A Vanson Bourne study shows 96% of finance leaders believe their team will become more important in driving growth strategy. Finance and IT leaders must collaborate, using integrated spend management solutions to automate manual tasks and control discretionary spending, freeing finance staff to focus on growth. AMI-Partners notes 64% of businesses consider reducing operating expenses a strategic goal.
A SAP Concur blog post discusses how finance and IT leaders can drive business transformation through collaboration. It emphasizes that in rapidly changing markets, finance and IT need to break down organizational silos and leverage technologies like smart automation, AI, machine learning, and advanced analytics to achieve spend management, expense compliance, and cost control. Cloud-based and mobile-ready solutions ensure business continuity and improve employee satisfaction. The article also notes that real-time spend visibility enables companies to optimize supplier contracts and forecast months in advance.