Even when your company has rock-solid spending plans and well-crafted spending policies, it must be ready for change.
That’s because the future is packed with unknowns:
The financial outlook is uneven globally and unlikely to change in the near term — the International Monetary Fund (IMF) projects 3% global growth in 2028 (the lowest medium-term forecast since 1990). In response, most CFOs are being cautious by focusing on cost reduction and cash flow management to continue driving profitability.
Growth projections, corporate priorities, and business budgets will always change and evolve. For example, 56% of CFOs and heads of finance agree that the growing complexity of financial forecasting and budgeting is the biggest internal challenge to their business.
Tax rules, changes in supplier relationships and costs, and budget forecasts will continue to shift.
Sales momentum will go through cycles of speeding up and slowing down — and spending usually follows suit.
