Global CFO Survey: CFOs Look to Build “Future Ready” Organizations in the Wake of COVID-19
November 19 2020 - 9:19AM
Business Wire
WNS (Holdings) Limited (NYSE: WNS), a leading provider of global
Business Process Management (BPM) announced the release of the
Global CFO Survey report by Everest Group, a leading consulting and
research firm. The survey polled 300 CFOs and their direct reports
from large enterprises across 20 different industries globally to
better understand how they are navigating uncertainty associated
with a global pandemic and changing their longer-term strategic
business imperatives.
As per the survey findings, CFOs see lower customer demand and
working capital challenges as top short-term concerns across all
industries. In addition, CFOs of manufacturing and life sciences
organizations are facing supply chain issues, while pricing
pressure was reported as a top concern in the hi-tech, telecom,
travel and logistics sectors. Key short-term priorities to address
these concerns include implementing successful work from home
models, boosting liquidity and increasing digital adoption.
In the long-term, CFOs are also expecting their businesses to
face significant challenges. Over half of the surveyed CFOs worry
about ensuring their organizations viability through an economic
downturn and about increasing liability and risk exposure resulting
from new modes of working. In addition, the relevance of existing
business models and the need for operational preparedness are also
top-of-mind.
To deal with long-term concerns, over 50% of the survey
respondents see speed, agility and digital enablement as the key
characteristics of a future-ready organization. They believe that
their roles will evolve to being business partners and
orchestrators of increased collaboration among company functions
while contributing to making companies resilient, especially in the
wake of the global pandemic.
“As we move closer to the end of 2020, lower sales and supply
chain disruptions continue to negatively impact revenues in the
majority of organizations. More than 55% of CFOs believe their 2020
revenues would be at least 3% lower than their 2019 revenues. With
47% of CFOs saying they are not very confident committing to
investments in the next 6 to 12 months, there are key areas they
can address to recover and rebound. We are at a critical juncture
where Digital F&A leaders like WNS are in a unique position to
help CFOs and organizations transform the future of finance as
indicated by the Global CFO Survey,” said Keshav R. Murugesh, Group
CEO, WNS.
According to the study, CFOs are expecting their Finance and
Accounting (F&A) service providers to offer support in
strategic tasks such as designing transformation road maps,
incorporating actionable insights, and driving process excellence
for finance functions across client companies. Interestingly, there
is significant openness among organizations that are not currently
leveraging third-party or in-house shared services support for
F&A about considering these models in the future.
About Global CFO Survey: The CFO Research study by
Everest Group, supported by WNS, aimed to understand the impact of
COVID-19 in the current business environment, how CFOs are
perceiving their roles to evolve in the new normal, and the key
building blocks that they must build to ensure a future-ready
organization. Over 300 CFOs and their direct reports across North
America, Latin America, Europe, Asia Pacific, and the Middle East
and Africa – and from more than 20 industry sectors – participated
in the survey. Download the full report, here.
About WNS
WNS (Holdings) Limited (NYSE: WNS) is a leading Business Process
Management (BPM) company. WNS combines deep industry knowledge with
technology, analytics and process expertise to co-create
innovative, digitally led transformational solutions with over 375
clients across various industries. WNS delivers an entire spectrum
of BPM solutions including industry-specific offerings, customer
interaction services, finance and accounting, human resources,
procurement, and research and analytics to re-imagine the digital
future of businesses. As of September 30, 2020, WNS had 41,466
professionals across 60 delivery centers worldwide including
facilities in China, Costa Rica, India, the Philippines, Poland,
Romania, South Africa, Spain, Sri Lanka, Turkey, the United
Kingdom, and the United States. For more information, visit
www.wns.com.
Safe Harbor Provision
This document includes information which may constitute
forward-looking statements made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995,
the accuracy of which are necessarily subject to risks,
uncertainties, and assumptions as to future events. Factors that
could cause actual results to differ materially from those
expressed or implied are discussed in our most recent Form 20-F and
other filings with the Securities and Exchange Commission. WNS
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, future events,
or otherwise.
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version on businesswire.com: https://www.businesswire.com/news/home/20201119005825/en/
Investors: David Mackey EVP – Finance & Head
of Investor Relations WNS (Holdings) Limited +1 (201) 942-6261
david.mackey@wns.com
Media: Archana Raghuram Global Head –
Marketing & Communications and Corporate Business Development
WNS (Holdings) Limited +91 (22) 4095 2397 archana.raghuram@wns.com
; pr@wns.com
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