Simplifying the Move to Automation

Simplifying the Move to Automation

Adaptability is no longer a competitive advantage—it’s an absolute necessity. According to an analysis by Bain & Company, companies that invest in technology during or immediately following economic downturns can emerge stronger. The challenge is figuring out which process will create the most significant organizational impact.

Technology is one powerful lever to increase adaptability. The right software helps to break down silos across complex, multi-entity organizations. They simultaneously improve control and efficiency for finance. With a deeply embedded process like expense or invoice management, the benefits are almost immediate.

There’s also an unexpected employee benefit with automation: the freedom for employees to focus on strategic work. Work that requires a human mind.

Yet, data from Certify’s 2019 Travel and Expense Management report highlights the disconnect. Nearly half (43%) of organizations surveyed process expenses manually. With “the next new normal” right around the corner, technology immaturity is a greater risk than any external threat. Maybe it’s time for your current process to grow up.

Add automation in six simple steps
Wondering where to even start with a move towards technological maturity? You’re not alone. Here is a summary of the process you could follow, as outlined in our 6 Simple Steps: An Actionable Guide to Selecting a Dedicated Expense Solution eBook.

A thorough review of your manual expense management procedures uncovers its true cost. Identify which areas could be improved to increase efficiency and lower the impact on the organization’s finances.

Your organizational structure and users are unique. Therefore, tailoring a solution to meet the individual needs of every user group—from submitters to the CFO—is essential. Doing so identifies what is required for successful digital transformation.

Making sense of all the possible software options can be overwhelming. It takes some work, but compare, compare, compare. Your required features list will aid in selecting the ones that could benefit your process and people.

The time has come to convince your CFO that a dedicated expense management solution is a worthy investment. Base your business case on common saving sources as found in manual tasks, office supplies, compliance, and more.

The project is signed for and now it’s time for them to deliver. Customer-centric vendors will proactively organize the implementation plan with your team. If not, connect with your assigned contact to formulate the entirety of the process.

You should begin to see the benefits almost immediately. Best-in-class automated solutions provide your finance team with instant access to spend analytics. The data will help finance teams be more strategic and help the CFO identify new opportunities.

For more details about any of these steps, download a copy of the guide. We packed it full of helpful information and client examples to simplify the process of evaluating and implementing automated expense management.

Adaptability brings stability
Global industry will continue to evolve. What’s essential now, and far into the future, is having systems that allow teams to pivot as dynamics and market conditions change. Digital readiness will make or break many organizations.

Digital transformations can be overwhelming. Following the steps above will make the process a logical, strategic journey from which everyone can benefit.

If you’d like help with building a case for automation that will get your CFO’s attention, contact our friendly team to help you get the support you need.