Have you begun to consider the significance of 2024? The global paradigm has been shifting for more than a decade. And certainly, the whole world has changed since the pandemic. Without a crystal ball, the collective wisdom of our business leaders is that 2024 will test us in a way and at a pace never experienced in our lifetimes.
In this Special Edition newsletter, our thought leader partners share the insights gathered from your peers. The themes are consistent and complex, and the best advice is to be prepared for the unpredictable.
Resource constraints amid accountant shortages and a tight job market, along with employee well-being are universal challenges we will all continue to face. Automating your operations is a must. And taking care of scare resources like your people is essential.
The global and economic unknowns – inflation, recession, regional instability, regulatory changes – will keep you on your toes. Managing cash and mastering cost containment will be your superpowers.
AI (we don’t even need to spell it out anymore) is disrupting technology, human behavior, processes, and operations in an all-encompassing way. How that translates to your customer and employee relationships, the accelerated adoption of emerging technologies, and the real-time transparency of your business…. It’s only the beginning.
Scary as it all sounds, the fact is that there are opportunities to be had. From your real estate strategies to your people solutions, to your tech-driven growth plans, keep your mind open. Find strategic alignment and view your business through the lens of a different world. In twelve months, we may look back at January 2024 and find it unrecognizable.
As CFOs start a new and intriguing year, the question arises: What should populate their agenda?
We heard from numerous finance leaders and experts at SuiteWorld 2023, NetSuite’s annual user conference, and they were brimming with fresh and challenging ideas that can help companies right now.
The current office market landscape is witnessing a pronounced downturn, primarily catalyzed by the pervasive adoption of hybrid work models, resulting in substantial disruptions across major central business districts (CBDs) in the United States. This paradigm shift is significantly impacting non-trophy Class A office assets without views or other features that welcome workers to the office. Non-trophy office assets that were sold or recapitalized post-2016 are poised to confront challenges as the leases of the building expire, potentially leading to debt service issues. Conversely, trophy assets, particularly those offering views, have experienced an upward trajectory in rental rates as many companies with strong return to office adoption have sought to upgrade their space.
Premiere locations that offer amenities workers seek such as Salesforce Tower in San Francisco and Two Vanderbilt in New York City are not experiencing the same decline in demand as their non-view, tertiary location competitors.
After a tumultuous few years, 2023 brought business travel — and its corresponding expenses — fully back to life. But while the volume of traveling employees has returned to pre-pandemic levels, much has changed.
And before we get too familiar with the new travel patterns, generative AI is set to upend the world of T&E and beyond. The way we book travel, pay for business expenses, and manage the spectrum of T&E will look quite different 12 months from now.
Imagine a group of CFOs traveled from the past and found themselves at the close of 2023, they would be astonished at what they saw. Environmental, social and governance metrics and measurements would be top priority. Most of their finance organizations would be using generative artificial intelligence to enhance their business planning and analysis (BP&A) capabilities and/or bolster the company’s fraud-prevention activities. As you know, CFOs are currently tackling these high-stakes priorities and will continue to extend the finance organization’s expertise and value into every aspect of the enterprise strategy.
Research from Protiviti shows that CFOs who do so most effectively focus their time, resources and expertise in five areas.
Read more from the 2023 Global Finance Trends Survey Report.
Both workers and managers faced unique challenges in 2023. From the push and pull of remote work to rising employee burnout and shifting economic pressures, organizations and professionals have had to navigate a complex environment.
Looking ahead to 2024, one thing is clear: the job market will continue to be unpredictable and complex.
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