Legacy expense management is inappropriate for how we work today
The rise of the digital economy has sparked enormous changes in the way the majority of organisations do business. To help companies meet demands for increased operational flexibility and accelerated service delivery, many have taken the necessary step of introducing decentralised procurement. This empowers employees to make purchases of goods and services on company cards that are often already used for conventional Travel & Entertainment (T&E) spending.
However, this poses problems for finance departments and those that hold the financial reins. Unravelling and analysing company card spend using manual processes and legacy software tools is very time consuming; and enforcing expense policy and spend limits may be highly unsatisfactory. In short, yesterday’s tools for managing business finances are simply not appropriate for how we work today.
A new approach for the way we work today
Our new white paper, ‘Time to Stop Thinking ‘Expense Management’ and Start Thinking ‘Smart Spend Management’, discusses the limitations of expense-only software and takes a closer look at the benefits of implementing smart spend management technology.
The paper:
- Outlines the evolution of employee spending on T&E and decentralised procurement
- Compares the capabilities of expense management with spend management software
- Considers the benefits of the holistic approach of smart spend management
Get more control and reduce your outgoings with Yordex
Yordex is helping companies reduce organisational expenditure by up to 50% and spend management costs by up to 70%. Our customers enjoy the benefit of centralised data and management controls along with streamlined financial management processes. With Yordex, you get actionable reporting and analysis, and BI that enables you to develop the thinking around your financial strategy.
Click here to find out more by downloading Time to Stop Thinking ‘Expense Management’ and Start Thinking ‘Smart Spend Management’ now. Quite simply, you’ll understand why it is time to stop thinking ‘expense management’ and start thinking ‘smart spend management’.