As the economy stalls, and buying behaviour and priorities change, business leaders are looking to conserve costs. With many companies instituting remote work, it’s more important than ever to gain visibility and control to proactively manage employee spend. This is particularly important for small and medium-sized businesses that are operating on tighter margins.
Without access to the office for supplier invoices and employee expense reports to be processed, some organisations may struggle to get a clear picture of where money is being spent and, more importantly, where it could be saved.
We have identified four ways to manage spend when working remotely:
Businesses must determine what their employees need for success, and pinpoint solutions that will streamline their work, opening up more time to check in on customers and foster positive relationships. This can include mobile solutions that simplify administrative tasks with the touch of a button or API integrations that connect data across an organisation so it’s accessible in one place.
During times of rapid change, businesses must find the balance between managing immediate issues and maintaining long-term organisational goals. In this economic downturn, businesses can use low-cost cloud-based solutions to save resource costs, increase process efficiencies, drive innovation and protect the bottom line.
Fabian Calle, General Manager – SMB, SAP Concur ANZ