- February 10, 2022
- Posted by: Bastion team
- Category: World News
DENVER, Feb. 10, 2022 /PRNewswire/ — BillingPlatform, the revenue management solution for today’s innovative business models, today released its 2022 Trends in Finance Survey: Market Outlook & Strategies for Revenue Growth. The findings provide an in-depth look at how the office of the CFO is adapting to macroeconomic trends, the resulting budget implications and challenges facing finance departments and what strategies they expect to drive revenue growth. Conducted in December 2021, the survey included more than 300 CFOs and senior finance executives who represent a range of industries and vertical markets, with most of the companies generating $100 million or more in revenue per year.
As companies across the U.S. and around the world continue to deal with the economic impact of the ongoing COVID-19 pandemic, finance teams are realistic about its influence on 2022 budgets, but see signs of hope:
- Expecting Less of an Impact – 21% of respondents believe it is “likely” that economic factors will have a big impact on their budgets in 2022, down from 39% of all respondents in 2021.
- Growing Budgets – Even against the pressure of the macroeconomic environment, 79% of respondents expect their 2022 budgets to grow, compared to just 61% in 2021, with 11% specifically anticipating a large increase in their 2022 budgets.
- The Need for Automated Revenue Recognition – 73% of respondents plan to invest in systems or technology to automate revenue recognition. In addition,…