Source Name: American Express
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Indian CFOs Plan to Increase Spend to Support Topline Growth in 2019, According to an American Express Global Survey90% of Indian CFOs believe that improving cash and working-capital management will be more important this year as compared to last |
New Delhi, Delhi, India Senior finance executives remain optimistic about the economy, the outlook for their companies and their investments for the future, according to the 2019 Global Business & Spending Outlook, a survey released by American Express and Institutional Investor Thought Leadership Studio. *
This optimism can be seen in their spending outlook:
“Indian firms are gearing up to efficiently manage their spending and investment this year with a keen eye on the future,” said Manoj Adlakha, CEO - American Express India. “While they balance spending to drive top-line growth with profitability, they’re pressing ahead with plans to take advantage of demographic and economic changes to stay relevant and competitive in the next 5-10 years."
Indian companies continue to grow; 87% of companies surveyed in India report higher or much higher revenue in the last 12 months, as compared to 43% last year. This number is notably higher than the worldwide (65%) and Asia average (63%) for this year.
Top priorities of Indian CFOs as they seek to “Future-Proof” their businesses
Outlook on the external environment remains positive
“I feel CFOs today play a critical role in the long-term strategic planning and health of the company. In fact, one of the findings in the survey is that 73% of Indian CFOs collaborate most closely with the board of directors. This is testimony to the increasingly important and strategic role CFOs play, as they navigate organizational spending in line with economic drivers and influences,” said Manoj Adlakha, CEO - American Express India.
Methodology The 2019 Global Business & Spending Outlook was conducted by Institutional Investor Thought Leadership Studio (IITLS) and is based on a survey of 901 senior finance executives from companies around the world with annual revenues of $500 million or more. In total, 180 CFOs and other senior finance executives from Asia and 30 from companies in India participated in the study. All survey responses were gathered in late November and December 2018. IITLS estimates the margin of error for the survey to be approximately +/-3.2% at a 95% level of confidence.
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*American Express offers a diverse suite of products exclusively designed for businesses to meet their spending and financing needs. Our integrated platform delivers powerful data and insights, pricing flexibility, direct supplier relationships, higher spend capacity and an economic advantage. American Express offers powerful backing and support that help companies of all sizes gain financial savings, control, and efficiency.
To view Inforaphics-CFO Survey 2019, click here. |