About 83% of CFOs are looking at moderate to aggressive increase in spending and investment this year to support topline growth and 33% CFOs expect their company’s spending and investment worldwide to change by 10% or more this year.
The most important business goal of over half of Indian chief financial officers (CFOs) is to improve the financial returns of shareholders. They want to prioritise the business goal of better meeting customer needs and increase investment in improving administrative process efficiency. These are some of the key findings from the 2019 Global Business and Spending Outlook, a survey done by American Express and Institutional Investor Thought Leadership Studio.
About 83% of CFOs are looking at moderate to aggressive increase in spending and investment this year to support topline growth and 33% CFOs expect their company’s spending and investment worldwide to change by 10% or more this year. The survey finds out that 90% of Indian CEOs are likely to increase their investments in improving administrative process efficiency. The focus of efficiently managing bottom-line spending is evident from the 40% increase in voting this year as compared with last year.
Manoj Adlakha, CEO, American Express India, says Indian firms are gearing up to efficiently manage their spending and investment this year with a keen eye on the future. “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,” he says.
The survey shows that 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. Indian companies continue to grow as 87% of firms surveyed in India report higher revenue in the last 12 months, as compared to 43% last year. This number is higher than the worldwide (65%) and Asia average (63%) for this year. About 63% of Indian CFOs expect global trade policy to strengthen their company’s growth prospects.
The survey was conducted amongst 901 senior finance executives from companies around the 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.