2014 the year of working the profit and loss harder
CFO.com recently published an article around the Eight Top Issues for CFOs in 2014*. The number one consideration was to ‘avoid choking off revenue growth’ or put another way, focus on growth oriented cost management.
The article commented: “Corporate profit margins are close to a 50-year high. Rigorous cost management and a disciplined drive for operational efficiencies helped fuel that profitability. But even as CFOs continue to drive the next iteration of cost take-out, to maximize revenue growth they also need to keep strategic reinvestment in the business on the table.”
This is great news for those tasked with managing cost – all the hard work driving down costs, eliminating waste and optimizing budgets has paid off. But with the focus moving from cost reduction to business expansion, how equipped are you to deal with the shift from savings targets to growth targets?…