A contributory factor to this could be the impact Brexit has had on the UK economy and business confidence. 35% of CFOs are forecasting their capital expenditure to decrease between now and 2020 as a result of Brexit and almost two-thirds of CFOs see it as the biggest risk facing their business. Interestingly the outcome of the US election hasn’t been seen to have such an impact!