NEW SURVEY REVEALS THAT MAJORITY OF FINANCE DIRECTORS ARE FOCUSSED ON CASHFLOW FOR THE NEXT 6 MONTHS WITH OPTIMISM INCREASING IN 2021
Global expenses app, ExpenseOnDemand, has surveyed Finance Directors to highlight how they are coping with the pandemic and also their predictions for the next 12 months. The survey shows a majority (59%) of Finance Directors are focussing on cashflow over the next 6 months with sales and automation taking a back seat.
This valuable data from financial leaders and experts, gives a detailed insight into how businesses are surviving during this difficult year and what they expect the focus to be in 2021. The predictions over the next 6 months show a shift in focus from cashflow to sales with 43% prioritising sales whilst cashflow falls to only 32%.
In 12 months, the majority of financial experts expect the focus to be centred around sales (53%), with automation expected to be more important (30%) than cashflow which has reduced down to only 17%. This complete shift in priorities shows some levels of optimism as an expected focus on sales from so many finance leaders shows more buoyant economic conditions with levels of growth expected.
The ExpenseOnDemand app allows employees to simply upload and claim business expenses from any mobile device, helping Finance Directors to automate their expenses process in a paperless environment.
Sunil Nigam, Founder at ExpenseOnDemand, commented, “These valuable insights from Finance Directors, CFOs’ and financial experts to show how businesses are managing their finances in the short term to try and survive this difficult year. It is encouraging to see a predicted shift from cashflow to sales over the next 6 months and we will be monitoring these trends closely.
The team at ExpenseOnDemand has adapted our market leading app to make it easier for finance leaders and staff to manage expenses in the new normal, especially with so many employees working from home. They can simply and seamlessly upload expenses and finance teams can automate the whole process.”