TelecomTV TelecomTV
  • News
  • Videos
  • Channels
  • Events
  • Network Partners
  • Industry Insights
  • Directory
  • Newsletters
  • Digital Platforms and Services
  • Open RAN
  • Cloud Native Telco
  • Telcos and Public Cloud
  • The Green Network
  • Private Networks
  • Open Telco Infra
  • 5G Evolution
  • Access Evolution
  • Edgenomics
  • Network Automation
  • 6G Research and Innovation
  • Security
  • More Topics
  • Network Partners
  • Industry Insights
  • Directory
  • Newsletters
  • |
  • About
  • Contact
  • |
  • Connect with us
  • Digital Platforms and Services
  • Open RAN
  • Cloud Native Telco
  • Telcos and Public Cloud
  • The Green Network
  • Private Networks
  • Open Telco Infra
  • 5G Evolution
  • Access Evolution
  • Edgenomics
  • Network Automation
  • 6G Research & Innovation
  • Security
  • Connect with TelecomTV
  • About
  • Privacy
  • Help
  • Contact
  • Sign In Register Subscribe
    • Subscribe
    • Sign In
    • Register
  • Search

Coronavirus

Coronavirus

Gartner finds 42% of CFOs have no contingency plans for 2nd wave of COVID-19

Apr 28, 2020

A Gartner, Inc. survey of 99 CFOs and finance leaders taken April 14-19, 2020* revealed that 42% of CFOs are not incorporating a second wave outbreak of COVID-19 in the financial scenarios they are building for the remainder of 2020.

Additional survey data showed that that only 8% of CFOs have a second wave factored into all their planning scenarios, and only 22% have a second wave factored into their “most likely” scenario. 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.

“As CFOs are attempting to project revenue and profits for 2020, it’s surprising that 42% are not baking a second wave of COVID-19 into any of their scenarios” said Alexander Bant, practice vice president, research, for the Gartner Finance practice. “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.”

While 81% of CFOs report that they will look to state and local authorities for clearance on when to restart their operations, 55% of CFOs reported that they will take a measured approach as to when their employees will return to offices, while 44% are unsure how employees will be brought back to work (see Figure 1). 

Figure 1: “For employees who are not working from their normal office or/or facility, once their office and/or facilities are re-opened, how will employees be brought back into work?”

Source: Gartner (April 2020)

A growing concern among CFOs about the pandemic’s duration, severity and related macroeconomic implications may be contributing to a disconnect between when CFOs perceive they are allowed to reopen their facilities for business, compared with their own specific plans for accelerating employees return to physical locations.  

“Many CFOs seem to be conscious of moving too quickly, with only 4% of CFOs telling us that their organizations will require employees to immediately return to the office, even after receiving approval from state and local authorities to reopen their physical facilities,” said Mr. Bant.

Worries About Revenue Decline, As Pandemic Concerns Mount

Despite the lack of contingency planning for a second wave of COVID-19, CFOs have clearly become more concerned about the risks associated with the pandemic broadly, with CFOs citing “macro-pandemic concerns” as their top concern at more than double the rate they did at the beginning of April. These concerns have grown while fears about revenue losses and employee management issues, such as productivity losses and meeting payroll, have declined.

The concerns about the big picture implications of the pandemic have grown to tie cash flow worries as the top concern cited by CFOs in April about the COVID-19 crisis, with each category selected by 28% of the CFOs surveyed.

Related Topics
  • Access Evolution,
  • Broadband,
  • Coronavirus,
  • Enterprise,
  • Gartner,
  • Global,
  • Policy & Regulation,
  • Tracker

More Like This

Access Evolution

Inmarsat claims IoT is poised to trump cloud

Oct 14, 2021

Digital Platforms and Services

Lockdowns ended up being involuntary experiments in Hybrid Working, study finds

Sep 29, 2021

Digital Platforms and Services

Working on that new hybrid work model

Sep 22, 2021

Device Software & Apps

Collaboration applications saw doubled revenues and Joined the mainstream in 2020, says IDC

Aug 30, 2021

Access Evolution

The Future of Work and how to prepare for it

Jun 30, 2021

Email Newsletters

Stay up to date with the latest industry developments: sign up to receive TelecomTV's top news and videos plus exclusive subscriber-only content direct to your inbox – including our daily news briefing and weekly wrap.

Subscribe

Top Picks

Highlights of our content from across TelecomTV today

0:46

The Cloud Native Telco Summit returns this September!

8:32

Azita Arvani on Being a Female Leader at Rakuten Symphony

16:19

AT&T Amy Zwarico on securing telco applications in the public cloud

1:44

Join us for the greatest industry debate of the year!

TelecomTV
Company
  • About Us
  • Media Kit
  • Contact Us
Our Brands
  • DSP Leaders World Forum
  • Great Telco Debate
  • TelecomTV Events
Get In Touch
[email protected]
+44 (0) 207 448 1070
Connect With Us
  • Privacy
  • Cookies
  • Terms of Use
  • Legal Notices
  • Help

TelecomTV is produced by the team at Decisive Media.

© Decisive Media Limited 2023. All rights reserved. All brands and products are the trademarks of their respective holder(s).