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Financial Services Business Confidence Report Q4 2014

Financial Services Business Confidence Report Q4 2014

Synopsis

Financial Services Business Confidence Report Q4 2014 is a new report by Timetric that globally analyzes industry opinions on the latest economic and customer issues, and their impact on investment decisions and growth prospects in the financial services industry. This report also examines executive opinion of the current and future state of the economy and its effect on the industry. It analyzes the likely effect of supplier price changes, sales performance and staff headcount in the industry over October–December 2014. It also provides an overview of the key priorities, threats and opportunities for the global financial services industry over October–December 2014.

Summary

  • The report projects the current and future operating conditions of the financial services industry, and allows readers to make effective business decisions.
  • The report helps readers to take strategic decisions by understanding the present and future economic and customer issues including key growth regions.
  • Financial services industry suppliers will be provided with a clear overview of key challenges and opportunities, and identify the main priorities likely to affect the industry’s growth prospects.
  • The report forecasts the change in supplier prices of various products, which are likely to influence the industry’s growth prospects over October–December 2014.
  • The report helps executives to recognize the change in customer confidence levels in the global financial services industry over October–December 2014.
Scope

The report features the opinions of financial services industry respondents about the economic overview covering the following aspects:
  • The state of the economy
  • Growth prospects and customer confidence
  • Supplier prices and levels of expenditure
  • Organizational outlook and strategy
Reasons To Buy
  • This report is the result of an extensive survey drawn from Timetric’s exclusive panel of leading financial services industry executives.
  • The report analyzes current economic conditions prevailing around the world and their impact on the financial services industry.
  • The report forecasts company and industry growth prospects over October–December 2014.
  • The report provides information on the impact customer confidence, supplier prices, and staff headcount are likely to have on the investment decisions of industry executives over October–December 2014.
Key Highlights
  • Overall, 57% of financial services respondents state that they are operating in a stable economic environment, while 20% state that their current economic conditions are favorable.
  • The highest percentage of industry executives anticipate a positive outlook for company growth prospects over October–December 2014.
  • Operatives from North America anticipate highest increases in staff headcount and sales growth in October–December 2014.
  • Improving operational efficiency and customer retention are the most popular priorities by financial services industry executives operating across all regions.


  • Methodology and sample size
    • PROFILE OF RESPONDENTS
  • Confidence indices
    • Overall confidence index stands at 4.9 in the fourth quarter of 2014, compared to 5.0 in the third quarter of 2014
  • State of the economy
    • STATE OF THE ECONOMY: KEY POINTS
    • The majority of respondents view global economic conditions to be stable during the fourth quarter of 2014
    • In the fourth quarter of 2014, global executives expect economic conditions to be more favorable in Asia and North America
    • Economic conditions are expected to deteriorate in Western Europe and Africa, in the fourth quarter of 2014
    • Highest percentage of industry operatives from North America have favorable opinions about their region
    • STATE OF THE ECONOMY: IN THEIR WORDS
  • Growth prospects and customer confidence
    • GROWTH PROSPECTS AND CUSTOMER CONFIDENCE: KEY POINTS
    • Highest percentage of industry executives anticipate a better positive outlook for company growth prospects
    • Compared to the third quarter of 2014, executives are more optimistic about company and industry growth prospects
    • Optimism over company and industry growth prospects is high among operatives from the Rest of the World
    • Optimism over the company growth prospects increased across all the regions during the fourth quarter of 2014
    • Highest percentage of respondents project positive change in customer confidence during the fourth quarter of 2014
    • In the fourth quarter of 2014, customer confidence will be more positive in North America
    • Industry executives expect a further decline in customer confidence in Europe in the fourth quarter of 2014
    • CUSTOMER CONFIDENCE: IN THEIR WORDS
  • Supplier prices and levels of expenditure
    • SUPPLIER PRICE AND SALES VOLUMES: KEY POINTS
    • In the fourth quarter of 2014, industry executives expect an increase in supplier prices of IT services and recruitment
    • The supplier prices of IT services are projected to rise by 2.1% on average, in the fourth quarter of 2014
      • Table How do you think supplier prices will change over the next quarter compared to what they are now? IT services (Oct 2014-Dec 2014)
    • During the fourth quarter of 2014, supplier prices of IT services are forecast to decline in Europe
    • On average, recruitment prices are expected to rise by 2.8% in the fourth quarter of 2014
      • Table How do you think supplier prices will change over the next quarter compared to what they are now? Recruitment (Oct 2014-Dec 2014)
    • The highest increase in recruitment prices is seen in the Rest of the World during the fourth quarter of 2014
    • SUPPLIER PRICES: IN THEIR WORDS
    • Operatives from North America anticipate highest increases in staff headcount and sales growth
    • Industry executives plan to invest more on IT infrastructure in the fourth quarter of 2014
      • Table How do you think spend will change on the following activities over the next quarter, compared to the previous quarter in your organization? (Oct 2014-Dec 2014)
    • Compared to the third quarter of 2014, survey respondents stipulate reduction in overall expenditure in the fourth quarter of 2014
      • Table How do you think spend will change on the following activities over the next quarter, compared to the previous quarter in your organization? (Expenditure)
  • Organizational outlook and strategy
    • PRIORITIES AND CONCERNS: KEY POINTS
    • Economic, industrial and societal issues can impact operations, profitability and business strategies
    • Cyber crime and new competition are the common concerns for global financial service industry executives
    • Key concerns among financial services industry executives vary by region
    • Performance of the eurozone is the major concern for global financial services industry executives
      • Table How concerned are you about the following and the impact that they could have on your company's performance over the next quarter? (Those who said "concerned" or "very concerned") (Oct 2014-Dec 2014)
    • Concern over the performance of developing economies is forecast to reduce considerably in the fourth quarter of 2014
      • Table How concerned are you about the following and the impact that they could have on your company's performance over the next quarter? (Those who said "concerned" or "very concerned"): Global
    • Apprehension over unemployment levels and performance of North American economies increased in the fourth quarter of 2014
      • Table How concerned are you about the following and the impact that they could have on your company's performance over the next quarter? (Those who said "concerned" or "very concerned"): North America
    • Executives' concern over performance of the eurozone has increased significantly during the fourth quarter of 2014
      • Table How concerned are you about the following and the impact that they could have on your company's performance over the next quarter? (Those who said "concerned" or "very concerned"): Europe
    • Executives who operate in Asia-Pacific region are less worried over the unemployment levels during the fourth quarter of 2014
      • Table How concerned are you about the following and the impact that they could have on your company's performance over the next quarter? (Those who said "concerned" or "very concerned"): Asia-Pacific
    • During the fourth quarter of 2014, concern over the performance of the developing economies and unemployment reduced considerably
      • Table How concerned are you about the following and the impact that they could have on your company's performance over the next quarter? (Those who said "concerned" or "very concerned"): Rest of the World
    • Global financial services industry executives are highly concerned about cyber crime
      • Table How concerned are you about the following and the impact that they could have on your company's performance over the next quarter? (Those who said `concerned' or `very concerned') (Oct 2014-Dec 2014)
    • Worriment over threat of substitutes and new competition increased during the fourth quarter of 2014
      • Table How concerned are you about the following and the impact that they could have on your company's performance over the next quarter? (Those who said "concerned" or "very concerned"): Global
    • Executives' apprehension over social unrest decreased significantly during the fourth quarter of 2014
      • Table How concerned are you about the following and the impact that they could have on your company's performance over the next quarter? (Those who said "concerned" or "very concerned"): North America
    • Compared to the third quarter of 2014, survey respondents' worriment over threat of substitutes has increased in the fourth quarter of 2014
      • Table How concerned are you about the following and the impact that they could have on your company's performance over the next quarter? (Those who said "concerned" or "very concerned"): Europe
    • During the fourth quarter of 2014, concern over safety scares and health epidemics were reduced among executives
      • Table How concerned are you about the following and the impact that they could have on your company's performance over the next quarter? (Those who said "concerned" or "very concerned"): Asia-Pacific
    • Financial professionals are concerned over product or service safety scares during the fourth quarter of 2014
      • Table How concerned are you about the following and the impact that they could have on your company's performance over the next quarter? (Those who said "concerned" or "very concerned"): Rest of the World
    • Respondents from Europe and Asia-Pacific prioritized improving operational efficiency during the fourth quarter of 2014
    • Global financial services industry executives intend to focus on improving operational efficiency during the fourth quarter of 2014
    • CSR initiatives and developing contingency plans for unrest are the least immediate priorities for the organizations
      • Table How much of a priority are the following over the next quarter for your organization? (Those who said "high" or "very high") (Oct 2014-Dec 2014)
    • Industry executives intend to increase their focus on expansion into new markets during the fourth quarter of 2014
      • Table How much of a priority are the following over the next quarter for your organization? (Those who said "high" or "very high") (Oct 2014-Dec 2014)
  • Appendix

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