When the going gets tough(er)... streamline processes, squeeze costs out, and release the bots. A majority of our CFOs are focused on reducing SG&A costs this summer largely in response to the inflation, supply chain, and drought impacts on their businesses. That said, we also have been reporting on many businesses who are accelerating the use of technology to de-risk their reliance on human capital to solve complex process issues. The talent-labor crisis has put some conviction behind the technology investment decisions going into the 4th quarter and beyond. Regardless of interest rates, food and gas prices, and the cost of Florida real estate (those leaving Michigan, please turn the lights off..) the march to digital finance continues.
Lots of mixed signals in the economy and demand vectors to keep us all busy hammering away at our HP-12C this fall. Stay healthy and happy Labor Day!
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.