Wednesday, August 27, 2008
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"Benchmarking"
CFO research brings a little sunshine
Wide-ranging research involving top finance figures from around the world has painted a surprising picture of the health of the global economy.
According to a study by American Express, over two thirds (68%) of respondents said they believed that the industries in which they work will grow over the next 12 months – findings that fly in the face of the apparently gloomy picture painted elsewhere.
The American Express/CFO Research Global Business & Spending Monitor, which involved senior financial figures from the U.S., Canada, Asia/Australia, Mexico and across Europe, also revealed that seven out of ten respondents were optimistic about the future.
The study, which found that European business leaders have a more optimistic outlook than their US counterparts, found that CFO’s believed they should have invested more heavily in production efficiencies, administrative process efficiencies, and market reach in the previous downturn.
Brendan Walsh, Senior Vice President for American Express commercial card in Europe comments: “It is very encouraging to see that the short term economic downturn has not affected long term investment plans and that European companies are looking for ways to better manage and control their expenditures.
“At the same time they are pursuing investments that will allow them to reach more customers in new and better ways. Business leaders clearly have a new set of priorities, based on previous learnings which helps to preserve the bottom line while promoting top-line growth.”
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