Small Business Owners: Get Your Company Recovery-Ready
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Small businesses face challenges in cash flow management and spend control during economic recovery. Establishing clear expense policies and automated spend management processes can help small businesses improve financial visibility, reduce fraud risks, and prepare for growth.
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- SAP Concur BlogSmall Business Owners: Get Your Company Recovery-Ready
A SAP Concur blog post offers recovery preparation advice for small business owners, including setting up expense policies, optimizing AP processes, smart tracking and monitoring of spending, and using technology to increase efficiency. Citing U.S. Small Business Administration data, small businesses generate 44% of economic activity. The article also notes that companies adopting cloud-based technology to automate expense management increased process efficiency by 42%.