It’s that time of the year…
Towards building 2022 budget we set out to explore some benchmarks regarding both the process of building a budget and financial assumptions.
45 CFOs of tech companies from different verticals and sizes participated in this survey (see sample in the report).
Here are the main takeaways:
• Most companies expect to approve budget by January 2022 the latest.• Average time for approval – 2.4 months.
• For 70% of companies, the board is active in reviewing the budget before approval.
• Larger companies are more likely to prepare more than one budget.
• Over 50% of companies that raised under $100M assume meaningful fundraising in 2022.
• 74% of the companies met their budget goals, 39% exceeded it.
• 62% of small companies overshoot their expenses.
You’ll also find:
• Benchmarks for top line growth in 2022 budget by ARR stage.
• Benchmarks for HC growth in 2022 budget by ARR stage.
• Benchmarks for gross margin improvement in 2022 budget.
• Benchmarks for sales productivity – quota attainment.
• Net dollar retention & gross retention.
To download the full report – click here