How Businesses Are Spending in the Post‑Pandemic Era
On Thursday, Coupa Software—think of it as the accounting secret‑door to $1.8 trillion in worldwide spend—poured out its latest Business Spend Index. The data pulls from more than 1,300 companies across the globe, giving a clear snapshot of how money is moving.
Tech is Still Shopping, but With a Slight Lift
- Tech spend nudged up +1.4% this quarter.
- Logistics and freight shot up an unbelievable +128.8%. That’s probably because factories are finally firing on all cylinders, catching up on orders that got stuck last month.
Workforce: A Soft Landing for Freelancers
The contingent workforce is making a splash—spending here went up 31% from the last quarter. It looks like companies are favoring flexible talent over hiring full‑time staff (or rehiring folks who were temporarily let go). That’s the modern way of saying, “Let’s keep it lean and adaptable.”
Home Work: The Really Low‑Spending Zone
- Hospitality (hotels, rental cars) plunged 54.4%.
- Office supplies dipped 42%.
- Telecommunications slumped 38.4%.
- Travel‑related spending is nearly dead—down about 98% compared to last year.
In plain terms, people are still binge‑watching shows at home instead of flying out to business conferences. That’s a hefty dent in the social side of corporate life.
What the Numbers Tell Us
Jeff Collins, Coupa’s Chief Economist, summed it up: “We’re seeing modest gains in a few areas, but the overall pulse of spending is still low. The war‑zone of layoffs and furloughs is hitting hard, and the economy’s confidence stays at a dice‑low level. With COVID risk still lurking, there’s no magic reversal on the horizon.”
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