As everyone wishes 2020 to be done and 2021 budget planning ramps up, CFOs are prioritizing cash, sustainability and clairvoyance.
In addition to managing liquidity and addressing expanding investor expectations, finance leaders are peering into the post-COVID-19 future to identify foundational investments that will help right-size the finance organization while equipping it with the resilience, talent, technology and virtual operating capabilities it needs to thrive amid ongoing disruptions. The global pandemic, its economic impacts and the vexing uncertainty it continues to inflict are complicating budgeting and planning activities. Getting a read on 2021 budgets requires finance teams to forecast, reforecast and repeat.
The market realities of the emerging post-pandemic world are driving a sea change as organizations rebuild or reimagine their businesses, which will influence budgets significantly. Boards and C-suites have witnessed digital leaders weather the pandemic with greater resilience, speed and efficacy compared to less digitally advanced companies. Many business leaders also recognize that their organization’s pre-pandemic technology planning did not embrace a sufficiently robust strategy to connect with customers and suppliers, fulfill orders swiftly and efficiently, streamline and automate processes, use data more effectively to improve performance, and support remote, contactless working models.