For the sixth consecutive year, American Express has teamed up with CFO Research Services to identify how finance executives manage spending programs to yield sustained business results. This year's research, Getting the Most for Every Dollar, is a guide for CFOs interested in gaining insight on how other Middle Market companies can strike the appropriate balance in achieving price, service and quality to manage indirect expenses.
Below are several key findings from the research study:
- 76% of the companies identify room for improvement in their companies' use of spending data for a wide variety of management purposes, but most often say there is room for improvement in their use of data to identify opportunities to consolidate spending.
- 62% of companies say that convenience and ease of buying is a top benefit of their companies' corporate card programs. Additional benefits cited include the availability of spending data (46%) and savings from improved control over employee spending (40%).
- A majority of companies report receiving better customer service, more favorable payment terms, greater control over employee spending, and improved information on spending activity from their preferred vendors.
Download and read the full 2008 CFO Research Report: Getting the Most for Every Dollar.
You may also download a copy of last year's report: 2007 CFO Research Report: Focus Spending, Increase Productivity.
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