Survey: Companies Managing Travel, Not Cutting It
May 14, 2009
Rather than cutting travel across the board, companies are managing their travel spend and focusing on travel that generates revenue, according to a new survey of financial executives by American Express and CFO Research Services.
The survey, the second annual American Express/CFO Research Global Business & Spending Monitor, asked 285 senior finance executives at large global companies about their organizations’ response to the economic downturn. While they’re aggressively cutting costs, it found, they’re also investing in areas such as technology, marketing and R&D?as well as strategic business travel?that will generate revenue and improve their operations once economic recovery begins.
“While companies are clearly focused on cutting where they can, they are spending when they should to become more efficient and keep revenue flowing,” Gunther Bright, senior vice president of American Express’ Global Client Group, said in a statement. “They’re also measuring themselves against new metrics that reflect today’s market reality, as well as a post-recession global economy.”