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Indian CFOs Plan to Increase Spend to Support Topline Growth in 2019 According to an American Express Global Survey

Covai Post Network


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:

  • 83% CFOs are looking at moderate to aggressive increase in spending and investment this year to support topline growth

  • 33% CFOs expect their company's spending and investment worldwide to change by 10% or more this year

  • 90% of Indian CFOs believe that improving cash and working-capital management will be more important this year as compared to last

  • 67% Indian CFOs expect improved use of credit to yield a substantial financial benefit

  • 57% of Indian CFOs are likely to increase their investments in improving administrative process efficiency this year. The focus on efficiently managing bottom-line spending is evident in the increase from 40% voting this as an investment priority last year

  • 96% of CFOs plan to spend more or the same amount this year on financial reporting and compliance services

  • Travel and entertainment (T&E) continues to be a sizeable part of companies’ spending, with 77% Indian finance executives planning to increase their spend or invest the same amount on T&E this year

  • Compared to five years ago, 57% of Indian CFOs find the information received on T&E spending more informative and transparent


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

  • CFOs in India and worldwide continue to prioritise the business goal of ‘better meeting customer needs’, with 57% of Indian CFOs voting it as among their top business priorities

  • Improving financial returns to owners or shareholders’ is equally important for Indian CFOs, with 57% voting it as among their most important business goal with a significant increase from 27% last year

  • Remaining competitive with other companies’ (43%) and ‘pursuing business transformation and innovation’ (40%) and ‘entering new markets’ (27%) are the other important priorities on their radar


Outlook on the external environment remains positive

  • In terms of their confidence in the nation’s economy, 80% of Indian respondents expect a substantial or modest economic expansion in the year ahead, substantially higher than their global peers at 71%

  • Economic expansion expectations remain highest in the Asia/Australia region (79%, down from 94% last year) and lowest in Latin America (43%, down from 52% last year)

  • Indian CFOs continue having a positive outlook towards global trade policy, with 63% of Indian CFOs expecting global trade policy to strengthen their company's growth prospects


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.



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.


About American Express Global Commercial Services

Through our Global Commercial Services division, American Express offers powerful backing and support that help companies of all sizes gain financial savings, control, and efficiency. We provide a suite of payment and lending products, solutions for travel and everyday business spending, cross-border payments, global currency solutions, and business financing.


To learn more about Global Commercial Services, please visit business.americanexpress.com.


About American Express

American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success.


Learn more at americanexpress.com and connect with us on

facebook.com/americanexpress, instagram.com/americanexpress,

linkedin.com/company/american-express, twitter.com/americanexpress, and


About Institutional Investor

For more than 50 years, Institutional Investor has consistently distinguished itself as the world’s foremost financial publication and convener of global institutional investors. By leveraging Institutional Investor, exclusive memberships, forums, industry benchmarks, award-winning content, and workflow solutions such as capital placement, Institutional Investor is the essential hub for the world’s financial decision-makers. www.institutionalinvestor.com.


*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.

Source: Newsvior

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