Digging Into Essentials of Automated Expense Management

Key points

• Nearly half of finance leaders worldwide say fraud and risk management are their biggest risk and compliance challenges.
• 44% of finance leaders cannot make informed decisions involving cash flow, budgeting, and forecasting due to lack of timely financial information.
• Manual expense management leads to missing receipts, time-consuming reports, non-compliant purchases, and unclaimed VAT.
• Automated expense management solutions can mitigate fraud and noncompliance risks and improve productivity and profitability.
• The study estimates a T&E solution saves 13 hours weekly for each finance or accounting team member.
• One customer reports spending 65% less time processing expense reports.
• 72% of businesses believe digital transformation is key to their growth.