Global CEOs are concerned about inflation and supply chain disruptions on a macro level and internally focused on improving cash flow, the pace of digital transformation, sustainability and streamlining processes, according to The Conference Board.
The big picture for CEOs revolves around inflation and the balancing act between maintaining profit margins and passing on costs to customers. Supply chain issues, which were front and center during Celonis' recent CEO Council, are intertwined with inflation.
What's evident from The Conference Board survey, based on a global sample of 917 CEOs globally is that tackling inefficiency is going to be critical. Here's the list of internal concerns based on regions:
Key points in The Conference Board survey:
35% of CEOs expected pricing pressure to last until the end of 2022 with 24% predicting inflation to remain a problem until mid-2023.
31% of CEOs expected pricing pressure to last beyond 2023.
Efficiency gains and cost cutting was the No. 1 tactic to manage through pricing pressures.
The Conference Board said in its full report that COVID-19 drove a decade's worth of digital transformation, but CEOs need to push productivity gains. "Investment in technology is only a piece of the digital transformation puzzle. It also requires attention to change management, process reengineering, and workforce upskilling to enable a sustainable competitive advantage," said The Conference Board.
The bottom line: Efficient processes will play a role in tackling all those CEO concerns.