Why being bold and taking the offense is the key to managing costs
When cost pressure hits from any front, it’s tempting to take a defensive approach: Cut your way to growth by slowing down, or even cancelling, ambitious projects and investments.
However, Gartner research shows that the best companies proactively take a strategic approach to cost optimization. As a result, while many of their peers stall, these companies actually grow when faced with cost headwinds.
Successful companies put a cost optimization plan in place
- 60 companies classified as “Efficient Growth” optimized costs strategically
- Following a recession, they posted 13% EBITDA growth rate compared to all others, who posted -1%, setting them up for long-term growth