TCS 2021 Global Financial Leadership Study

Industry

Banking

Highlights

Revenue Spotlight: Large vs mid-size companies
Our study findings show most finance leaders are anticipating their FP&A teams will play a key role in driving recovery and supporting sustainable growth in the post-pandemic era. Are they ready for the challenge?
In this article, you’ll uncover unique insights about how finance leaders at large enterprises (firms with revenues of $10 billion+) compare to mid-sized companies (those with $5 billion–$9.99 billion of revenues in 2019, the year before the crisis).

Insights in this article

Insights in this article

Global Financial

Essential takeaways

Mid-sized businesses

TCS surveyed 750 global financial leaders across the 9 countries.

Specifically, we asked about their:

Current FP&A strengths and weaknesses
Priorities for investment and improvement

Essential takeaways

The largest organizations have made more significant investments in new skills and competencies in their FP&A teams.

In the past year, 70% of large enterprises have invested in data and analytics, while only 58% of mid-sized companies say the same
65% invested in advanced FP&A technology capabilities, like AI and machine learning, compared to 47% of mid-sized companies

Mid-sized businesses

The danger for mid-sized businesses is that their larger rivals may be moving ahead more quickly:

65% of the large enterprises we surveyed are confident that they are able to deliver short-term forecasts, compared with 45% of mid-sized companies
73% of large enterprises surveyed are able to develop integrated plans and forecasts, compared with 61% of mid-sized companies

Infographics

Financial planning and analysis (FP&A) teams have a key role in post pandemic recovery. But are they ready for the challenge?
FP&A teams are successfully forging ahead in the post-pandemic world. But there’s still work to do.
Trendsetters have higher FP&A maturity levels and rely more on data and analytics, and less on intuition, when planning and forecasting
Finance executives revealed what they consider their biggest gaps in FP&A capabilities.

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