Global CFO Survey 2022: Organizations are Moving Beyond Transactional Processes to Focus on Transforming Judgment-Intensive Activities

The survey also highlights the differences between aspirational themes and those initiatives currently taking place across the global Finance & Accounting (F&A) landscape.

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Business Wire, Inc.Business Wire, Inc.
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Friday, October 7, 2022
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Finance, Data Analytics, Consulting, Business, Professional Services, U.S. Securities and Exchange Commission, BPM, Appetite, Efficiency, CFOS, Organization, NYSE, Research, Security (finance), Technology, Business, Private Securities Litigation Reform Act, Accounting, United Kingdom, Business process management, Holding, COVID-19, Solution, Compliance, Management, Renewable energy, WNS
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NEW YORK, UNITED STATES, INDIA, UNITED KINGDOM, NORTH AMERICA, ASIA PACIFIC, EUROPE, CHINA, PHILIPPINES, ROMANIA, COSTA RICA, POLAND, SRI LANKA, SOUTH AFRICA, SPAIN, TURKEY
Stock Symbol: 
NYSE:WNS
Summary
Key Points: 
  • The survey also highlights the differences between aspirational themes and those initiatives currently taking place across the global Finance & Accounting (F&A) landscape.
  • In 2020, the study concluded that the COVID-19 pandemic had created the need to accelerate transformation journeys to build future-ready enterprises.
  • Learnings from the COVID-19 pandemic have substantially increased the investment appetite of organizations to create a future-proof F&A function.
  • Close to 70% of the organizations surveyed in 2022 indicated an ability to invest, as compared to less than 50% two years ago.


WNS (Holdings) Limited (NYSE: WNS), a leading provider of global Business Process Management (BPM) solutions, today announced the release of 2022 Global CFO Survey report titled “Separating Chatter from Reality” by Everest Group, supported by WNS. The survey polled 300 CFOs and their direct reports from large global enterprises across eight different industries to assess how the roles and business imperatives of CFOs have evolved since the previous study conducted in 2020. The survey also highlights the differences between aspirational themes and those initiatives currently taking place across the global Finance & Accounting (F&A) landscape.

In 2020, the study concluded that the COVID-19 pandemic had created the need to accelerate transformation journeys to build future-ready enterprises. The top organizational challenges included ‘adapting to customer demands’ and ‘supply chain continuity.’ However, in 2022, challenges such as ‘cost and pricing pressures,’ ‘increasing risk exposure,’ and ‘talent shortage’ have moved to the forefront as a result of the current macroeconomic environment. Today, 68% of organizations are adopting cloud infrastructure, while 61% are re-assessing compliance, controls and policies to make the F&A function more agile and resilient in responding to these challenges.

Learnings from the COVID-19 pandemic have substantially increased the investment appetite of organizations to create a future-proof F&A function. Close to 70% of the organizations surveyed in 2022 indicated an ability to invest, as compared to less than 50% two years ago. Additionally, more than 70% of CFOs now recognize the need to leverage digital technologies to improve efficiency, effectiveness, and stakeholder experience as their top priority.

“CFOs’ top priorities, including driving agility and resilience, and creating a future-ready finance function, are now becoming an imminent reality. However, these leaders must adopt an end-to-end approach toward transformation in order to drive business growth, optimize stakeholder experience, and scale business initiatives over the long-term,” said Keshav R. Murugesh, Group CEO, WNS.

Download the full report, here.

About WNS

WNS (Holdings) Limited (NYSE: WNS) is a leading Business Process Management (BPM) company. WNS combines deep industry knowledge with technology, analytics, and process expertise to co-create innovative, digitally led transformational solutions with over 400 clients across various industries. WNS delivers an entire spectrum of BPM solutions including industry-specific offerings, customer experience services, finance and accounting, human resources, procurement, and research and analytics to re-imagine the digital future of businesses. As of June 30, 2022, WNS had 55,146 professionals across 53 delivery centers worldwide including facilities in China, Costa Rica, India, the Philippines, Poland, Romania, South Africa, Spain, Sri Lanka, Turkey, the United Kingdom, and the United States.

For more information, visit www.wns.com or follow us on Facebook, Twitter, LinkedIn, and Instagram.

Safe Harbor Provision

This document includes information which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events. Factors that could cause actual results to differ materially from those expressed or implied are discussed in our most recent Form 20-F and other filings with the Securities and Exchange Commission. WNS undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

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