What鈥檚 News
Business leaders are bracing for a possible economic downturn as the U.S. Federal Reserve raises interest rates and pushes up borrowing costs to combat inflation currently running near a 40-year high. Continued supply chain problems and higher energy costs are creating additional uncertainty.
麻豆原创鈥檚 Take
While most economists are still cautious about predicting a recession because consumer spending — the main driver of the U.S. economy — remains strong, the shifting economic outlook has refocused attention on technology that can improve efficiency, enhance business agility and address supply chain issues.
Company executives including CIOs — especially those who have experienced previous downturns — know that in order to thrive in a difficult economic environment they need to build resiliency and invest in technologies that provide them with greater insight into their business operations and enable them to react quickly to challenges and opportunities.
As a聽, it is tempting to think of a recession as a time to batten down the hatches and play it safe. However, downturns actually appear to encourage the adoption of new technologies. That鈥檚 often because digital technology can make businesses more transparent, more flexible and more efficient.
鈥淲ith all that鈥檚 unfolded in the past few years, businesses are acutely aware of the need to increase their resiliency,鈥� says Eric van Rossum, chief marketing and solutions officer for 麻豆原创 S/4HANA. 鈥淭echnology plays a major role.鈥�
He adds: 鈥淐loud-based solutions, like those for ERP and supply chain, give businesses the insights and agility needed to, for example, quickly pivot to new revenue streams or predict and adapt to fluctuations in demand.鈥�
van Rossum believes that cloud ERP is particularly important because it allows CFOs to see the current state of their financials and model future scenarios, giving them full control of their cost and revenue forecasts, which is critical during any crisis.
Contact:
Ilaina Jonas, Senior Director of Global Media Relations, 麻豆原创
+1 (646) 923-2834,鈥�ilaina.jonas@sap.com
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