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Survey Identifies Need For Consultants For Financial Systems Upgrades

MENLO PARK, CA -- Just as a great mechanic can extend the life of an older car, a project consultant could be the Mr. Goodwrench of a systems upgrade. More than one-third (37 percent) of chief financial officers (CFOs) recently interviewed said financial systems upgrades top their list of projects for which they are likely to bring in financial consultants over the next three years.

The survey was developed by Robert Half Management Resources, the premier provider of senior-level accounting and finance professionals to supplement companies’ project and interim staffing needs. It was conducted by an independent research firm from Sept. 23 to Oct.15, 2008, and is based on interviews with more than 1,400 CFOs across the United States.

CFOs were asked, “In which one of the following areas are businesses most likely to bring in financial consultants or project professionals over the next three years?” Their responses:

Financial system upgrades   37%
Business process re-engineering   13%
Turnaround management   10%
Mergers and acquisitions   8%
Corporate governance   6%
Other   1%
None   16%
Don't know/no answer      9%
    100%

“Despite lean economic times, many companies have to bear the expense of replacing or modifying outdated financial systems to improve efficiency, and firms need expert help to implement these initiatives,” said Paul McDonald, executive director of Robert Half Management Resources. “These projects typically require highly skilled, experienced professionals for only a finite period of time.”

McDonald added that using project professionals is a cost-effective staffing strategy and also can result in less need for continual layoffs and rehiring due to business fluctuations. “When used properly to augment staff, bringing in skilled consultants can increase productivity, profitability and morale.”

About the Survey
The national study was developed by Robert Half Management Resources. It was conducted by an independent research firm and is based on more than 1,400 telephone interviews with CFOs from a random sample of U.S. companies with 20 or more employees. For the study to be statistically representative and ensure that companies from all segments are represented, the sample was stratified by geographic region and number of employees. The results were then weighted to reflect the proper proportion of employees within each region.

About Robert Half Management Resources
Robert Half Management Resources was founded in 1997 and is the premier provider of senior-level accounting and finance professionals to supplement companies’ project and interim staffing needs. The company has more than 150 locations worldwide and offers online job search services at www.roberthalfmr.com.

 

 

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