Level Up Spend Management for Transparency and Accountability in Energy and Utilities
SAP Concur article discusses how energy and utilities organizations can improve transparency and accountability through digital spend management. The pandemic accelerated digitization, but temporary fixes need evaluation. Spend management platforms provide real-time visibility, budget control, and improved employee experience. Data shows T&E violation rates skyrocketed 292% from 2019 to 2020, and fraud is a serious issue. Integrated platforms save costs and improve compliance.
Impact and considerations
The energy and utilities sector faces high fraud risk; digital spend management reduces risk and improves efficiency.
Key points
- Post-pandemic, evaluate the effectiveness of digital spend management.
- Spend management platforms provide real-time visibility and budget control.
- T&E violation rates rose 292% from 2019 to 2020.
- Integrated platforms save costs and improve compliance.
- Finance and IT collaboration is crucial for successful implementation.
Sources and time
- Primary source
- SAP Concur
- Other sources
- 0
- First source publication
- 10 Aug 2022, 17:32
- Page published
- 14 Aug 2026, 08:31
- Last updated
- 10 Aug 2022, 17:32
- Original links
- SAP Concur Blog：Level Up Spend Management to Provide Transparency and Accountability in Energy and Utilities (opens in a new tab)Primary source · en · Published 10 Aug 2022, 17:32