Has your business decided to hold off on any new spending in 2023? Are you in the process of cutting planned budgets while in a constant state of re-evaluation with your leadership team? You aren’t alone. With current economic uncertainty, many businesses are following suit.
But this approach comes at a big cost to your business: growth.
The time lost and churn created by collecting, analyzing, and disseminating financial information across your organization can quickly become a coagulant, slowing your teams down from activities that grow revenue and changing the focus from customer needs to internal needs. This creates a downward spiral of behavior that inhibits successful cultures and growth momentum for years.
Why is managing a changing company budget such a challenge this year? We’ve heard the following:
The good news is all of these issues can be solved with software at a fraction of the cost they used to. Technology has advanced greatly over the last 12 months, enabling easier integrations, simpler spreadsheet tools, and incredible security and control features.
Telemetry is one of the platforms purpose-built to help you more easily manage financials across your entire company. Spreadsheets cannot do it alone. Telemetry is the easiest way to create, track, and collaborate on financials.
How does Telemetry solve these problems?
As you consider where the new budget is spent to find savings and efficiencies, few are more important and impactful than an FP&A platform such as Telemetry.
So how do you responsibly manage a budget in constant evaluation? Successful companies do this by leveraging great leadership and teams. Telemetry is the connective tissue you need today to empower those teams to grow with the right information at their fingertips.