Chief financial officers (CFOs) face many opposing forces. They need to control expenditure when margins are under pressure but cannot clamp down too hard as the company aims to drive growth and respond to market changes. There is a delicate balance to strike in order to manage and optimize spend without sacrificing agility.
Yet, as industries are disrupted and business models evolve, developing a targeted spend management strategy is vital to supporting CFOs’ efforts to achieve the business’s financial goals, including profitability.
In this report from The Economist, two themes emerge that underpin these efforts: the role of digitalization and open communication with internal and external stakeholders.
Download this complimentary report to learn more.