Managing Inflation or Focusing on Growth. Why not both?
A Sneak Peak of What’s Inside:
CFOs are at the helm of every company’s financial stability, prudently weighing the risks associated with any cost or investment against the current and predicted market. This presents unique challenges in today’s dynamic global economy. With the highest inflation rates the US has seen since the early 1980’s, CFOs are still uncertain about what lies ahead. It’s likely that they have never been responsible for the financial health of a company in such an uncertain time, or at least in such a volatile market. Tenured CFOs or finance leaders cannot take a page out of their 1980’s playbooks — too much has changed. The economic environment is different and much more interconnected on a global scale. The role of a CFO has also evolved. Nonetheless the rising costs of goods, services and talent and the increasing cost of doing business have CFOs tackling the difficult challenge of how best to reduce costs to offset inflation.
A February 2023 survey from CFO Dive found that more than 75% of CFOs cite inflation as a significant obstacle to achieving business objectives over the next 18 months and express uncertainty in evaluating the market properly to find the right solution. We spoke with several financial executives who are contemplating the right approach to increase or at least maintain profitability amid a turbulent economy while simultaneously planning for long-term sustainable growth. The consensus is that it requires calculated adjustments of the appropriate business operational levers.
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This white paper reviews the complexities of the current market that are directly impacting CFOs and effective strategies to mitigate inflation and plan for long-term growth.
What You’ll Learn:
- The three biggest challenges CFOs are facing in today’s market
- Four reasons to consider outsourcing
- Trends towards digitization and specialized talent to turn data into action
- Finding the balance between mitigating inflation and creating sustainable growth