Whether you’re trying to grow or scale your business, your strategy should highlight changing market forces and your plan on how to react to them. Entering new markets and expanding supplier networks comes with new complexities that can be hard to manage if your business is growing faster than your processes.
There are many ways technology can streamline operations to help save time and money as well as giving the support and guidance needed to drive your company forward to success.
And a great place to start is managing your business spend processes.
Protect Data for the Long Haul
Although accelerating through digital transformation has helped companies immensely, it has also brought risks – more specifically the risk from cyber-attacks. It’s important to understand that as your business grows, so does your reputation and with that comes vulnerability to hackers who want to get their hands on your data. It’s imperative to make securing your data a priority when developing any plans for the future.
As the risk from fraud and non-compliance becomes harder to manage as your company grows, it’s important to have proper guidelines and policies in place for employees to follow. By making sure you have the right alerts in place, you can identify any problem areas and immediately mitigate risk – for example, using SAP Concur solutions to prompt reminders to end-users about policies in real-time.
Spend Smarter Sooner Rather Than Later
Understanding where your business is spending and losing money is imperative to solidifying your vision for success. Using an automated spend management solution that integrates your travel and expense spend will enable you to offer more sustainable and cost-effective choices to employees at time of booking right through to the end of their journey.
Use the full suite of SAP Concur solutions for travel, expense and invoicing to give you a single view of where your money is going and why. Strategically cutting costs so you can better organise priorities on company spend. Using an automated solution will save you money on resourcing as well as providing data that tells you where to spend your money more effectively.
Progressively Increase Efficiency
As your business grows, it’s important to keep your employees focussed on the bigger picture. Using automation to perform traditionally manual tasks can save crucial time needed to help your business succeed as it goes through growth. As David Hawes, Finance Director of Devon Air Ambulance explains, “Concur was the natural choice for us. The invoice process is much more streamlined. It‘s much quicker to recover an invoice that we know is on the system and can be viewed immediately, rather than having to chase around the office for a hard copy.”
Advance Your Business Sooner with Confidence
Whether you’re going through a digital transformation or looking to branch out internationally, 95% of companies planning to grow say significant challenges stand in their way. SAP Concur solutions can give you the support to meet your new demands.
When looking to grow your business overseas, supporting a global workforce with different regulations, cultures, restrictions and languages can be challenging. Look for a solution that can be built from the ground up and with the best global practices embedded. That way, you can be assured that compliance won’t be hindered as you grow.
67% of finance leaders aren’t confident their expense, travel and invoice systems will scale with them as they grow. SAP Concur solutions can support your business through growth by unifying your systems into one cohesive platform. This gives you a wider visibility on spend management, and allows you to deploy features across the board to keep your business running efficiently. On top of this, it can be successfully implemented remotely, meaning you don’t have to wait until everyone returns to the office to get started.
Support Your Business Down the Line
93% of finance leaders saying that connecting their expense, travel and invoice processes will be important to achieving their growth objectives. This makes it impossible to ignore the significance of finance automation and integrating HR and accounting processes when planning for the future. Talk to your SAP Concur contact to find out how they can support you through your plans for the future and download our business expansion best practises eBook.