Business
Visibility over Cash will be Key to Surviving Economic Storm, Claim Majority of Global C-Suite Execs and Finance & Accounting Professionals
Two thirds agree that understanding cash flow in real time will be crucial - but just 2% of those surveyed by BlackLine are completely confident in the
About this update from Blackline, Inc.
[{"type":"text","content":"Two thirds agree that understanding cash flow in real time will be crucial - but just 2% of those surveyed by BlackLine are completely confident in the visibility they currently have \nLOS ANGELES and LONDON and SINGAPORE and SYDNEY, Nov. 15, 2022 /PRNewswire/ -- A global survey of C-suite executives and finance and accounting (F&A) professionals commissioned by BlackLine, Inc. (Nasdaq: BL) has revealed a significant lack of confidence among the C-suite and F&A professionals when it comes to the visibility their company has over its cash flow, suggesting that many global organizations could be making decisions without an accurate, up-to-date view of company liquidity. This comes despite findings that suggest that visibility over cash flow and other financial metrics could be the key to businesses weathering the growing global economic storm.\n\n \n \n \n \n \n \n\n \nThe survey of 1,483 business leaders and F&A professionals (conducted by independent research agency Censuswide across the US, Canada, UK, Germany, France, Singapore and Australia) also found that organizations globally are anticipating growing pressure and scrutiny over company financials as a result of ongoing economic uncertainty, with the highest number of C-suite respondents indicating it will take between seven months and a year before they start to feel confident about the economy again. As a result, optimizing working capital and accounts receivable processes is high on the agenda, as companies look to bolster their financial resiliency to combat market instability.\nKeeping Track of Cash With recessionary fears on the rise, four in 10 (43%) of those surveyed are concerned that rising interest rates will result in more of their customers paying late (rising to 55% among CEOs). A similar percentage (42%) are worried that prospects or customers will have less income to spend, which could impact sales/revenue, and 41% are worried that their organization will face higher costs.\nPerhaps as a result, 62% agree that understanding cash flow in real time is going to become more important for their company in the face of economic uncertainty. But nearly all respondents (98%) said they could be more confident in the visibility they currently have over cash flow.\nThis suggests that the majority of global organizations could be at a serious disadvantage when it comes t...