PwC's biweekly CFO survey conducted June 8 - 11 garnered responses from 330 US CFOs and finance leaders (88% public and private companies) in the consumer markets, financial services, health industries, industrial products, and technology, media and telecommunications sectors.
Among the key findings are those relating to projected long-term impacts of the pandemic, as follows:
- CFOs identified changes in products or services as key to rebuilding or enhancing revenue streams (63% of respondents), followed by changes in pricing strategies (41%) and distribution channels (35%)
- 73% identified work flexibility (e.g., hours, location) and 72% identified better resiliency and agility, as positive business outcomes of the pandemic over the long-term.
- More than half (54%) plan to make remote work a permanent option for roles that allow it once they transition back to work on-site; 44% plan to accelerate automation and new ways of working; and 35% plan to reduce their real estate footprint (e.g., partial opening of offices, retail locations). This compares to 49%, 40% and 26% in the April 20 - 22 survey.
- Notably, just 52% reported their company considering a deferral or cancellation of planned investments as compared to 70% in the April 20 - 22 survey.
The always-insightful report also provides perspective on how CFOs' chief concerns are changing as the pandemic evolves and highlights relevant industry-specific findings. See our reports on prior PwC CFO surveys here and here (see "CFOs"). This post first appeared in the weekly Society Alert!