Automated Expense Management Drives Business Growth
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For finance leaders, automated expense management not only reduces risk and cost but also frees up human resources for strategic work, making it key to enhancing financial agility and competitiveness.
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- SAP Concur BlogSAP Concur Highlights Automated Expense Management as Key to Business Growth
SAP Concur published an article noting that nearly half of finance leaders worldwide know of a company in their professional network that experienced spend management fraud in the past three years. The article highlights the costs of manual expense management, including missing receipts, time-consuming reports, out-of-policy purchases, unclaimed VAT and fraud risks. Automated expense management can reduce risks and improve productivity, citing a study estimating a T&E solution saves 13 hours weekly per finance or accounting team member.