SA: US CFOs’ top priority is cost-cutting amid economic uncertainty, survey finds

SEEKING ALPHA reports:

With economic and geopolitical uncertainty lingering, finance chiefs in the U.S. have directed their energies toward bolstering cost-cutting efforts, so much so that it has become their No.1 priority, according to a recent U.S. Bank (USB) survey.

It’s a tough environment for chief financial officers. “They face higher inflation and interest rates, political uncertainty in the U.S. and abroad, a difficult-to-forecast short-term economy and incredible pressure to make the right technology investments their firms will need to compete,” said Stephen Philipson, head of Global Markets and Specialized Finance at U.S. Bank.

Reducing costs within the finance function and across the entire business are the top two priorities, per the fourth annual U.S. Bank CFO Insights Report, which surveyed 2,030 senior finance leaders during the January-February period…

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