SAP Concur blog notes that state and local government finance departments face pressure from reduced funding, increased service demand, and fewer staff. It recommends automating, integrating, and digitizing AP processes to address remote work challenges and improve financial discipline.
A SAP Concur blog cites a Wakefield survey of 500 state and local government finance and administrative departments. 67% of staff took on three or more new responsibilities; 88% cited accessing information and tools as the top remote-work challenge; 89% lack a fully automated platform to track travel and/or expenses; and predicted average budget shortfalls for the upcoming fiscal year are 24%. 75% said the pandemic accelerated their decision to invest in cloud-based budget management solutions.
SAP Concur blog highlights that county finance departments face declining funding and rising service demand. Brookings Institute projects state and local income tax revenues to decline by 4.7% to 7.7% from 2020 to 2022, a loss of $22 billion to $40 billion. The article recommends cloud-based invoice management, automated expense reimbursement, and integrated card feeds to improve efficiency, potentially reducing invoice processing time by 75%, paying vendors 13% faster, and increasing AP staff efficiency by 45%.