As inflation reaches new heights, the organizational imperative to reduce costs is growing. With an eye toward the future, forward-thinking executives will go beyond cost-cutting initiatives to rethink spend. One area ripe for such a strategic approach is telecom.
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Rising interest rates and concerns about a possible recession are putting new pressures on CFOs to reduce fixed costs and better manage spend with their operating vendors. With 52% of CEOs and CFOs predicting inflation will stay at the same level or higher in 2023, it’s no wonder that nearly six in 10 CFOs polled by Grant Thornton cite cost optimization as their most urgent concern.
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Inflation continues to affect the economy, and warning signs of a possible recession persist. No matter what financial storms 2023 brings, one thing is certain: Forward-thinking CFOs will examine every area of spend to find cost reduction opportunities. In a Grant Thornton survey, 58% of CFOs say cost optimization is their biggest concern this year. Learn how to mitigate inflation and recession risk with four cost optimization priorities.
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With inflation reaching its highest point in more than 40 years, CFOs are taking a closer look at ways to contain fixed-cost spend categories. When it comes to waste and recycling costs, it’s not as simple as asking your vendors for fair market pricing.
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