SAP Concur: Get Smart About Managing Company Spend and Watch Your Business Grow
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The survey data provides SMB finance leaders with quantified links between cost-conscious spend management and fewer post-expansion operational issues, useful for justifying investment in automated spend management processes during growth.
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- SAP Concur BlogSAP Concur: Get Smart About Managing Company Spend and Watch Your Business Grow
A SAP Concur blog post discusses the benefits of a cost-conscious spend management strategy for SMBs during growth. Citing an Oxford Economics survey of 500 decision makers at expanding companies, including 150 classified as 'cost-conscious' SMBs, it reports cost-conscious SMBs are more likely to spend time on cash flow and spending management (74% vs 45%), expense report processing (67% vs 55%), growth strategy alignment (70% vs 38%), FP&A (71% vs 55%), IT collaboration (70% vs 38%), and payroll (57% vs 41%). After expansion, cost-conscious SMBs report fewer administrative issues such as invoice reconciliation (10% vs 59%), onboarding and training (11% vs 48%), digital and cybersecurity ma…