View the 2021 BDO Middle Market CFO Outlook Survey.Įxplore individual sector expectations in BDO’s six industry CFO reports:Įnergy : Demand fluctuations and supply chain disruptions magnified issues like low prices, declining capital access and growing debt obligations. Managing disclosures and risk factors is a top financial reporting challenge as CFOs work out how best to communicate pandemic-related impact on matters that may be material to stakeholders. Middle market CFOs’ top cited threats include a prolonged economic downturn, competitive pressure, supply chain disruption and falling behind on technology or innovation.Ĭoming out of an election year, tax challenges are also top of mind, with understanding total tax liability (19%) and navigating shifting trade and tariff policies (17%) among the top cited challenges. The realities of 2020 put risk in context and exposed new vulnerabilities. Additionally, CFOs will look to build a nimbler workforce through automation (38%) and outsourcing (32%). Optimization will also be critical, with 28% planning to eliminate or consolidate their current real estate footprint. While returning to the office or floor is critical for many, 43% of CFOs will increase or establish permanent remote work options, changing the needs for a traditional office setting. While we’re not out of the woods, the middle market is poised to pivot to new levels of potential." "But rather than hunker down and endure, middle market leaders endeavor to move forward to refresh strategy and enhance agility. Many middle market companies persevered through levels of transformation and disruption in one year akin to what some companies experience in a full lifecycle," said Wayne Berson, CEO of BDO. "Unprecedented was the buzzword in 2020 for good reason. While financial forecasts vary, industries like technology, life sciences and healthcare that helped to power business continuity and advance COVID-19 care are particularly optimistic for growth in 2021. A majority forecast economic recovery (60%) and revenue increases (56%) in 2021. According to the 2021 BDO Middle Market CFO Outlook Survey, CFOs anticipate the new year will bring recovery and new opportunities. Middle market companies took advantage of newfound clarity in crisis and are poised not just for a return but a renaissance.
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