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The Soldo Spend Index – Spring 2024: Rise of AI and key insights for financial leaders
Amid significant political and economic shifts, navigating the new business landscape has become ever more important for finance leaders who are being recognised as agents of growth.
Soldo’s Spend Index offers a clear, data-driven snapshot of current spending trends for over 18,000 companies using Soldo to help inform strategic decision-making in unpredictable times.
Harnessing artificial intelligence
Artificial intelligence continues to be a significant driver of innovation and efficiency in business operations. According to our data, AI investment has surged 449% compared to last year. This substantial increase underscores the growing importance of technology in maintaining competitive advantage, improving productivity and adding value.
The report also identifies which industries and sectors are leading and lagging in their digital transformation efforts. Download the report to see how your business and sector compare.
Nomadic employee spending
By nomadic employee, we don’t mean the colleague taking video calls on a beach in Bali, we mean employees who spend an increasing amount of time working away from their home or office for work purposes, like a long-distance truck driver or salesperson.
Our data shows a 20% increase in travel and entertainment-related spending, reflecting changing trends in employee work locations and habits. For businesses with nomadic employees, this insight is particularly valuable for financial planning and employee enablement.
Practising sustainability
ESG is more than a buzzword – the report highlights a dramatic increase in environmentally focused spending with a 324% increase in EV charging station spending for large businesses.
This surge indicates a strong move towards more sustainable practices, a trend that is becoming increasingly important to customers, employees and investors alike.
The Soldo Spend Index is a business tool offering detailed insights into the spending behaviours shaping industries. It provides finance leaders with direct year-on-year comparisons, which is essential for effective forecasting and strategic planning.
How are spending trends shaping industries in 2024? Soldo’s latest Spend Index – Spring 2024 report provides insight into business spend and saving in 2024 and what this means for financial leaders who find themselves at the heart of these decisions.
