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Through this special industry study conducted in the fall of 2008, American Express collaborated with Accenture to examine how large, global companies are leveraging leading expense management practices to strategically manage costs in today’s challenging economy. Insights presented in this study are based on in-depth interviews with senior level expense management professionals at seven of American Express' top Commercial Card clients.
The industry study finds that leading companies* are taking a measured approach to cost cutting and expense management. These companies are developing operating advantages in the short-term through cultural shifts and data analysis, and building structural advantages for sustainable growth in the long-term.
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The research revealed that leading companies are focusing on three core strategies to improve expense management:
- Hold Employees Accountable
- Drive Value through Data Analysis
- Plan for the Long-Term
Download the Accenture Industry Study: Expense Management Strategies for an Economic Downturn
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"Today’s economic crisis is putting great pressure on companies to reduce costs and control spending wherever they can. By gathering best practices from some of the best expense management programs in the world, we can share a number of concrete, straightforward steps that virtually any company can take to reduce costs and implement a program that will deliver savings and value well into the future."
Gunther Bright
Senior Vice President, Global Client Group
American Express
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