While 81 per cent of CFOs report that they will look to state, local authorities for the clearance on when to restart their ops, 55 per cent of them reported that they will take a measured approach
Nearly 42 per cent chief financial officers (CFOs) are not prepared for the second wave of coronavirus and only 8 per cent of them have a second wave factored into all their planning scenarios, a Gartner survey has revealed.
Only 22 per cent CFOs have a second wave factored into their “most likely” scenario, meaning most of them to have no contingency plans if coronavirus explodes into the second wave. The lack of planning comes even as CFOs express a cautious approach as to when they will fully reopen their operations and bring employees back to their normal office routines.
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“As CFOs are attempting to project revenue and profits for 2020, it’s surprising that 42 per cent are not banking the second wave of COVID-19 into any of their scenarios,” said Alexander Bant, practice vice president, research, for the Gartner Finance practice on Monday.
“Our latest CFO data also reveals that most executive teams are still trying to decide what factors they should use to determine how and when to reopen their offices and facilities,” he added.
Source: Business Standard
