The business case for automationThere are clear-cut benefits to automating expense and invoice management. Key findings include:
- ? 500 hours saved annually per finance employee using an integrated expense, travel and invoice solution
- ? ?22,000 average annual savings after implementing a travel and expense solution
- ? Average savings of ?15 per expense report
- ? ?25,000 average annual savings after implementing an invoice solution
- ? Average savings of ?8 per invoice after implementing an invoice solution.
Getting ready to switchIntroducing a new process can be daunting for some SMEs that have got used to working a certain way, but that?s never a good reason to resist change that could ultimately offer great advantages. Implementing an automated solution can be a straight forward process, requiring only basic IT support. For larger firms, it is a good idea to ensure that the solution provider will offer a more hands-on service. Potentially, some business owners may be put off by the idea of a new cost. While it is important to do your homework on the cost of implementation, it is worth remembering that in the long run it can help your bottom line. The report explained: ?Hesitant firms should not underestimate the potential long-term savings a well-guided solution can generate. In addition to cost savings, there are a variety of benefits that are tougher to quantify but can have a significant impact on the overall business.? Overall, manual expense and invoice reporting might be working right now, but all ambitious businesses need to think ahead. Choose tools that can scale with you to future-proof your business. For more information, or to read the full report, click here.?
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