by Dub Newman, Head of North America Global Transaction Services, Bank of America Merrill Lynch
Half a dozen years after the financial crisis, the economy in North America is exhibiting signs of solid growth again, and business leaders have regained their optimism. With multinational corporations in the region once again focusing on expansion, many in treasury are embarking on transformational initiatives to improve cash visibility, efficiency and control — even as they address regulatory challenges and manage an array of risks.
Returning economic strength
Results from Bank of America Merrill Lynch’s 2014 CFO Outlook provide evidence of an improving economy. Nearly all of the CFOs responding to our annual survey (94%) say they plan to pursue new growth strategies this year, due to their greater confidence in the economy and their companies’ performance.
CFOs’ annual economic ratings, which reflect economic confidence, saw a significant bump for the second straight year. Most respondents are forecasting increased sales in 2014 and plan to either expand or maintain the size of their workforces.