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 as 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.
Also, 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. 
A massive 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.”