How to Mitigate Risk with Centralised Spend Management

A finance leader’s job is never done. There are always ways to manage money more effectively. According to our latest study with market researcher Vanson Bourne, 82% of finance leaders say their organization has made improvements to some or all of their travel, expense, and invoice processes in the last few years. While this is good news, the job doesn’t end there. 81% of finance leaders don’t have complete visibility over travel, expense, and invoice spending. Ultimately, when spend management is disconnected, many businesses struggle to see the bigger picture.

Poor processes can have dire consequences. Pay a supplier late and they could stop working with you. Failure to audit expense claims and exaggeration becomes the norm. Fall foul of government compliance legislation and you could face legal action. Plus, in this day and age, it’s never been more important to know exactly where your employees are. If you don’t have real-time visibility, your employees could be at risk. That’s a lot to consider – and this is just the tip of the iceberg.

How to Mitigate Risk with Centralised Spend Management