The Keys to a Successful Enterprise Expansion: Consumer Products Industry fact sheet
To understand how successful companies meet these challenges, SAP Concur and Oxford Economics surveyed 350 finance and IT executives around the world at large firms—those with more than 1,000 employees—that have launched a growth initiative in the past year. We identified a group of respondents—we call them cost-conscious enterprises—that say that spending and cash management were important factors in their business growth.
In this fact sheet we focus on responses from Consumer Products businesses, comparing them to that select group of cost-conscious companies, as well as global totals.
Unfortunately, while 83% of consumer products respondents said that spending and cash flow were important factors in their expansion strategies, they proved less successful than other industries overall at controlling growth initiative budgets.
To maximize enterprise expansion success, we recommend that consumer products companies:
- Emphasize cash flow early and maintain a cost-conscious approach
- Facilitate internal collaboration with better data sharing and communication technologies
- Ensure spend visibility and efficiency, making spend data easily accessible across operations
- Automate spend management processes to free employees from rote finance tasks
Download the fact sheet to learn more.
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