Warning Signs of Outgrowing Your Business Processes
When a business grows, employee’s time becomes stretched as often there is more work to do with the same amount of time and resources. This is especially true when it comes to financial tasks as manual processes quickly become time-consuming and outdated.
Organisations that want to keep detailed records must realise when the cost of daily financial administrative duties outweighs the cost of putting real systems into place. This whitepaper highlights the ‘warning signs’ to show you how you can tell when your company has outgrown its system and could be in danger of not growing profitably and effectively.
There are many warning signs that organisations must look out for when it comes to expenses & benefits management. If the manual process becomes too much of a burden for employees, then it is probably time to begin to look at software to take some of the pressure off individuals. Additional signs such as travel and entertainment expenses (T&E expenses) becoming difficult, if not impossible, to monitor, and items such as mileage claims not adding up correctly can all point to the fact that a new system must be implemented.
Cloud-based software allows companies to increase both efficiency and productivity. By outsourcing to a software-as-a-service (SaaS) model, companies can streamline the financial regulation process and reduce administrative time spent. A software-based approach such as webexpenses allows more visibility and control for organisations, as well as streamlines complex business transactions.
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