Adopting Spend Automation to Maximize New Funding
A SAP Concur blog post aimed at companies that have received new funding recommends digitizing and automating spend management—employee expenses, vendor invoices, and travel costs—to maximize the value of that funding. It says automation can improve business intelligence and actionable insights, help make contingency plans, strengthen working capital, improve spend visibility, and find cost-saving opportunities. It cites data showing roughly 20% of expenses fall out of policy and organizations lose an estimated 5% of revenue to fraud each year, and a 2022 Analysys Mason survey showing companies saw positive ROI within 8 months on average after implementing travel and expense and/or vendor i…
Impact and considerations
For companies that have received new funding or are pursuing finance digitization, the post offers a benefits framework and quantified references for spend automation, including compliance rates, fraud losses, and ROI timelines, helping prioritize finance process improvements.
Key points
- Digitizing and automating employee expenses, vendor invoices, and travel costs can give a business a stronger foundation for growth and resilience.
- Automation can improve business intelligence and actionable insights, help make contingency plans, strengthen working capital, improve spend visibility, and find cost-saving opportunities.
- Roughly 20% of expenses fall out of policy, and organizations lose an estimated 5% of revenue to fraud each year.
- A 2022 Analysys Mason survey showed companies saw positive ROI within 8 months on average after implementing travel and expense and/or vendor invoice management solutions.
- The post recommends assessing current spend management processes, using a Controls and Compliance Financial Fitness Scorecard for a quick evaluation.
Sources and time
- Primary source
- SAP Concur
- Other sources
- 0
- First source publication
- 7 Mar 2023, 16:32
- Page published
- 14 Aug 2026, 08:25
- Last updated
- 7 Mar 2023, 16:32
- Original links
- SAP Concur Blog：Adopting Spend Automation to Maximize Your New Funding (opens in a new tab)Primary source · en · Published 7 Mar 2023, 16:32