Competition among U.S.-based companies will increase dramatically throughout the coming year, according to results of a survey commissioned by Vancouver-based DiscoverOrg.
The data intelligence company, in announcing the results of its inaugural Purchasing Power Survey, said 71 percent of companies have increased their expense budgets for this fiscal year and, among those companies, increases averaged 41 percent.
Combining those budget increases with data showing that sales departments, on average, hold the largest share of total budgets with 23 percent, the survey indicates that competition among sales teams in 2019 will be fiercer than last year.
The survey measured year-over-year shifts in corporate departmental spending. The DiscoverOrg Purchasing Power Survey was conducted by Wakefield Research between March 7 and March 21 among 500 U.S. chief financial officers. The survey fielded CFOs from companies with more than $1 billion in assets for finance companies and, for all other company types, a requirement of $100 million or more in annual revenue and/or 500 or more employees.
