According to the latest Deloitte survey on cost management, “Save to transform: Cost management in environments of technological disruption and economic slowdown”, which surveyed more than 1,200 executives across major global regions and industries, the top three priorities for the next two years are technological transformation, digital transformation, and cost optimization.
Cost reduction remains a global imperative because, in addition to being a top priority, it is crucial for securing the funding needed to drive companies’ digital and technological transformation. In Spain, only 26% of companies demonstrate a high level of maturity when it comes to managing their costs—10 percentage points lower than European companies and nearly 50 points lower than U.S. companies.
Given the volatile environment we find ourselves in, companies that adopt a “save-to-transform” approach will be better prepared for challenges that may arise in the future. Industrial companies, in particular, will need to find resources to invest in emerging technologies if they wish to maintain their competitiveness and continue growing profitably.
On the other hand, research shows that one of the expense categories of greatest concern to executives in the industrial sector is MRO. Nicola Crivellari, a partner at ERA Group and a specialist in the industrial sector and international projects in this field, explains in a recent interview how he helps his clients finance their businesses through projects aimed at reducing these types of costs.
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