SAP Concur blog cites an Oxford Economics survey showing 81% of leaders would benefit from focusing more on efficiency and cost control. It recommends emphasizing cash flow, facilitating internal collaboration, focusing on cost visibility, and automating spend management to handle expansion costs like headcount, facilities, systems, and foreign tax compliance.
A SAP Concur blog post argues that HR and finance leaders who collaborate can improve data visibility, simplify workflows, and stay flexible. It cites Oxford Economics that nearly a quarter of finance leaders cite lack of visibility into company spending as their biggest challenge, and McKinsey research that 50% of manual work can be automated. EY research shows 41% of collaborating finance and HR leaders experienced 10% EBITDA growth.
A SAP Concur blog post cites an Oxford Economics survey in which 81% of leaders say they would benefit from concentrating more on efficiency and cost control. The post offers four recommendations: emphasize cash flow early, facilitate internal collaboration, focus on cost visibility and efficiency, and consider automating spend management. The study notes that a clear view of costs can limit waste and redundancy, free up executives and employees, and improve flexibility and resource allocation.
The article emphasizes the importance of collaboration between finance and travel teams, using integrated tools to improve spend visibility, ensure compliance, fulfill duty of care, and enhance employee experience. Automation reduces manual work and improves data accuracy.