How are you leveraging spend automation to support business recovery and resilience?
In a recent Concur Customer Survey (September 2020), 92% of respondents said it was Important to Very Important that they had spend management solutions in place during the pandemic. For many of those businesses, however, the benefits of automation were limited to merely their expense management processes. In fact, aside from Adjusting to a Remote Workforce, and Cutting Costs, the top third challenge our customers cited was dealing with paper-based, manual AP processes. This illustrates how important it is for Canadian businesses to have AP automation as part of a fully connected spend management ecosystem.
“We implemented Concur Invoice during the lock down phase. This reduced the work around manual processes at the time of moving to a fully remote working environment. Very beneficial to both the Finance team and all of our business units.”
SAP Concur customer, September 2020
Consider also the top three priorities Canadian businesses said were important for business recovery and resilience:
- Controlling Costs
- Updating policies to accommodate work-from-home employees
- Improving data accuracy and tracking of spend
These three priorities show that spend management automation solutions can provide a critical edge to finance teams as they work to adapt to the ‘new normal’ caused by the global pandemic.
It also highlights the fact that adding AP automation to your expense solution will not only further strengthen your cash flow and reduce risks, but also helps increase your company’s overall resilience when unexpected challenges arise.
Curious what AP automation could do for your business? Take our self-guided online demo of Concur Invoice today.