Worldwide spending on telecommunications and pay TV services will be nearly $1.6 trillion in 2022, representing a year-over-year increase of 1.9%, according to the International Data Corporation (IDC) Worldwide Semiannual Telecom Services Tracker.

A survey of 111 CFOs in July 2021 revealed that 60% of organizations experienced wage inflation in 2Q21, nearly double the amount compared to the previous quarter, according to Gartner, Inc. Nearly three in four CFOs polled cited the risk of lower profitability as their top concern as organizations face broad-based input price inflation increases.