Aberdeen Research: Digital Spend Management Aids Financial Decisions
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The research provides quantitative evidence linking digital spend management to corporate financial performance, suggesting that companies investing in spend management digitalization are more likely to achieve improvements in profitability and operational efficiency amid economic uncertainty.
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- SAP Concur BlogAberdeen Research: Digital Spend Management Aids Financial Decisions
SAP commissioned Aberdeen Research to survey roughly 600 finance, IT, and procurement specialists from companies worldwide to assess the impact of digital spend management on financial decisions. The survey found that 3% of respondents' companies will most likely close in 2021, 29% are still in survival mode, 37% are planning for continued recovery, 23% hope for revenue growth, and just 7% are planning for growth. Nearly 75% of best-in-class companies have already adopted digital spend management technology, and their spend data is available when needed 80% of the time. Compared with peers, best-in-class companies reported 26.1% improvement in profitability, 24.3% improvement in productivit…