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Financial directions - CFOs don't have strategy for property.
(From Financial Director)
According to Ernst & Young, chief financial officers don't treat property as a serious strategic boardroom issue, and UK companies are poorly equipped to face a downturn as a result.
A survey* of over 100 international CFOs reveals that, although corporate real estate is an organisation's second or third largest cost, and has risen in profile over the past five years, nearly one-quarter (23%) apply no measurement to monitor its contribution to the business.
Four-fifths of respondents implement some form of cost-reduction programme involving property, yet over one-third (37%) receive no management information on their real estate and 55% have no property strategy.
Over one-half (60%) of CFOs ...
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