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Firms count cost of poor expense management.

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Vincent
PositionNews Round-Up - Brief Article

Many medium-sized businesses are not getting as much value as they could out of the expense management systems they have in place, according to a new study.

The research, commissioned by American Express, has found that companies are missing a trick when it comes to boosting their profits because they are focusing on revenue generation, not on indirect cost control.

Nearly 65 per cent of the firms surveyed said controlling indirect costs was a high priority and 90 per cent stated that they had a range of expense management policies in place. But only 4 per cent said they were very satisfied with the way in which their indirect expenses were managed.

Karen Penney, UK head of corporate card at Amex, said that a 5 per cent reduction in indirect costs put more on the bottom...

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