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For the sixth consecutive year, American Express collaborated with CFO Research services to identify how finance executives manage spending programs to yield sustained business results. This year's research, Getting the Most for Every Dollar, is a guide for CFOs interested in gaining insight on how other Middle Market companies can strike the appropriate balance in achieving price, service and quality to manage indirect expenses.
Below are several key findings from the research study:
- 76% of the companies identify room for improvement in their companies' use of spending data for a wide variety of management purposes, but most often say there is room for improvement in their use of data to identify opportunities to consolidate spending.
- 62% of companies say that convenience and ease of buying is a top benefit of their companies' corporate card programs. Additional benefits cited include the availability of spending data (46%) and savings from improved control over employee spending (40%).
- A majority of companies report receiving better customer service, more favorable payment terms, greater control over employee spending, and improved information on spending activity from their preferred vendors.
Please note: American Express will use the information collected for the explicit purpose of providing you more information on American Express® Commercial Card products. You may receive a follow up call from an American Express representative to discuss these products or services.
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