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VISIBILITY OVER CASH WILL BE KEY CLAIM AUSTRALIAN C-SUITE
A global survey of C-suite executives and Finance and Accounting ( F & A ) professionals – commissioned by BlackLine – has revealed a significant lack of confidence among C-suite and F & A professionals when it comes to the visibility of cash flow . This suggests that many Australian organisations could be making decisions without an accurate , up-to-date view of company liquidity . This comes despite findings that suggest that visibility over cash flow and other financial metrics could be the key to businesses weathering the growing global economic storm .
The survey , which included 167 business leaders and F & A professionals ( conducted by Censuswide ) among 1,483 of their peers globally , also found that Australian businesses are anticipating growing pressure and scrutiny over company financials because of ongoing economic uncertainty . C-suite respondents indicated it will take between seven months and a year before they start to feel confident about the economy again . As a result , optimising working capital and processes is high on the agenda , as companies look to bolster their financial resiliency to combat market instability .
Keeping track of cash
With recessionary fears on the rise , 43 % are concerned that rising interest rates will result in more of their customers paying late ( rising to 47 % among CEOs ). Just over a third ( 35 %) are worried that prospects or customers will have less income to spend , which could impact sales / revenue and 36 % are worried that their organisation will face higher costs .
The majority agree ( 68 %) that understanding cashflow in real-time is going to become more important for their company in the face of economic uncertainty . But nearly all respondents ( 96 %) said they could be more confident in the visibility they currently have over cashflow .
This suggests that many businesses could be at a serious disadvantage when
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