Businesses Respond to Inflation With Investment in Tech Transformation as Concerns of Recession Linger - Taulia
Financial decision-makers across regions are investing in automation (37%) and supply chain technology (37%) as businesses respond to inflation and lingering concerns about a recession, according to new research from Taulia, the working capital management solutions provider.
The survey, which was carried out amongst more than 500 senior financial decisions-makers in the U.S., UK, Germany and Singapore found that businesses in Singapore and the U.S. are more likely to invest in technology and infrastructure than undertake cost-cutting measures, such as seeking cheaper suppliers, reducing staff expenses, and working more efficiently with raw materials and energy, as economic uncertainty continues.
U.S. decision-makers said they are prioritizing investment in automation (43%) and supply chain management tech (41%) alongside cutting costs (41%). Financial decision-makers in Singapore are more likely to invest in supply chain management tech (46%) and automation (44%) than cutting costs (37%).
Cedric Bru, CEO of Taulia, said: “Contractionary monetary policy to fight off inflation has driven concerns about a recession in many regions. While layoffs are happening, especially in some industries, it is encouraging that we are seeing businesses explore alternatives to extreme cost-cutting that has characterized recessions of the past. We are also seeing a strong trend of investment as business leaders look to instill resilience and find creative ways to continue doing business in the face of adversity.”
“This intelligence is an invaluable resource for businesses looking to reorganize their supply chains and rethink their financial arrangements to suit a fast-changing business environment in which priorities are very different now than a few months ago.”
Notes to editors:
Research conducted by Opinium among 550 financial decision-makers in the UK, U.S., Germany, and Singapore at businesses of USD 750 million + annual revenue between 10-24 October 2022.
Taulia is a fintech provider of working capital management solutions headquartered in San Francisco, California. Taulia helps companies access value tied up in their payables, receivables, and inventory. A network of more than 2 million businesses use Taulia’s platform to determine when they want to pay and be paid. Taulia enables its customers to execute their working capital strategies, support their suppliers with early payment, and contribute to building sustainable supply chains. Taulia processes more than $500 billion each year and is trusted by the world’s largest companies, including Airbus, AstraZeneca, and Nissan. In March 2022, Taulia became part of SAP. Taulia operates as an independent company with its own brand in the SAP Group.
For more information, please visit www.taulia.com.