CFO Survey Global Report

The Kyriba OPR Index: measuring CFO confidence under pressure

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The CFO 2026 outlook: confidence, readiness, and agility Survey highlights: CFOs build confidence with optimism, preparedness, and risk intelligence

The Kyriba OPR Index: measuring CFO confidence under pressure

Key trend #1: The enduring trust gap Key trend #2: The era of engineered growth Key trend #3: The rise of risk-intelligent performance

In an era defined by volatility, confidence has become one of the most valuable, and fragile, currencies in business. For CFOs, confidence is a signal. It reflects how leaders interpret risk, allocate capital, and position their organizations for what comes next. When confidence rises, it often precedes investment, hiring, and innovation. When it weakens, it indicates caution and tighter control of liquidity.

To quantify this dynamic, Kyriba developed the OPR Index, a data-driven view of CFO confidence built around three forces that define modern financial leadership: Optimism, Preparedness, and Risk.

Methodology: understanding the OPR Index

Many indices measure CFO sentiment: how leaders feel about the economy or their business outlook. The OPR Index is designed to be more actionable: it separates optimism from the operational conditions required to sustain it.

In particular, the OPR Index elevates Preparedness as a key lever because it is the dimension CFOs can most directly influence. Preparedness reflects the operational capability to absorb shocks through strong fundamentals, such as visibility, connected systems, repeatable scenario planning, and faster decision cycles. In other words, the OPR Index is more than a readout of confidence: it’s a view into the drivers of confidence under pressure.

Rather than focusing on sentiment alone, the OPR Index blends how CFOs feel about the future with how ready they are to meet it. Kyriba developed the OPR Index using input from 1,400 CFOs across the eight countries surveyed: US, UK, Germany, France, Japan, Spain, Italy, and Singapore.

The index is constructed from responses to specific survey questions, grouped into three dimensions—Optimism, Preparedness, and Risk:

Dimension	What it captures	Survey questions
Optimism	Forward-looking optimism: CFO outlook on the economy and their organization; indicator of growth mindset and strategic intent	The percentage of positive sentiment based on the total of two survey questions: How are you feeling about economic outlook in 2025 compared to 2026? How are you feeling about your business’s outlook in 2025 compared to 2026?
Preparedness	Readiness and control: perceived ability to navigate disruption	The percentage reporting preparedness based on one question: To what extent do you feel prepared or unprepared to navigate sudden macroeconomic changes in 2026?
Risk	External uncertainty: pressures CFOs identify as most likely to disrupt performance	The average percentage expressing concern based on one question: To what extent do you agree or disagree with the following statement: “I am concerned about the potential negative impact(s) of the following on my business’ financial health and outlook.” Impacts included: market volatility; tariffs; new regulations or compliance laws; interest rates; currency volatility/instability; political conflict/governmental changes; supply chain issues; workforce issues; M&A activity; security & privacy; inflation/cost of living; decentralized finance.

Together, these dimensions form a practical equation for confidence:

OPR equation

This equation produces an OPR score on a 0–200 scale, where higher values indicate higher CFO confidence under pressure (reflecting stronger optimism and preparedness relative to perceived risk):

OPR scale

Because the OPR Index is intended to help CFOs interpret the confidence environment, the OPR score provides a directional signal for what’s likely shaping CFO decision-making and how peers may respond under different confidence conditions:

OPR 150+ Aspirational: CFOs double down on what’s working: scaling proven capabilities, accelerating decision cycles, and reinvesting capacity into growth while maintaining strong controls and auditability.

OPR 120-149 Assured: CFOs are positioned to pursue growth and transformation while maintaining resilience. They tend to move faster because operational foundations support tighter decision cycles and more decisive capital allocation.

OPR 90-119 Measured: CFOs remain constructive about opportunity, but are selective. They prioritize resilience and execution capacity: focusing on visibility, controls, and connectivity so optimism can translate into outcomes.

OPR 60-89 Cautious: CFOs are more constrained by pressure and may take a conservative stance on investment and transformation initiatives. In this zone, the fastest path to stronger confidence is typically raising Preparedness: improving liquidity visibility, accelerating forecasting and reporting cadence, and strengthening the connected data foundation required for auditable decision-making.

OPR <59 Vulnerable: CFOs prioritize stabilization: protecting liquidity, tightening controls, and raising preparedness quickly by improving cash visibility, data reliability, and connectivity to restore trusted decision-making.

This balanced model recognizes that true confidence is not blind positivity, but optimism grounded in realism and preparedness to absorb volatility. By connecting confidence to the tangible forces of preparedness and risk, OPR Index surfaces the why behind CFO decisions. It helps distinguish confidence built on control from confidence built on hope, a crucial distinction in an environment where optimism can mask exposure.

CFO insight

2026 global OPR score shows CFO confidence holds, but pressure mounts beneath the surface

This year’s results reflect that balance in action. When we apply the OPR equation to the global data, we see a confidence landscape shaped by competing forces: strong optimism about business performance, high levels of perceived preparedness, and a persistent sensitivity to macroeconomic risk. The resulting global OPR score captures the tension between these forces and offers a clear, data-backed view of how CFOs are entering 2026.

At 93.28, the global OPR shows confidence is measured and backed by preparation, but tempered by elevated risk.

Global OPR score

A global OPR of 93.28 signals a year defined by strong optimism and solid operational readiness, even as CFOs remain highly attuned to external pressures. Confidence levels are buoyed by a positive business outlook (77.43) and an unusually high sense of preparedness (90.21), indicating that CFOs feel equipped to navigate disruptions.

At the same time, a persistent risk environment—driven by inflation, geopolitical tension, regulatory shifts, and currency volatility—continues to exert meaningful pressure (74.36), preventing confidence from rising further.

In practical terms, a 93.28 OPR reflects “measured confidence”:

CFOs believe 2026 offers real opportunity,
They have strengthened their operational foundations,
But they will not ignore the signals of elevated risk.

CFOs are confident enough to pursue growth, but grounded enough to prioritize resilience, agility, and trusted data as they do it.

Confidence is local: inside the OPR by country

While the global OPR score reflects measured confidence overall, the picture becomes even more revealing at the country level. Confidence varies widely across regions, highlighting how local economic conditions, political environments, and liquidity risks shape CFO sentiment:

Singapore (107.58), Germany (103.93), the UK (101.23), and the US (100.93) stand out as the most confident markets globally. Their elevated OPR scores point to strong optimism bolstered by high preparedness and comparatively lower perceived risk, indicating environments where CFOs feel both empowered and protected heading into 2026.
Conversely, Spain (86.67), Italy (83.50), France (79.37), and especially Japan (64.50) show meaningfully lower OPR scores, signaling that CFOs in these markets may take more conservative stances on investment, liquidity management, and transformation initiatives.

Country-level OPR scores

To understand what’s driving country differences, we compare each market’s optimism and preparedness against its risk exposure. Two patterns emerge:

Confidence rises where optimism is matched by preparedness and risk is contained.
Confidence weakens where risk outpaces either optimism or preparedness.

CFO optimism vs. risk

CFO preparedness vs. risk

Taken together, these views explain why OPR diverges across markets. Confidence is highest where optimism and preparedness both clear the bar relative to risk, and it’s more cautious where risk dominates either input. In other words, the mix, not any single dimension, drives the spread.

What’s behind the regional differences: AI, connectivity, and visibility

Across markets, the survey points to several operational signals that track closely with preparedness and decision agility:

Depth of AI integration varies significantly by country (e.g., AI use “in all or the vast majority of processes” ranges from 34% in Japan to 68% in Singapore).
Connectivity of finance and treasury systems also differs by market. Higher-connectivity markets include Singapore (46%), the UK (43%), and the US (40%), while lower-connectivity markets include Italy (22%), France (29%), Germany (30%), Japan (32%), and Spain (33%).
Real-time cash and liquidity visibility remains uneven, with “fully complete, real-time cash visibility” ranging from 62% in Singapore to 22% in Italy (global average: 40%).

OPR country insights: implications for CFO priorities

Below is a concise interpretation of each market’s OPR result using survey indicators tied to preparedness, connectivity, and technology adoption.

Singapore (107.58): confidence with operational leverage
Singapore leads the OPR Index and shows the deepest AI integration: 68% of CFOs report integrating AI into all or the vast majority of processes, and 100% indicate active adoption (all + some processes). Singapore is also a higher-connectivity market (46%) and shows the highest rate of fully complete real-time cash visibility (62%). This combination supports faster decision cycles and positions CFOs to pursue growth while staying resilient.

Germany (103.93): high confidence amid lower connectivity
Germany is among the most confident markets, despite lower connectivity (30%) and a mid-range fully complete real-time cash visibility rate (43%). AI adoption is widespread (38% in all/most processes; 54% in some processes), suggesting confidence grounded in preparedness and disciplined execution as integration depth matures. Strengthening connectivity and end-to-end integration would help convert insight into faster decision cycles and reduce operational friction under pressure.

United Kingdom (101.23): confident, scaling AI with strong connectivity
The UK is a higher-connectivity market (43%) and reports mid-range fully complete real-time cash visibility (44%), with AI adoption concentrated in partial integration (52% in some processes, 43% deep integration). These factors indicate a market in a scale-up phase: CFOs are confident, and the next step is moving from pockets of AI adoption to broader workflow integration—supported by strong connectivity.

United States (100.93): confidence built on pace and AI adoption depth
The US shows strong deep AI integration (57% in all/most processes; 41% in some processes), sits in the higher-connectivity band (40%), and reports relatively strong fully complete real-time cash visibility (48%). This combination supports faster reporting and forecasting cycles, strengthening preparedness so CFOs can act decisively without compromising control.

Spain (86.67): measured confidence with execution upside
Spain’s OPR is below the global leaders, and it is classified among lower-connectivity markets (33%). AI adoption indicates widespread engagement (45% deep integration, 48% some processes) and relatively low resistance, while fully complete real-time cash visibility is mid-range (41%). The clearest priority implied by this profile is strengthening connectivity and real-time visibility so that adoption translates into consistent, auditable decision-making across the enterprise.

Italy (83.50): optimism and ambition, constrained by foundational gaps
Italy has the lowest connectivity among the markets listed (22%) and the lowest rate of fully complete real-time cash visibility (22%). AI integration appears active (42% deep integration; 49% in some processes), which underscores a classic pattern: ambition can outpace infrastructure. The solution here is clear: preparedness gains will be most effectively unlocked by improving integration, visibility, and the operational plumbing that enables repeatable execution under pressure.

France (79.37): confidence pressured by visibility and connectivity constraints
France is below the global average on fully complete real-time cash visibility (32%) and sits in the lower-connectivity group (29%). AI adoption is active but more weighted toward partial integration (48% some processes; 38% deep integration; 9% planning). These factors suggest a market where advancing preparedness—through connectivity, visibility, and data reliability—can reduce risk sensitivity and improve confidence.

Japan (64.50): lowest confidence; strongest case for preparedness-led improvement
Japan is the lowest-confidence market in the OPR Index. It is also in the lower-connectivity group (32%) and reports low fully complete real-time cash visibility (27%). Japan has the highest “planning to integrate AI” rate (16%) and the lowest deep AI integration among the markets (34% in all/most processes). The implication is that the largest confidence gains are likely to come from strengthening connectivity and real-time cash visibility, creating the foundation for reliable, auditable decision-making at scale. From there, moving AI adoption from “planned” to “operational” can help accelerate reporting and forecasting cycles without sacrificing control.

These country-level variations reinforce an essential theme: CFO confidence is not monolithic. It is shaped locally, conditioned by risk, and deeply influenced by the degree of operational control leaders feel they have. This geographic texture sets up the deeper exploration of trust, growth, and risk in the sections ahead.

To discover more about what’s shaping confidence and what CFOs are doing about it, explore the three trends behind the OPR score: the enduring trust gap, the era of engineered growth, and the rise of risk-intelligent performance.