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Sign into your accountTech and Real Estate May Lead the Way
September 20 2009
TORONTO, Sept. 22 /CNW/ - Nearly two-thirds (64 percent) of Chief Financial Officers (CFOs) surveyed plan on making investments once the economy improves, and the top areas they are targeting include information technology and real estate. Twenty-one percent of respondents said they will be sourcing new or upgraded information technology systems and 20 percent plan to invest in new locations or real estate. More than one-quarter (27 percent) do not plan on making any investments.
The survey was developed by Robert Half Management Resources, the world's premier provider of senior-level accounting and finance professionals on a project and interim basis. It was conducted by an independent research firm and includes responses from 270 CFOs across Canada.
CFOs were asked, "In which one of the following areas are you most likely to invest once the economy improves?"
Their responses:
- Will invest - 64%
- New or upgraded IT systems - 21%
- New locations or real estate - 20%
- New products or service lines - 16%
- Mergers or acquisitions - 6%
- Other - 1%
- None/will not invest - 27%
- Don't know/refused - 9%
"As companies emerge from the downturn, previously postponed investments will again be considered, including technology infrastructure, new office locations and new product or service offerings," said David King, Executive Vice President for Robert Half Management Resources' Canadian operations. "Although finance executives may remain cautious when making large expenditures, they understand that these initiatives will help the company emerge stronger and more profitable." King added, "When making new investments in areas such as technology, companies will need to secure the right mix of specialized talent necessary to manage complex initiatives. Creating a staffing plan can help businesses maintain efficiency and effectiveness through periods of growth and transition."
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