TOP TRENDS IN FINANCE 2017
THIS YEAR HAS , with a few notable exceptions , been a difficult one , and the phrase ‘ unprecedented time of uncertainty ’ has almost become cliché . As a CFO , your main priority is ensuring the financial stability of your company regardless of market conditions , and the apparent inability of anyone to predict anything has made this a greater challenge than ever before .
In 2017 , world events are likely to continue to confuse and panic again in equal measure . The Italian banks are at breaking point , the French elections could see one of Europe ’ s leading powers fall under the control of a far-right party , and article 50 is likely to be triggered , beginning the process of the UK exiting the EU .
There are , however , reasons for the CFO to be optimistic about what 2017 holds . Donald Trump , for all his flaws , will likely cut corporation tax significantly , providing a timely boost for business , while technological advancements should also mean that finance leaders are better positioned to cope and drive growth .
Rolling Forecasts According to a new survey by consulting firm Kaufman Hall , agility is a top priority for CFOs in 2017 , yet many are still struggling to achieve it .
Less than 23 % of respondents to the survey said they are very confident about their company ’ s ability to overcome unforeseen business obstacles , citing outdated FP & A tools and processes as the primary cause .
This push for agility will see continuous forecasting take on an even more important role next year . In Kaufman Hall ’ s survey , 38 % of respondents said their company now uses rolling forecasts , up from 33 % from the same period a year ago and 25 % in 2014 and popularity is likely to increase exponentially next year as companies begin to realize the benefits . A recent survey by Aberdeen Group saw 71 % of top-performing organizations who responded say they mitigated against risks related to volatile business conditions by continuously updating forecasts to better reflect current business conditions , and those seeking to emulate them should do the same .
Cybersecurity Cybersecurity remains a pressing concern for organizations of all sizes . In 2016 alone , 2.2 million patient records were taken from 21st Century Oncology , 1.5 million Verizon Enterprise Solutions customer records were stolen , and nearly 150 million accounts leaked from
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