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Survey: 94% of CFOs to change risk strategy, post-COVID-19

  • Written by Steel Rose
  • More than 90% of CFOs predict their company will change its risk strategy going forward, and risk and trade challenges are top of mind for finance chiefs, a survey of 250 CFOs from credit insurance company Euler Hermes found. 

  • Additionally, over 90% of CFOs and their direct reports said COVID-19 has impacted their organization, with 61% reporting a year-over-year increase in customer payment defaults, and more than 2 in 5 experiencing major coronavirus-related cash flow disruptions.

  • Nearly half of CFOs revealed plans to be more restrictive with extending credit terms going forward. However, in the portion of the survey that took place prior to COVID-19, 80% of respondents said they had experienced a loss of business from stricter payment terms.

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