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Gear Up For Corporate Spend Automation Plan-2020

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Gear Up For Corporate Spend Automation Plan-2020

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Often dubbed as the ‘change agents’ for an organisation, CIOs today are entrusted with the most important task of leveraging technology for a company’s success. Right technology implementation is the nub for accelerating the profitability of an organisation.
With the advent of digital transformation, CIOs are curating their technology roadmap and leaving no stone unturned to check the tech trends and ride on the latest technology bandwagon.

According to Gartner CIO agenda survey, about 51% CIOs are taking charge of innovation and 49% are heading digital transformation. Large scale digital transformations take 3-5 years on average to yield significant results.

Business expense automation is one of the most crucial areas of digital transformation. About 95% of companies have standardized processes, but still organizations are losing huge amount of money owing to frauds.

The need of the hour is one such solution that promises to provide a lot of benefits for minimal cost. At the same time, since the traditional methods have been working well for decades, why would businesses move away from such established systems and opt for automated expense management?

Often dubbed as the ‘change agents’ for an organisation, CIOs today are entrusted with the most important task of leveraging technology for a company’s success. Right technology implementation is the nub for accelerating the profitability of an organisation.
With the advent of digital transformation, CIOs are curating their technology roadmap and leaving no stone unturned to check the tech trends and ride on the latest technology bandwagon.

According to Gartner CIO agenda survey, about 51% CIOs are taking charge of innovation and 49% are heading digital transformation. Large scale digital transformations take 3-5 years on average to yield significant results.

Business expense automation is one of the most crucial areas of digital transformation. About 95% of companies have standardized processes, but still organizations are losing huge amount of money owing to frauds.

The need of the hour is one such solution that promises to provide a lot of benefits for minimal cost. At the same time, since the traditional methods have been working well for decades, why would businesses move away from such established systems and opt for automated expense management?

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Gear Up For Corporate Spend Automation Plan-2020

  1. 1. Gear up for Corporate Spend Automation Plan-2020
  2. 2. Why Spend Management is need of the hour? Source: LiveMint Source: LiveMint Source: India Today GDP, Manufacturing PMI are falling and CPI Inflation is on the rise. For the companies controlling spends is important in this environment. Currently companies manage spends manually, end to end spend automation is the key. Retail Inflation
  3. 3. Large scale business automation take 2 years on average to yield significant results 70% of companies do not meet their stated goals when it comes to IT transformation Source: FORBES What are key apprehension of CIOs towards IT Transformation? 11% 38% 38% We primarily see mid-term returns (13-24 months) We primarily see long-term returns (more than 24 months) Inconsistent Timing (1%) We primarily see near-term returns (12 months or less) Source: FORBES
  4. 4. How businesses can change this existing trend associated with IT transformation? Cloud Based Spend Management Solution is the answer Quick implementation Cloud based SAAS solution are known for their swift implementation. Average time require for implementation is just 3 month Faster ROI 57% of companies who have opted cloud-based solution have managed to achieve ROI within 1 year Ability to eliminate upfront infrastructure investment and for applications in the cloud offers enterprises significant start-up cost benefits and significantly reduces time to market.
  5. 5. CURRENT SCENARIO Employees attach bills to get reimbursements Approvals are manually routed from one to other Organisations still do manual entry of vouchers No visibility on budgetary lapses & culprits 75% 66% 59% 48% POLICY COMPLIANCE COMPROMISED: Inefficient ways to monitor deviations in travel policy WRONG IT SYSTEMS & SOFTWARE: Most feel that ERP, Accounting s/w, or HRMS can manage T&E expenses TRANSPARENCY IS A HUGE CHALLENGE: Poor visibility into budgetary lapses, leakage prone areas 5 VA TECH VENTURES. PROPRIETARY & CONFIDENTIAL CHALLENGE WITH AS-IS PROCESS LESS CONTROL OVER SPEND: Siloed processes, erroneous data, unfit
  6. 6. Vendor’s Roadmap alignment with your use-case Make usability a key selection criteria, but critically evaluate how much of the R&D roadmap will be of practical use to you Recommendations: When it comes to choosing a SAAS Solution for your business Use-case in Similar Vertical Select vendors based on their experience and capability of serving customers "similar to you." Correct Fit for Demographic Place emphasis on out-of-the-box support for your organization's country- specific and industry-specific requirements. Exceptional Analytics & Data-Capturing Capabilities Evaluate providers on their approach and level of sophistication to capturing receipt images, as well as on their approach to reporting and analytics. SOURCE: Market Guide for Travel Expense Management Software
  7. 7. 2020 VA TECH VENTURES - COMPANY CONFIDENTIAL • End-to-End Automated Solution • Streamlined Travel and Business Expense Workflow • Seamless integration with TMC, ERP and HRMS Integration. A NEW AGE EXPENSE MANAGEMENT SOLUTION WHAT IS HAPPAY?
  8. 8. HAPPAY BENEFITS AT GLANCE 042020 VA Tech Ventures - Company Confidential ROBUST POLICY ENGINE FASTER REIMBURSEMENT SEAMLESS INTEGRATION STRONG ANTI-FRAUD CONTROL REAL-TIME DATA VISIBILITY EASY SPEND RECONCILIATION STRESS- FREE AUDIT USPs 7X Faster processing of expenses ROI WITH HAPPAY 96% Reduction in paperwork >50% Increase in employee productivity 100% Visibility & control over expenditure 100% Digitalisation of expenses
  9. 9. 5500+ Customers across India 40+ Business Verticals 1Bn $ Gross Merchandise Value 160+ Cities and towns in which Happay cards are used 10+ sales offices across India ABOUT 2020 VA TECH VENTURES - COMPANY CONFIDENTIAL VARUN RATHI Co-founder & COO ANSHUL RAI Co-founder & CEO FOUNDERS INVESTORS OUR REACH CLIENTELE
  10. 10. THANK YOU

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