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Soldo’s September Spend Index: Business trends and benchmarking for finance leaders 

1 October 2024  |  3 minutes read

Understanding the evolving business landscape has never been more crucial for finance leaders. Soldo’s September Spend Index looks at spending from over 18,000 businesses in light of recent political and economic changes. The Index also benchmarks spend by sector to help you understand how your peers are spending.

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Dynamic shifts in advertising spend

Advertising spend has seen varied trends across regions. In the UK, businesses have pulled back, resulting in a 15% decrease, while Italian companies ramped up their advertising by 31%, betting on aggressive growth. This underscores the need for adaptable financial strategies that can quickly respond to external changes.

Utility spending and sustainability

Despite expectations of rising costs, spending on utilities has dipped in both the UK and Italy, thanks in part to new energy producers stabilising prices. This unexpected decrease presents an opportunity for CFOs to redirect savings towards sustainable technology and practices, aligning with growing environmental stewardship demands from stakeholders.

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Rise of nomadic spending

Nomadic employees — those who frequently working away from traditional office settings —continue to influence travel and entertainment (T&E) expenses. Spending in these categories has risen by 11% year-on-year, highlighting the shifting landscape of work and the importance of a proactive, agile and orderly approach to decentralised spending.

AI integration deepens

Artificial intelligence adoption is accelerating with a significant 177% increase in companies investing in AI tools like ChatGPT. This surge is not just about keeping up with technological trends but is an important part of maintaining a competitive edge in a rapidly evolving market.

Download the report now to gain business insights and benchmark your business against your peers.

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