IT Management Slideshow: Tech CFOs Expect Revenue Increases, M+A Activity
By Dennis McCafferty | Posted 03-07-2011
To borrow from an oft-repeated adage: When your CFO is having a bad day, you're likely in for a bad day as well. After all, CFOs not only control the budget strings, many CIOs report directly to their organization's CFO. So, you may be encouraged to learn that CFOs at technology companies are fairly optimistic about business this year. They harbor expectations of rising revenues, as well as increasing access to capital and credit, according to a survey by BDO USA LLP, an accounting and consulting organization. "With liquidity improving and revenue on the rise, technology companies are poised for a strong 2011," said Aftab Jamil, partner and national leader of the tech/life sciences practice at BDO USA. "After scaling back on research and development and operational expenses, many technology companies are flush with cash and well-positioned to spend. Mergers and acquisitions will be a primary tool for companies looking to boost profitability through strategic growth and increased market share." There's also good news for homegrown IT talent. Tech CFOs are changing their tune when it comes to outsourcing. Some 100 CFOs took part in BDO's survey.