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In addition to time savings, the visibility and control that a spendmanagementsystem gives are required to reduce unnecessary, unplanned, or rogue spending. Spendmanagement provides the levers of control needed to be responsive. How spendmanagement improves agility in the face of uncertainty.
Payments and cash flow can be the difference between life and death for small and medium-sized businesses (SMBs), This also applies to expense and spendmanagement, which have a massive impact on cash flow. Of course, challenges abound when it comes to deployment of such expense and spendmanagementsystems.
Navan, a major provider of travel and expense management reporting, has launched the Navan Accountant Console, a centralized dashboard that streamlines spendmanagement for accounting firms supporting multiple clients, users, and products. There are more than 86,000 CPA and accounting firms in the U.S.
Distributed spendmanagement platform Teampay will be integrating with Ironclad , a digital contracting platform, to help connect financial and legal workflows and streamline spendmanagement, according to a Wednesday (Oct. 28) press release. Previously, the release notes, companies needed a contract to be signed.
Such systems may have gained popularity during the pandemic, yet according to Maria Parpou , Barclaycard ’s chief product officer, these innovations are poised to outlast the public health crisis that made them necessary. Parpou said she believes that digital spendmanagement tools have the potential to become long-lasting.
Airbase, a spendmanagement company looking to consolidate a range of expense management processes for organizations, has announced new funding for its technology. In an interview with the publication, Founder and CEO Thejo Kote described the firm as “the first all-in-one spendmanagementsystem.”
When it comes to solutions, the latest Workforce Spend Playbook , a collaboration between PYMNTS and Bento for Business , is a compilation of the best spendmanagement approaches currently available. Weddings and events are another sector experimenting with card-based spendmanagement efforts.
The rise of the gig economy and the popularity of remote work are among the factors that are laying bare the need for better spendmanagementsystems and technology. The immediate goal is to move such spendmanagementsystems for field technicians away from their reliance on cash and checks.
Traditionally, this meant largely unmanaged spending since companies were never sure how much was put on cards. As a result, they lacked real-time control over that spend. There are different definitions of spend under management. Classify and communicate the scope of unmanaged spend.
In his work, Reuben finds the prime area in need of improvement is spendmanagement. Typically, we end up with disparate systems.” He added that many clients introduce a consolidated spendmanagementsystem to resolve those issues and improve collaboration. To see how it works, just schedule a demo !
Despite the influx of spendmanagement software products, all designed to make employee spending easier to manage, many of these gaps remained. Controller Eoin Hession confirms the importance of usability: “Airbase is an impeccably streamlined, user-friendly spendmanagementsystem designed for all employees.
The big action in corporate spendmanagement is travel and entertainment (T&E), where the 800-pound gorilla has long been Software-as-a-Service (SaaS) goliath, SAP Concur. billion expense management pie), a group of competitors has merged into a new company to challenge SAP’s category dominance. Follow the AI Money.
Regular reporting that is available from spendmanagementsystems can help you stay on top of how well your vendors are serving your company’s objectives. Employ technology for vendor management. Software solutions for vendor management can be a great benefit to you as the customer and to your vendors.
The following Deep Dive highlights how workforce spendmanagementsystems, predictive maintenance and enterprise resource planning (ERP) solutions can take away field-based workers’ financial woes, enabling them to focus on their jobs instead.
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