CFOs plan to raise investment to support topline growth in 2019: Survey

Senior finance executives are optimistic about the economy, higher investments and outlook for their companies in the near future, according to a survey.

About 83 per cent CFOs are looking at moderate to aggressive increase in spending and investment this year to support topline growth, the 2019 Global Business & Spending Outlook, a survey released by American Express, said.

It further said 90 per cent of Indian CFOs believe that improving cash and working-capital management will be more important this year as compared to the last year, and 67 per cent of them expect improved use of credit to yield a substantial financial benefit.

The survey included 180 CFOs and other senior finance executives from Asia and 30 from companies with annual revenues of USD 500 million in India.

As many as 87 per cent of the companies surveyed in India report higher or much higher revenue in the last 12 months, as compared to 43 per cent last year.

This number is notably higher than the worldwide (65 per cent) and Asia average (63 per cent) for this year, it said.

In terms of their confidence in the country's economy, 80 per cent of Indian respondents expect a substantial or modest economic expansion in the year ahead, substantially higher than their global peers at 71 per cent, it added.

Indian CFOs continue having a positive outlook towards global trade policy, with 63 per cent of them expecting global trade policy to strengthen their company's growth prospects, it added.