While CFOs have always had to deal with numerous challenges, the current environment is proving to be exceptionally complex. The global pandemic disrupted supply chains, led to inflationary pressures, and forced businesses to adopt new ways of operating. These challenges have been further compounded by a range of global poly-crises.

Given this complex landscape, CFOs are under intense pressure to manage a wide range of priorities. They must balance the needs of their shareholders, employees, customers, and communities while navigating a rapidly changing environment. As a result, CFOs must be agile, flexible, and responsive, constantly adapting their strategies and plans to respond to changing circumstances.

A recent survey, sponsored by Taulia, showed that inflation was the highest concern amongst CFOs, given the interest rate rises experienced during the end of 2022. With record-high interest rates and rising costs worldwide, businesses were in a precarious position going into 2023. As business expenses increased, financial decision-makers were under immense pressure to maintain existing profit margins. These findings are further reflected in the personal experience of our interviewees.

Interestingly, supply chain disruption emerged as the second biggest concern for CFOs, with three in ten senior financial decision-makers citing a lack of inventory / supply chain disruption as their biggest challenge for 2023. This marks a notable shift from 2022 when supply chain disruption was the fourth biggest concern. It overtook COVID-19 and the implementation of ESG programs in the minds of financial decision-makers. This shift highlights the importance of businesses focusing on their supply chains to ensure operational resilience.