Getting the Most for Every Dollar - A report prepared in collaboration with American Express

Sponsored By CFO Research Services

Topics:

Finance & Risk Management > Expense Management

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Abstract:

In our sixth annual report on indirect expense management at mid-size U.S. companies, CFO Research Services explores senior finance executives' views on spending data, vendor relationships, corporate card programs, and other topics. Our survey of 402 senior finance executives shows that although survey respondents report that their companies receive a variety of price and service benefits through preferred vendor relationships, they also agree that there is room for improvement in their companies' use of data to identify spending consolidation opportunities—an important prerequisite to building the spending volume that provides leverage in vendor negotiations. In a series of case studies based on interviews with a dozen senior finance executives, this study documents expense management practices that have worked well for companies pursuing greater savings on indirect spending, from building vendor relationships and negotiating for discounts to enforcing spending guidelines.

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