Inflation remains the key challenge for corporate Australia in 2023, but businesses that can adjust and adapt amid shifting conditions will preserve margins and ultimately profitability.
The key trends businesses will need to address this year are largely digital; artificial intelligence, robotics, machine learning and digital currencies, just to name a few.
How this tech is applied in a safe and secure manor will be paramount, amid rising challenges from cyber threats including phishing, ransomware and deepfakes, among others.
All of this will take place as businesses balance flexible working arrangements with strategic progress, productivity and culture, all of which will require strong leadership throughout 2023.
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Figuring out the right level of stock to hold will continue to be a key issue for corporates in 2023.
There are trade-offs between holding inventory for a just-in-case model (mitigating against supply chain disruption, which comes at a cost) and a just-in-time model. Finding the right balance is the key, and what is right for one business will be different for another.
And finally, volatility will feature prominently on markets in 2023. The best companies around the world are continuously reviewing and updating their risk management strategies to mitigate against emerging risks.
Overall, the year is an exciting one, and the activity we are seeing at ANZ suggests our customers are confident and continuing to invest.
The economic and geopolitical factors that have shaped an unprecedented period for business around the world are not going anywhere soon.
With 2023 upon us, large organisations face a cocktail of influences impacting the way they do business: rapid digitisation, shifting supply chains, geopolitical uncertainty, and the ongoing impacts of the COVID-19 pandemic.
At ANZ Institutional, we know our customers are looking to position themselves to take advantage of these forces.
As part of our Outlook 2023 series, we’re asking our subject-matter experts to provide insights into a range of complex areas from across more than 30 markets – helping you better understand how you can prepare for the New Year. We’ll be sharing the responses with you over the coming weeks.
Simone Tilley is GM, Corporate Bank at ANZ institutional
