5 Reasons Businesses Don’t Automate Their Expenses ...and why they should: When it comes to expenses, 41% of organisations are still using a paper-based process, and only 26% use any form of automation. The benefits of expense automation: Wouldn’t it be great if everyone could spend less time doing their expenses and more time making money? A greater range of software tools are available to help businesses improve productivity and do more with less, than ever before. A look at the numbers With 8% to 10% of an average company’s budget dedicated to expenses1, it makes good business sense to manage this cost efficiently. So why aren’t they automating? Here are the top five concerns, and some explanations of why automation is still the answer: TipTip 1. If it’s not broken, don’t fix it. If your systems are working, you might not be inclined to change them. However, the current craving for new technology and speed of adoption suggests that people are embracing technology more rapidly than ever before. Tip 2. It’s too expensive. There is a perception that the adoption of software requires up-front set-up fees and involves long-term financial commitments. In turn, this leads businesses to think that the costs outweigh the benefits of implementing automated expense management solutions. Tip 3. Implementation is time-consuming and resource-intensive. It’s natural to believe that implementing a new software solution will require significant investment in both time and resources. However, there are expense automation solutions that incorporate best-practice expense policies, rules, and templates. Tip 4. It’s not a priority for the business. Bearing these figures in mind, taking charge of the cost of expenses could, and should, be a priority – even for the busy senior executive. It also makes good business sense to reduce costs when one considers that every pound saved in expenses goes directly to improve the bottom line. Tip 5. It won’t help us control our expenses. You can’t manage what you can’t control.
Posted on: Sun, 21 Jul 2013 11:27:17 +0000
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