The Very Human Side of T&E Transformation

The Very Human Side of T&E Transformation

Digitization is forcing industries to innovate. In a survey by graduates from 30 leading international business schools, the rapid rate of technological and digital advancements was cited as the greatest challenge for global business leaders.

Travel and expense management is no exception. Yet despite the clear ROI and value-adds that automating this key operating cost brings, accounting teams and CFOs can be hesitant to move forward with change. Part of the reason is a fear of disruption to current processes, and a fear of failure.

There is good reason to be cautious. According to research by McKinsey, 70% of change programs fail. And when it comes to SaaS software, few processes touch more people across the organization than the T&E process.

In a new white paper by CFO Publishing, Embracing Change: Building a Culture for Successful T&E Automation, leading experts offer their advice on how to roll out a change program that will truly work in your organization. Experts such as Brian Kalish, Principal of Kalish Consulting, share insights such as how the change process begins with coaching your finance team to be ready to cast-off old habits.

“While it may be tempting to do a ‘lift and shift’ to bring automation to the same process that people are familiar with [and will be less likely to resist],” he says, “you lose 95% of the value of automating if you don’t explore changes to the underlying process.”

The white paper outlines key steps in this path to transformation, such as mapping out your processes with a diverse internal focus group that includes more than finance. Engaging various departments, such as IT, legal, tax, HR and a cross-section of frequent travelers, creates a foundation for holistic change. Once a software vendor is chosen, a roll-out should be planned and success metrics tracked.

With a plan in place, you may just find—as so many of our customers do—that change is the best thing that could have ever happened to your T&E process. Or in the words of the Association of International Certified Professional Accounts, “sometimes we’ve got to stop standing still, to find stability.”

Get your copy of the white paper here.