Uncertainty about interest rates and working capital topped CFOs’ treasury concerns heading into 2027, according to recently released results of a survey conducted by professional services firm Sikich.
When asked to name their biggest treasury-related worries, 48% of survey takers selected “interest-rate volatility.” An equal share chose “working-capital optimization,” in response to the question, which allowed respondents to select multiple responses. Access to capital, cited by 42% of respondents, was another treasury-related concern, per the survey.
Sikich conducted the survey Aug. 20 to Sept. 30 with 183 heads of finance and accounting in the U.S.
“CFOs are prepared to invest, but they continue to monitor the financial conditions that determine how much flexibility their organizations have,” the report said. “These pressures do not necessarily signal that organizations are pulling back. Instead, they reinforce the importance of timing, capital efficiency and scenario planning as CFOs evaluate technology, transactions and other growth opportunities.”
The annual survey otherwise detected a high level of confidence among respondents, who worked at organizations with around $1 million to more than $10 billion in annual revenue. To wit, 83% expressed confidence that their organizations will achieve their 2026 financial objectives, while 74% were more optimistic than they were a year ago.
In an email to CFO.com, Michelle Search, senior managing director of finance and accounting services at Sikich, said the survey showed that finance chiefs are confident “despite a complicated operating environment.”
“The findings point to a sense of disciplined optimism, with CFOs continuing to pursue growth and investment opportunities while closely monitoring risk and maintaining flexibility as conditions change,” she said.
And indeed, finance chiefs will need flexibility amid a changing political environment in the U.S. over the next two years. The survey was conducted before the midterm elections, in which Democrats took a majority of both chambers of Congress and voters largely voted in favor of putting limitations on data center projects in ballot referenda across the country.
It’s not yet clear how exactly election results will affect the economy, and particularly the artificial intelligence industry. At the very least, it represents a shift from the Trump administration’s laissez-faire stance on AI development. That matters because, as the Sikich survey attests, many finance chiefs are still betting big on the nascent technology
For instance, 56% of respondents said their organizations reported operational use of AI, up from 43% in the 2025 survey.
Sikich’s Search suggested finance teams take a thoughtful approach to adoption. “Rather than adopting AI simply because the technology is available,” she said, “CFOs should start with a clear business objective and establish a baseline for measuring results.”
“Metrics might include cycle time, error rates, rework or forecast accuracy, with two or three measures tied directly to the intended business outcome,” Search added. “That becomes particularly important as CFOs face increasing pressure to translate operational improvements from AI into measurable financial value.”
Perhaps it’s not surprising, then, that cybersecurity and AI governance were recurring themes in the survey. When asked about their biggest concerns overall, 34% of respondents named cybersecurity, while 29% picked an economic slowdown or recession. Meanwhile, it was clear from the results that more and more finance teams are pairing AI adoption plans with tighter governance. For instance, 30% identified AI implementation and governance as a “top board or investor priority.”
“As organizations invest more in AI, they need to be intentional about directing resources toward the use cases that align with business priorities and where the company believes AI can deliver the most value,” Search said. “Organizations should also consider AI as an enterprise-wide strategy rather than a series of disconnected departmental initiatives, particularly as adoption scales.”
