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Finance has always had to find ways to accomplish its goals using fewer resources. But now that it is expected to help deliver critical enterprise objectives, like formulating business strategy, might that change?
Not in 2018, according to The Hackett Group’s Key Issues Study, even with the windfall generated by U.S. corporate tax cuts.
Respondents to Hackett’s survey, which polls finance leaders of global companies with more than $1 billion in revenue, said they expected finance department budgets to be cut 1.3% in 2018. That’s despite forecast revenue growth of 3.6%.
That 1.3% is better than the past two years (cuts of 4% in 2016 and 2% in 2017) but it is also larger than predicted cuts to both human resources and procurement departments in 2018. And it’s...