CFOs are hiring outside consultants at an increasing rate.
Employment search and placement agency Robert Half Management Resources surveyed a group of 1,000 CFOs to determine their outside hiring needs.
More than half (61%) of CFOs whose firms work with consultants said they are likely to bring in project specialists for business systems and performance improvement initiatives.
Even in the core area of finance and accounting, CFOs said there was a 55% chance that they would bring in outside consultants to assist their operations. That’s down by 2% from two years ago.
Executives also anticipate a jump in the need for consultants to assist with finance optimization initiatives, taxation, and risk, and governance and compliance.
CFOs were asked, “In which of the following areas is your company likely to bring in financial consultants or project professionals in the next 12 months?
“As business systems evolve and become more complex, companies do not always have the requisite skills in-house,” said Paul McDonald, senior executive director for Robert Half.
“Organizations frequently turn to financial consultants, particularly at the pre- and post-implementation stages, for their subject matter expertise,” he said. “Their knowledge of different tools can ensure the system is optimized to deliver the financial and business data the company needs.”
This article is published in collaboration with Business Insider. Publication does not imply endorsement of views by the World Economic Forum.
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Author: James Kosur is the C-suite editor at Business Insider.
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