CFO Survey 2018, Czech Republic
According to the majority of CFOs (95%), the biggest upward pressure in the next 12 months will be on wages and costs of debt (75%)
CFOs in the Czech Republic and across Central Europe regard 2018 with optimism. However, they are also well aware of the possible obstacles as well as the fact that the economy is unable to perform at such a high level for long periods of time. Below are the results of this year’s survey, which was conducted among almost 600 CFOs across Central Europe, including the Czech Republic.
6 Key Factors to Affect Companies as Seen by CFOs
- Interest rates: CFOs in most Central European countries including the Czech Republic do not intend to change their strategies if interest rates increase as they only have a minor impact on their business.
- Growing costs: More than half of respondents estimate that an increase in operating costs, or the costs of material, labour and services, will be one of the key risk factors for companies. Almost half of them (46%) expect an increase in the number of employees, the biggest upward pressure in the next 12 months will be on wages for 95% of CFOs.
- Risk appetite: The economy as a whole is doing well, and CFOs are well aware of it. Nevertheless, over half of them think it is not a good time to take on more risk.
- Robotisation and automation: The survey results show that robotic process automation (RPA) continues to be a relatively new field whose impacts on companies are hard to anticipate. Only 6% of CFOs believe that their companies are ready for RPA. This is despite the fact that 65% of respondents say that their companies have already been addressing RPA.
- Digitisation: According to the results, CFOs admit that they are generally not company-wide drivers of this new trend, yet their voices can be heard. In Central European terms, they tend to show more restraint as regards their involvement in addressing strategic issues. The benefits of digitisation for the finance function as cited by CFOs primarily include digitisation of documents (69%) and automation of repetitive management reporting (54%).
- Big data: According to CFOs, the utilisation of big data is one of the three key trends affecting their businesses. However, the results confirm that it is still a rather new topic as 45% of CFOs say they do not make use of the data.
Czech CFO Survey 2018
Download full report (PDF)
The 2018 CFO survey focused on topics including risk, GDP growth, financing priorities and the most recent issues facing business, such as digital transformation of the finance function and robotic process automation. Read the other CFO survey findings and consider the Czech results in the Central European context. To download the report, follow this link.
Click here for more CE CFO survey details and results.