Revenue and profit forecasts are optimistic
Finance leaders are gearing up to create growth, and Grant Thornton LLP's CFO survey for the second quarter of 2023 shows how they’re pursuing goals by prioritizing their staffs and technology.
What’s in the report?
- Although CFOs' optimism about the U.S. economy has declined slightly compared with the previous quarter, optimists still outnumbered pessimists by more than two to one.
- CFOs are bullish on their own organizations' prospects, as 68% expect revenue growth and 67% predict net profit growth over the next 12 months.
- The percentage of finance leaders predicting potential layoffs declined to 27% from 40% the previous quarter, and the most popular areas for increased spending are cybersecurity and IT/digital transformation.
- Cost optimization remains the top area of focus for finance leaders, and vendor or supplier costs is the top area for cost savings.
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Sean Denham
Regional Managing Partner, Atlantic Coast; National Audit Growth Leader, Audit Services; National SPAC Leader
Sean Denham holds multiple national and regional leadership roles for Grant Thornton.
Philadelphia, Pennsylvania
Industries
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- Services
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- Audit
- Private company audit
- Public company audit
Kim Jacoby
Director
People & Organization
Chicago, Illinois
Chris Lilley
Practice Leader - Tech Solutions
Chris Lilley is the Business Advisory Services principal for the East region. Based in Grant Thornton’s Philadelphia office, he has more than 30 years of experience using business process redesign and information technology to develop solutions to solve business problems.
Philadelphia, Pennsylvania
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Christopher P. Schenkenberg
National Managing Partner, Regional Tax Business Lines
Chris Schenkenberg has extensive experience working in M&A, conducting tax due diligence reviews for both financial and strategic clients. He also has significant technical knowledge in acquisition structuring, divestiture planning and tax accounting methodologies.
Chicago, Illinois
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- Technology and telecommunications
- Retail and consumer products
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