A Tale Of Two Finance Departments

WHAT DOES THIS MEAN?

WHAT DOES THIS MEAN?

Employees submit and managers approve expenses electronically, receipts are captured and stored online, and exceptions are caught through automation.

Of those companies who have not automated their employee expenses process

45%Not a top priority

30%Not enough resources to make the change

20%Couldn’t get senior management buy-in

15%Too expensive

10%Solution was missing key functionality

43% 13% 13%43% 30%

47%32%29% 47%41%

Of the 48% who had considered expenses automation but didn’t end up taking a solution on board, what held them back?

While you might think cost was one of the top reasons, culture and change were even bigger issues. Here’s what these financial leaders said were the reasons they have so far not implemented an automated expenses management solution:

Doesn’t let employees manage expenses

on a mobile

Doesn’t give us enough data into spend

Is time consuming and complex

Not linked to our travel management system

Too expensive and not cost-e�ective

Despite the various reasons companies can’t reach a solution on automation, finance departments are struggling with the status quo.

HOW CAN EXPENSES AUTOMATION HELP? For the companies who have automated, here are some of the features they say are the most common, and the ones you should be looking out for if you are considering expenses automation.

Accounts Payable automation

Mobile apps and capabilities

Ability to book travel

Reporting and business intelligence

Automated controls for travel and/or expense policy compliance or auditing

Concur thank the finance professionals who shared their views in this survey, and were pleased to support the Chartered Accountants Benevolent Association (CABA) with a donation for each survey completed.

Employees use a a spread-sheet or similar paper form for submission and approvals, with paper receipts attached.

42%

have considered doing it.

48%

haven’t been able to give it a thought.

45%

Our employee expenses process is handled entirely

ON PAPER

44%Our employee expenses process is entirely or mostly AUTOMATED

THE CURRENT EXPENSES PROCESS...

Leading the technology charge

If you’re struggling to keep up, you’re not alone. Learn more about how Concur Travel & Ex-pense has helped more than 30% of the FTSE100 companies lead the technology charge at:

concur.co.uk

To the question of "Would you describe your company's current expenses process as being

entirely on paper or entirely automated?" the results were split right down the middle.

WHICH ONE ARE YOU?

Concur surveyed members of the Institute of Chartered Accountants in England and Wales (ICAEW) about their use of financial technology. Based on the results, it seems that there are two

kinds of finance depart-ments in the UK: those who are leading the financial technology charge and others who are struggling to keep up.

Struggling to keep up

*Statistics based on 44 respondents.

* Statistics based on 77 respondents.

*Statistics based on 20 respondents. Multiple responses possible.

*Statistics based on 23 respondents. Multiple responses possible.

*Statistics based on 34 respondents. Multiple responses possible.