5 takeaways on the future of expense management


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Short presentation with the key findings on the future of expense management. Download the full whitepaper for free at blog.xpenditure.com

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5 takeaways on the future of expense management

  1. ContentsFive takeawayson the future of expense management
  2. ContentsBusiness expenses form a large part of thecosts of every company but often they arehidden Smaller companies are able to use the samehigh quality software as Fortune 500 companies The use of cloud computingdisrupts current expense management solutions
  3. ContentsFive takeaways
  4. 1#ContentsCloud based business softwareincreases compliance © C10sed - Flickr
  5. ContentsFirst takeaway Cloud based business software increases complianceIn companies with cloud based expense management, compliance with corporatepolicy is 17% higher than in similar organizations with on-premise or manualsystemsBest in class cloud based solutioncompanies see 90% compliance withcompany policies, traditional softwarecompanies only 59% (Source: Aberdeen Group) © C10sed - Flickr
  6. Contents#2Cloud based analytics of businessexpenses increase organizationalintelligence © MillionEyez - Flickr
  7. ContentsSecond takeaway Cloud based analytics of business expenses increase organizational intelligenceThe unified view on company expenses improves collaboration and coordinationbetween executives and extracts greater value from their business travel.57% of companies that use cloud basedbusiness expense management are ableto use expenses information forimproving organizational intelligence (Source: Aberdeen Group) © MillionEyez - Flickr
  8. 3#ContentsCloud based analytics of businessexpenses increase ROI © Siddy Lam - Flickr
  9. ContentsThird takeaway Cloud based analytics of business expenses increase ROIAnalyzing business expense from a central database allows better insights onspending behavior and travel costs.For every dollar spent on business travel, companies generate between $10 and$15 dollar on revenue increase. Expense analysis can show unexpectedopportunities to save money on travel spending.Cutting redundant travel costs can increase the revenue proportion even more © AaronPatterson - Flickr © Siddy Lam - Flickr
  10. Contents#4Cloud based businessexpense managements systemsallow better collaborative functions © Birgit44 - Flickr
  11. ContentsFourth takeaway Cloud based business expense managements systems allow better collaborative functionsNext to the previously mentioned organizational excellence, expense managementsystems can help stimulate collaboration in the company.Collaboration amongst executives is interesting to lower travel costs, but canalso enable new opportunities to leverage the outcome of business travel. Today, already 41% of the companies using cloud based expense management use these systems to improve collaboration. © Birgit44 - Flickr
  12. 5#ContentsThere are differences between howsmall and large enterprises seebusiness expense management © GeoY5 - Flickr
  13. ContentsFifth takeaway There are differences between how small and large enterprises see business expense managementSmaller companies focus more on improving existing processes for themanagement for expenses, getting more ROI from travel and more insight in theexpensesLarger companies often have already insight in the expense managementprocesses and focus more on enforcing existing policies for this matterSmaller companies are advised to look at their expense management more closelyand to treat it as it strategic business function rather than just a business need. Fortunately, new cloud based solutions make it possible to purchase high quality solutions for the a fraction of the price than the previous generation expense management solutions © GeoY5 - Flickr
  14. Contents General considerations for a cloud based expense management solution Ensure integration possibilities of payment transactions Go for a user friendly application The company policy should be implemented without much effort Look out for comprehensive reporting modules Go for mobile device integrations (research sources: Aberdeen Group & Ziff Davis)
  15. Contents Xpenditure is cloud based expense management solution that combines real time spend monitoring with digitalized receipt management.•Take a picture from your receipt•We will scan the receipt and extract date,merchant, amount and currency.•Expenses are created in the online accountfor further analysis and reporting Start painless expense management now and sign up or a free account at www.xpenditure.com Download the full whitepaper on The Future of Expense Management on blog.xpenditure.com