CHICAGO — Prime Advantage, a leading buying consortium for midsized manufacturers, announced the findings of its sixth annual Group CFO Survey, revealing financial projections and top concerns of its member companies’ CFOs in 2014. The survey indicates these CFOs remain optimistic about financial prospects and are focused on growth, as indicated by increased capital investment and hiring.
Some of the key findings include:
• Sixty-five percent of CFOs said they were more optimistic about the financial prospects for their companies in 2014, a slight increase from 2013's result of 64 percent.
• For the second year in a row, 72 percent reported that they are planning capital expenditures in computer hardware and software, indicating a strong and sustained commitment to technology investments by small and midsized manufacturers.
• Ninety-four percent said they were ready to comply with the Affordable Care Act.
• In addition, 75 percent said the Affordable Care Act forced them to change their health plan designs for 2014.
• Top concerns and priorities in 2014 include worries about the effectiveness of the U.S. government, effectively managing competitive price pressures, and maintaining margins.
• Sixty-five percent said they have open positions that they are seeking to fill, but are having difficulty filling the jobs because of a lack of qualified labor.
• Sixty-two percent of respondents forecast moderate growth for their key customers for the next 12 months, down from 73 percent in 2013.
To request a copy of the complete 2014 CFO survey report, click here.
Publication date: 4/7/2014