A recent Monitor Daily article shared the results of a Deloitte survey estimating that 61% of CFOs expect to return to “near-normal operations” by 2021 and beyond. The piece highlighted a handful of interesting data points, including that just 1% of CFOs in the US and Europe rate global economic conditions as “good”. That is probably not terribly surprising, nor is the assumption that 2021 will be better than 2020. 53% agree that next year will be a bounce back year for overall economic conditions, the equipment finance industry included.
The high-level take away is that these days are rough, but tomorrow will be better. Leasepath takes pride in being forward-thinking, and there’s details and data points found in Deloitte’s survey that companies looking to rebound need to chew on.
For one, more than 70% of CFOs believe that work-from-home options will continue with no end in sight. If you’re accustomed to the mandate that you daily attendance in the office is a must, that number might be eye-popping at first. But remote work programs have become more and more common, and this represents a statistical skip moreso than a huge leap. It’s in line with another insight: companies focus first on cost reduction over revenue growth. Reducing organizational expense can take on many shapes. At Leasepath, we’re most interested in helping companies slash technology spending.
Leasepath serves clients as their central cloud workplace. The intelligent workplace is available anytime, anywhere, no questions asked. Archaic server architecture that is managed internally and costs tens, if not hundreds, of thousands of dollars to replace is the first place we can cut costs. On top of that, companies still need to account for staff to manage their server assets. And, there’s still the cost of mission critical software, including everything from Outlook, Word, legacy CRM and general ledger applications, among many others, to ensure that business can continue. In the face of a global pandemic, many organizations big and small buckled under the pressure.
It’s one thing if the world were going back to normal; we could all just weather the storm and wait it out. The fact that more than 70% believe that the world post-COVID looks different confirms that “wait it out” is not a viable strategy. If companies want to get back to growth, which the majority of CFOs believe is on the horizon, preparing for what their employees need and expect will be critical.
Cloud infrastructure is the way to both cut technology spending with a snap, and to providing their staff and customer base the tools they want and need. Leasepath is the true cloud solution built on Microsoft’s unparalleled Azure network. Making use of the Microsoft Power Platform, Leasepath provides the toolset and flexibility for your company to do business the way you want to, while still being well equipped for what customers will expect on the other side of an historic pandemic.
Take a look at Deloitte’s report, and reach out to Leasepath for more details on how to prepare and empower your business for what’s next in the world. Don’t be left waiting for the world to “get back to normal” and grab some of that equipment finance market share for yourself!