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Bay Area Chief Financial Officers say revenue will outpace headcount growth

SAN RAMON, Calif. May 22, 2012 San Francisco Bay Area www.amllp.com

Of the more than 200 Bay Area CFOs who answered Armanino McKenna’s annual CFO Benchmark Survey, released today, a majority say they plan to optimize processes, deploy new technology and increase the use of partnering to grow at a faster pace with small to no increases in headcount.

Moreover, 71 percent also indicated they are planning to expand into new geographic markets, including international, over the next three years. At the same time, a majority indicated they are looking for ways to cope with compliance, tax and other potential barriers to geographic expansion, particularly international expansion.

Another key trend revealed by the survey is that CFOs are rapidly moving away from providing financial data "upon request," to delivering financial and business intelligence information "on-demand" through self-service applications and technology. This is one of the strategies they are using to grow without adding headcount.

Matt Armanino

He adds that best-in-class CFOs link these breakthrough technologies with powerful back-end systems, and then combine them with process improvements and close alignment with company priorities to "quickly drive a shift to self-service and greatly increase productivity."

CFO Benchmark Survey Report,

January 2012

Additional findings from the 2012 CFO Benchmark Survey Report

  • CFOs are not as well aligned to their company priorities as they need to be
  • CFOs identified the top organizational risk for their companies as failure to improve operational processes
  • A high percentage of CFOs indicated low confidence levels regarding compliance with certain government regulations
  • More than 60 percent of CFOs want to add business intelligence and budgeting/forecasting software above all other technology, but identified obtaining the resources to deploy the technology as a challenge

http://www.amllp.com/pdfs/2012-CFO-Bechmark-Survey-Report.pdf

About Armanino McKenna LLP

California San Ramon San Francisco San Jose, California Portland, Oregon Seattle, Washington

Contacts:

Lori Colvin

Curt Olsen, APR

Armanino McKenna

AMF Media Group

925.790.2736

925.790.2620 office; 415.283.8017 mobile

[email protected]

[email protected]

SOURCE Armanino McKenna LLP

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