Enterprises Must Attach Importance To Travel And Cost Flow Changes.

Recently, a new global study commissioned by Forrester Consulting (Fries special consultancy) for Concur has explored how mobile and digital channels can subvert travel and cost management. This subversion brings new challenges to financial managers in enterprises.

According to the research report, "Forrester finds that enterprises are making great changes in improving travel and cost processes from the perspective of financial cost saving, employee satisfaction and process efficiency".

To further explore these changes, Forrester tested the hypothesis, that is, today's

A strategic view of travel and cost solutions is needed to help promote enterprise development and innovation.

It is understood that in order to carry out this research, Forrester conducted an online survey of 500 financial decision-makers in North America, EMEA (Europe, Middle East and Africa), Asia Pacific and Australia / New Zealand.

The key findings of the new study include: first, travel and cost tools and capabilities must keep pace with the times so as to match the technologies and tools that employees have used in their personal lives.

Mobile and digital technology has expanded the way users conduct and track purchases in their personal lives, and employees now expect their employers to support those same abilities.

Today, enterprises will use mobile applications as the most effective way for employees to comply with travel and cost policies.

By giving users mobile travel and cost support, financial managers can provide real-time insight into cost trends and evolving travel plans.

Secondly, for financial leaders, manage travel and

It is a great challenge, but there is not much time for them to deal with this problem.

For all financial leaders, tracking travel expenses is a strategic element, but it is difficult to balance their needs.

Financial leaders now need to use more intuitive tools to simplify travel and cost processes and provide critical insight into cost trends.

Forrester found that in response to these challenges, 73% of enterprises will actively update or plan to update their travel and cost systems in the next 6 months.

In addition, new travel and cost investments are mainly concerned with upgrading processes.

And improve data analysis and reporting to support employees.

Financial leaders unanimously agree that support workers make smarter decisions and comply with company policies, which is essential for effective travel and cost management.

Therefore, the solutions needed by enterprises need to be user friendly, easy to deploy and integrate with existing systems.

Such capabilities as integrated travel booking and cost system and receipt information acquisition (automatically generate cost reports) can play a vital role in helping staff experience and promoting compliance.

Mike Eberhard, President of Concur global distribution, said: "Concur is committed to providing innovative solutions that enable financial managers to overcome the challenges posed by today's fast-paced digital business environment.

With the support of the integrated Concur ecosystem, you can enable employees to make smart decisions with intelligent tools and applications, and at the same time gain insight into the cost savings.

Our solution can help simplify and automate the travel, cost and invoice processes, facilitate staff to complete their tasks quickly, and provide accurate merger data to enable financial managers to manage the significant financial series effectively.