Suche
Mein Konto
Austria's CFOs in crisis: cost cutting and pessimism dominate
In a Deloitte survey, Austria's CFOs show a pessimistic mood in the face of economic uncertainty and cost reductions.
Austria's CFOs in crisis: cost cutting and pessimism dominate
The current Deloitte survey of Austria's CFOs shows an alarming picture of the economic situation. Deloitte reports a persistently pessimistic climate in which 65% of the 50 CFOs surveyed perceive high levels of economic uncertainty. Another result of the survey is that 53% of CFOs expect the investment climate to deteriorate.
Some of the CFOs surveyed even said they were more pessimistic about their prospects for financial success than before, with this percentage reaching 30%. Almost half, exactly 50%, also plan to reduce investment expenditure. This mood, characterized by economic challenges, means that cost reductions are viewed as strategically very important; 58% of CFOs share this view. Around 33% consider it rather important.
Perspectives and risks
The CFOs in Austria are facing serious challenges given the tense market situation. In particular, 44% of those surveyed expect staff cuts in the near future. The average inflation, which they forecast at 3.1% for Austria and 2.2% for the Eurozone, is perceived by 73% as a major business risk. Cyberattacks, particularly those supported by artificial intelligence, are also a major concern at 88%. Deloitte also highlights that increasing regulation (80%) and weak economic prospects (78%) are recognized as serious risks.
In addition to the pure financial situation, CFOs also have to make strategic decisions for the future. It is interesting to see that according to a report by RTI-Different Only 28% of CFOs worldwide identify cost reduction as their top priority. In Europe, however, 63% of CFOs spend a majority of their time on cost reduction strategies. Renewing outdated technologies and adapting business models in different regions is also crucial.
Sustainability as a strategic goal
A significant theme emerging from the Deloitte survey is the challenges posed by the green transformation and demand uncertainties. Over half of CFOs (56%) report that insufficient demand is hindering sustainability efforts. The majority of those surveyed also see the EU's plans for decarbonization as a potential competitive disadvantage. Deloitte emphasizes the long-term importance of sustainability for the competitiveness of companies, even if many companies currently have to save money in the areas of sustainability and personnel.
In conclusion, it can be said that CFOs in Austria and beyond are confronted with a variety of challenges, with the focus on cost reduction and strategic realignment. The coming months are likely to be crucial to emerge stronger from the ongoing economic uncertainty.