The Consumer Prices Index (CPI) rose by 11.1% in the 12 months to October 2022, up from 10.1% in September 2022.
Adam Zoucha MD EMEA of FloQast, says ongoing inflationary pressures are continuing to test finance teams. With growing demand from leadership to deliver agile, accurate reporting, those with the right combination of tools will be better placed to navigate ongoing economic pressures.
He says: “Continued, spiralling inflation is tying finance teams in knots. Rising costs and loomingrecession are leading to more intense scrutiny on company expenditure. Accurate financial reporting at lightning speed is essential for improving decision-making.
“Accountants must do more with less. But, with the proper consolidation of intelligent automation, in-depth visibility and people-centric collaboration the ship can be righted, cost inflation can be accommodated, and suitable business decisions can be used to navigate the economy’s ongoing downward pressure.”
FloQast delivers workflow automation software enabling organizations to operationalize accounting excellence. Trusted by more than 1,800 accounting teams – including Twilio, Los Angeles Lakers, Zoom, and Snowflake – FloQast was built by accountants, for accountants to enhance the way accounting teams work. FloQast enables customers to streamline processes such as automated reconciliations, documentation requests, and other workflows that impact the month-end close, financial reporting, and payroll, and is consistently rated #1 across all user review sites. Learn more at FloQast.com.
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