A recent survey by Forrester Consulting, commissioned by American Express, polled 216 decision-makers in North America, Europe, and the Asia Pacific region who have responsibility for expense management. Although other recent surveys have shown cost control as middle-of-the-pack and falling in importance when treasury and finance managers are asked to rate a list of concerns, the Forrester survey found that three-quarters of companies are operating under a management mandate to cut expenses this year.

Forrester divided the respondents into two categories based on company size. It defined midmarket firms as those with 100 to 999 employees and large enterprises as businesses with 1,000 or more employees. Among respondents from large enterprises, 76 percent said their company is under a management mandate to cut expenses, and the average size of those cuts is 18 percent. Among midsize businesses, 72 percent of respondents said they have a management mandate to cut expenses, and by an average of 24 percent. (See Figure 1.)

Figure 1, with sourceline updated

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.