5 Ways Efficient Audits Can Help Fuel Growth for Digital Transformation

As your business continues to adopt strategies to build resiliency, gain momentum, and stay ahead of the competition, your organization needs to find every way it can to move faster and achieve greater results. While this velocity can help enterprises win the battle for customers and sales, it may end up costing your organization greatly in spend inefficiency, fraud and missed opportunities.

By auditing your spend, you can discover and remediate issues before they can do significant damage to your bottom line or lead to non-compliance. Technology is key to assisting with this work.

94% of executives agree that advanced technologies can promote the quality of their audits.

In this ebook, we suggest 5 ways you can assess your current audit efficiency and reduce exceptions over time.

  1. Understand the cost to audit - analyzing expense reports to achieve 100% business compliance might be more costly than expected. 
  2. Identify your top opportunities for improvement - examine expense types and the employee experience with company policies.
  3. Reduce the number of exceptions over time- process automation can help bring more visibility to your audit report. 
  4. Improve your first pass ratio - audit costs can be reduced along the way. 
  5. Encourage audit-friendly spend channels - more spend control can increase audit efficiency.

Because auditing expense reports in-house can be time-consuming and labor-intensive, you may not conduct audits as often as you should. Audit Services from SAP Concur solutions provide human expertise backed by intelligent technology to help you actively manage expenses and business compliance as spending happens. Smarter spending and more opportunities for expansion and optimization are only a few of benefits of the service that can help build your business momentum.

Download the ebook to learn how Audit Services from SAP Concur solutions can help you increase controls and compliance while improving employee experience.