Spiraling inflation has caught many firms off-guard, forcing them to scramble and haphazardly adjust their pricing strategies. Deloitte makes a case for taking a structured approach to fighting inflation with price increases for the office of the CFO.
Making thoughtful investments in technology can have a long-term deflationary effect on not just business costs, but also the price of products and services. This CFO guide to battling inflation highlights Gartner’s suggestion – a two-pronged approach to making the right investments.
As the COVID-19 pandemic raged, many businesses set up response nerve centers with an enterprise-wide authority to coordinate strategy and test various approaches for a faster recovery. McKinsey believes that finance chiefs could take a similar approach to tackle inflation.
A survey of 5,700 firms shows that businesses that strategically cut costs during previous recessions have historically achieved higher shareholder returns. This comprehensive CFO guide for inflation also covers Bain & Co.’s six steps for cutting costs and future-proofing the value creation model.