CFO Insights: How to Navigate Inflation and Other Signs of Economic Change

With soaring ranging between 8.8% in the United Kingdom and 6% in the United States at the beginning of 2023, companies are now facing a new set of macroeconomic concerns, including rising energy prices, high costs for skills, and volatile exchange rate fluctuations.^1-2  

This economic punch and fear of a potential recession are compelling finance leaders to be more wisely choosing their technology investment. Small and midsize businesses focus on automation to offset labor costs, moving to the cloud for more flexible pricing, and third-party resources to lower up-front costs.³ Meanwhile, large enterprises are increasing their focus on cash and liquidity as they fight to retain market position and, in some cases, find new opportunity for growth.⁴  

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_{¹ U.S. Bureau of Labor Statistics, “Consumer Price Index,” March 2023.} 

_{² Offices for National Statistics, “Inflation and Price Indices,” January 2023.} 

_{³ IDC, “The SMB Recession Toolkit,” IDC #US50292823, 2023.} 

_{⁴ IDC, “Seven Ways for CFOs to Fight Inflation,” 2023.}