Start 2024 Budget Planning with Best Practices Benchmarking from BuyerCaddy

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Right now, from talking with our customers, we know that finance departments are starting to look at 2024 budget proposals. And, we have also heard that, since every recession in the last 20 years has been preceded by interest rates plateauing – and interest rates started to plateau this last June – this year’s financial year’s planning process will be especially challenging.

BuyerCaddy’s customers are now taking a more cautious approach due to the current economic climate, being conservative with spend and are carefully evaluating all new spend and investment requests. Our customers  are also encouraging their business unit stakeholders to explore internal alternatives for cost savings and optimization before considering new purchases.

“One of the biggest pain points among customers we work with is simply lack of visibility to all the tools their company has in its technology stack, to determine what’s not needed and, also importantly,  determining critical pieces that may be missing.  As a leader, I have personally experienced this struggle. Our mission at BuyerCaddy is to alleviate that frustration. Your tools should be easily identifiable, with seamless integration through your environment to drive productivity, and planning.” – Craig Harris, CEO and Founder of BuyerCaddy.

In fifteen minutes, BuyerCaddy can provide you with a complementary account and analysis of where there may be redundancies or gaps in your tech stack to facilitate your budget planning process.

Here’s how…

  1. Go to buyercaddy.com/sign-up
  2. Click “Sign Up” to create your free account. 
  3. Get started with a quick guided tour.
  4. Build your profile.
  5. Set up groups of peer and competitor companies for comparison. 
  6. Tap “Insights” to see what’s working, redundant, or what’s missing from your tech stack.

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That’s it! In 15 minutes, you’ll have a snapshot of how your tech stack compares to that of your peers and competitors. This comparison will objectively highlight any gaps and potential areas where your company may be falling behind similar businesses. 

Armed with this valuable insight, you can prepare for your annual budget planning in a fully informed manner.  Over the next few weeks, we’ll share more tips and tools to help you prepare for 2024 and beyond.