As COVID restrictions continue to ease, business travel is increasing. Unfortunately, it’s also being impacted by the current economic climate – and you should expect prices to keep rising for the remainder of the year and the beginning of 2023. That’s according to the 2023 Global Business Travel Forecast from CWT and the Global Business […]
Mergers and acquisitions (M&A) and improving sustainability are the first areas your peers are looking at when it comes to cost control cuts, according to a recent Gartner survey of CFOs and CEOs. In a press release, Randeep Rathindran, vice president of research in the Gartner Finance practice, said cost control cuts in M&A makes […]
So what happens when inflation is high, everything seems to cost more and consumer confidence is reaching rock-bottom? One outcome tends to be inventory glut. And no one’s having a harder time moving product these days than retailers. The retail sector’s pain could provide relief for plenty of businesses looking to spruce up their workspaces […]
Your company could potentially save big bucks if employees buy their meds from a direct-to-consumer online pharmacy backed by NBA team owner, “Shark Tank” investor and billionaire internet entrepreneur Mark Cuban. Launched in January, the Mark Cuban Cost Plus Drug Co. sells generic prescription drugs – and only generic drugs – at the cost of […]
The hybrid work environment has many companies re-evaluating the cost-effectiveness of their real estate strategy. You may have noticed a major shift in work patterns in some industries: more telework and less five-day, in-person work environments. As a result, office spaces are being used differently than they were before 2020. Only 5% of workers are […]
A workcation – also known as “bleisure” travel – is when employees extend their business trip plans to enjoy sightseeing and other recreational activities. Allowing it is a good way to boost morale and encourage more employees to hit the road on company business, according to Dr. Jim Castagnera. In fact, 43% of business trips […]
To prevent rising interest rates from taking a bite out of the bottom line, your peers could be considering an interest rate hedging strategy in order to keep the rates low on variable-rate business loans and stabilize cash flow. Because higher interest rates increase the cost of borrowing money, it can result in postponement of […]
Corporate travel was a casualty of the COVID-19 pandemic. As business travel begins to rebound this summer, some organizations may continue to keep travel at a minimum as a method of cost control in response to inflation and the rising costs of supplies. Sure, that’s one approach to cost control – but is it the […]
With inflation’s impact on the costs of raw materials, commodities, labor and shipping, trying to control costs at your organization may feel like you’re climbing up a downward-moving escalator. But even with higher supplier prices across the board, it’s possible to fine-tune your strategy to control costs. A good first step is to ask your […]
