Tag: customer buying behaviour

The future is never set in stone, but it may be paved by technology. The International Monetary Fund (IMF) recently forecast that growth of the global economy will slow to 3.2% this year, down from 6.1% in 2021, and to an even lower 2.9% in 2023. This can be attributed to lasting effects of the pandemic, fallouts from the Ukraine-Russian conflict, skyrocketing inflation, and rising food and energy prices.

Despite innovation and change in the finance function, many CFOs are taking on this critical leadership role only to continue running the finance function as is. The actual value-unlock is achieved by digitising your finance function to free up your teams to focus on improved capital allocation, identification of growth opportunities and innovation as well as the application of sustainability techniques to drive down operating costs and reduce your organisation's carbon footprint.

COVID-19 vaccine rollouts worldwide have triggered the reboot of delayed expansion plans. Expansion into a new country will challenge the efficiency of a company’s existing delivery process. The winners in the global expansion race will be able to adjust products, prices and distribution channels according to local preferences.

The prospect of another year of lack-lustre growth presents forward-thinking business leaders with the perfect reason to tap into the ‘experience economy’. The country’s lackadaisical approach to customer experience is a glaring gap that could deliver tangible results if properly filled.

2020 looks set to be an epic fight for survival as numerous socio-economic factors come into play that will further challenge businesses and their ability to achieve greater levels of customer satisfaction in a bid to retain and grow their customer base – from a looming recession, abysmal economic growth figures, political uncertainty and a disastrous return of load shedding.