Nearly half of financial professionals think that the current recession will be characterized by another large economic dip, and 74 percent see the recovery taking at least until mid 2010. Due in large part to increasing uncertainty in the market, three times as many companies (34 percent) re-planned or reforecast more than twice in Q3 versus Q2 of 2009. These striking observations and predictions are among the findings of an October poll of more than 140 financial executives conducted by Adaptive Planning and the Business Performance Management (BPM) Forum.

The Q3 2009 Business Volatility and Variables Survey revealed that 46 percent predict at “W-shape” recession with two big economic drops, suggesting that the worst is not yet behind us.  Fifty-seven percent are still facing high or very high levels of uncertainty in their business.

“In contrast to some recent positive signs in the stock market and corporate earnings season, we were surprised at the increasing levels of gloomy indicators from the study,” said William A. Soward, CEO of Adaptive Planning.  “What we’re seeing is financial departments and individuals that are under more pressure than ever in their careers to plan and predict business conditions better and more often.”

This BeyeNETWORK news item contains information from a recent press release by the company mentioned.