Ramp reposted this
Fractional CFO for fast-growing companies | 400k+ Followers | Founder & CEO of Mighty Digits
Are you staying up to date with the latest Business Spending Benchmarks? This post has got you covered👇 Grab the FULL guide for FREE over here → https://bit.ly/3SSvGIL Our economy is constantly shifting…with new attention placed in different areas on an ongoing basis. Here is what you need to know: ➡️ TECHNOLOGY ✅ Emerging Investments in AI and creative tools ✅ Consistent increase in card and AP spend ✅ Significant increase in electronics and office expenses ✅ Strategic adjustments in advertising spend ✅ Dependence on cloud and SaaS Solutions ➡️ HEALTHCARE & BIOTECH ✅ Adoption of AI and digital tools ✅ Steady increase in card spend ✅ Fluctuations in AP spend ✅ Significant increases in advertising and general merchandise ✅ Reduced travel expenses ➡️ MANUFACTURING ✅ Emergence of AI and specialized software ✅ Fluctuating Card Spend ✅ Significant advertising spend increase ✅ Increased fuel/gas and office spend ✅ Enhanced digital marketing and technology investment ➡️ FINANCIAL SERVICES ✅ New vendor experimentation ✅ Steady card spend increase ✅ Generally rising AP spend ✅ Technology and office investments ✅ Persistent advertising importance ➡️ PROFESSIONAL SERVICES ✅ Steady increase in card spend ✅ Rising AP Spend ✅ Surge in Advertising and SaaS/Software spend ✅ Decreased Professional services spend ➡️ NONPROFITS ✅ Emerging technology and creative tools ✅ Consistent increase in card spend ✅ Significant lodging and charitable donation spends ✅ Declining advertising spend ✅ Diverse operational costs === A special thanks to Ramp for both putting together this content as well as sponsoring this post! Be sure to download the full guide for FREE via the link above
This in-depth Business Spending Benchmarks guide offers valuable insights into key trends across industries. Leveraging AI, adapting to evolving spend patterns, and making strategic investments are crucial for staying competitive in today's dynamic business landscape.
This guide is essential for staying current with evolving business spending trends across multiple sectors.
As we track these trends, it's clear: staying informed isn't just about benchmarking Josh. It's about anticipating the next wave of change.
Thanks for sharing, Josh! The more you know 👏
Technology is evolving really fast, Josh! Almost all industries are seeing a big shift in AI. Many new tools and software are also coming out in the finance & accounting industry. Great guide here.
Interesting observations on tech. Useful, thanks Josh Aharonoff, CPA
Head of Finance | ACA | FMVA®I FP&A | Data Analytics | AI Enthusiast | 17+ Years Experience
2moThank you for sharing this comprehensive guide! It's fascinating to see how different sectors are adapting their spending strategies in response to economic shifts. One additional insight to consider is the role of sustainability in business spending. Companies across industries are increasingly investing in sustainable practices and green technologies, which not only align with regulatory requirements but also enhance brand reputation and operational efficiency. Additionally, the rise of remote work has led to a reallocation of resources, with businesses investing more in digital infrastructure and less in physical office spaces. These trends are crucial for staying competitive and resilient in today's dynamic market.