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Despite the economic upturn, more than half the companies in the Asia-Pacific region are still in the belt-tightening mode, local media reported on Wednesday. In addition, 68 per cent of the firms polled said their cost management measures have permanently changed the way their organisations do business.
A survey across 210 organisations by consulting firm Accenture showed that 58 per cent of Asian firms will continue to manage cost “aggressively” this year, local TV broadcaster Channel NewsAsia reported.
The global financial crisis has hurt businesses in the Asia Pacific, the survey showed that pushing them to focus on cost management and reaping cost savings of between 11 and 30 per cent last year. The poll said the businesses can expect cost savings of up to 20 percent in 2010.
The poll also found that pressure from shareholders to deliver higher returns is also driving structural reforms within the companies. Businesses will also have to eliminate redundant processes and channel resources to higher value activities. The survey was conducted between January and February this year. The poll covered firms in Australia, China, India and Southeast Asia. — Xinhua
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