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Expense Management: Driving Savings Through Better Information and Spending Policies

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Finance & Risk Management > Expense Management

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In September 2004, CFO Research Services (a unit of CFO Publishing Corp.) launched a research program to explore how mid-size U.S. companies drive savings through indirect expense management. This program built on research findings from studies on indirect expense management that we conducted in 2002 and 2003. Our findings in these studies suggested that mid-size companies have a significant opportunity to drive savings by improving their management of information and spending policies. Through a survey and an interview program, we sought to explore this opportunity by studying how companies get information about their spending, the ways they use this information to produce cost savings, and their level of satisfaction with their information. An important part of our inquiry was to explore the ways that setting and enforcing spending policies drive savings by improving the quality and integrity of spending information.