Increased Focus On Finance Module-

Amid the inflation, businesses will have a more conservative approach to spending in the next year, and for which companies will have increased focus on their finance module to keep a track of the current spending pattern, identify the prominent areas of waste, and increase profitability.

Reasons behind increased focus on finance module

1. Rise in price-sensitive consumers

2. Increasing competition

3. Secure profits in the bag

4. To avoid overspending and maintain a healthy cash flow

5. To keep tabs on the money coming in and going out

6. To get notified of the revenue shortfalls

Statsistics-

Deloitte’s quarterly CFO survey shows that cost reduction and increasing cash flow are the top two priorities for CFOs for 2023.