The Horváth CFO Study 2025 reveals a notable sense of optimism among Chief Financial Officers (CFOs), with 65% expressing positive expectations for the upcoming months. The study indicates that 32% anticipate stable growth, while an additional 33% foresee a significant increase by the end of 2025. This optimism persists despite a challenging economic climate, prompting questions about its underlying causes.
One key finding is that many CFOs do not expect the outcome of the upcoming US election, particularly a potential second term for Donald Trump, to negatively impact their financial departments. Only 18% expressed concern regarding this political development, and 34% maintained a neutral stance. Half of the respondents believe the election results will have no detrimental effect on their organisations.
Achim Wenning, head of the study and a partner at management consultancy Horváth, stated, “Political events and developments are always monitored by companies and factored into business assessments and decision-making. However, they are not always decisive for business prospects.”
The study highlights that companies demonstrating strong performance management are more likely to hold optimistic growth prospects for 2025. Effective performance management relies on a robust data-driven approach that facilitates timely decision-making.
Wenning noted that many financial managers rated their performance management as satisfactory across six of eight dimensions. Notably, three-quarters of respondents reported that their results positively impacted business development, with concrete optimisation measures being implemented consistently.
As organisations aim for a return to sustainable growth, the finance department's role becomes increasingly crucial. The study indicates a growing appreciation for finance functions, with 72% of CFOs recognising an uptick in internal inquiries.
However, this demand comes at a cost; 54% of CFOs report that their workload has surged dramatically in recent months, with no immediate plans for staff increases. Less than a third of finance departments can fill specialist roles in a timely manner.
Wenning remarked on the challenges: “Despite a general easing of the situation on the labour market, the specialists that are urgently needed in finance departments are still hard to come by.” He further noted that ongoing economic uncertainty complicates decisions on personnel increases in non-directly value-adding areas.
The study underscores the urgent need for experts in finance who can support strategic decision-making and address pressing corporate challenges.
