The Risks of Finance Hacks with Hybrid Working

How we work has changed and is likely to continue shifting. The rapid increase in work-from-home and hybrid employees has further accelerated the speed at which today’s businesses need to embrace digitalization.

In fact, 47% of finance and IT leaders agree the move to remote work highlighted inefficient business processes¹

If your team is still using manual process workarounds or ‘finance hacks’, doing so will only increase risks and decrease spending control. The solution? Empowering your business with connected expense, travel, and invoice management solutions.

With a fully automated spend management system, workflows, approvals, and audits no longer require everyone to be in the same location. When these automated solutions are integrated with your existing ERP and financial business ecosystem, the efficiencies can drive even more benefits — even as spending habits and processes change.

Our SAP Concur users have reported²:

• 43% less time filling out an expense report
• 32% more employees following company T&E policies
• 43% reduction in lost receipts
• 68% less staff time on processing invoices

Curious what your business could gain? Read IDC’s 2022 report on The Business Value of SAP Concur solutions.

Bringing it all together

Digital transformation has become a vital source of competitive advantage throughout the COVID-19 pandemic and will continue to be so. When accelerating your digital transformation, begin by considering:

• Are there any unnecessary steps that can be removed?
• Are there bottlenecks that can be eliminated?
• Are there new expense categories or suppliers you have now that you didn’t have before?
• Are there new policies to be added to fit those new categories and suppliers?

The following resources provide additional tips and insights on connecting your spend processes and data:

2022 Buyer’s Guide: Choosing a Right Travel and Expense Management Solution

4 Ways to Boost Productivity in a Hybrid Work World

Get around your workarounds. Let’s automate that.

Our solution experts and global solution partners can help you uncover even more digitalization opportunities for your business. Getting started is easier than you may think.

We’ll show you how

1 Oxford Economics Think Piece report, Leadership in a new era: How finance and IT leaders are guiding post-pandemic strategy, May 2021

2 2022 IDC Report: The Business Value of SAP Concur Solutions