As CFOs keep a tight grip on profits, technology and digital transformation remain one area where finance chiefs are still willing to splurge.
According to a new quarterly survey from Grant Thornton, 58% of finance leaders plan to increase their spending on IT and digital transformation.
This represents the highest percentage of CFOs who plan to increase spending on digital transformation since the first quarter of 2021.
According to the Q3 survey, 28% of finance chiefs cited pessimism about the future of the economy, even though 75% of CFOs are also predicting growth in their net profits.
The survey also found that companies are more proactively taking steps to adopt technologies that can help add more efficiency to their finance functions. See more key findings.