Accounting Firms

SMB CFOs ready to adopt crypto currencies, Sage finds

Over two-fifths (44%) of finance leaders reporting they have used cryptocurrency as payment for personal transactions, whilst nearly half (48%) have personally invested in cryptocurrency, and another half (49%) plan to invest in it

SMB CFOs are ready to adopt crypto currencies according to a recent survey from Sage, with over two-fifths (44%) of finance leaders reporting they have used cryptocurrency as payment for personal transactions, whilst nearly half (48%) have personally invested in cryptocurrency, and another half (49%) plan to invest in it.

While only 17% of global finance teams reported currently accepting cryptocurrency transactions, one-third (33%) plan to accept decentralised currencies within the next 12 months. Just over half (52%) believe these currencies will prove “extremely” viable as a long-term payment solution.

The biggest hurdles surrounding adoption of cryptocurrencies were internal ESG policies (22%) and finding the right talent to manage it (22%).

Meanwhile, over one-third (36%) of finance teams said their company has already entered the metaverse, while half (52%) added they plan to increase their presence over the coming year.

Over half (54%) of respondents are planning learning programs in the metaverse, and almost half (42%) are purchasing virtual real estate (via NFTs).

Jonathan Howell, chief financial officer at Sage, said: “Today’s finance leaders are future-focused strategists and advisors capable of providing guidance and commercial insights where their businesses need them most.

“While getting the numbers right will always remain critical, CFOs are now a real blend of traits using real-time analysis, predictive modelling and forecasting to shape the future as well as reporting on what’s gone before.”

He added: “This requires greater flexibility. CFOs must now balance more traditional finance skill sets with an appreciation for emerging technology and an awareness of how to balance purpose and profit to deliver long-term, sustainable value.”

Show More
Back to top button