Managing expenses traditionally was a painful, time-consuming chore involving paper receipts and manager approvals. The majority of companies still do it that way, says Mike Hilton, executive vice president of Redmond, Wash.-based Concur, a vendor in the automated expense management space. Fewer than 10% of global companies have automated the process, he adds. But new technologies are driving adoption now. Concur steadily adds more credit card companies, travel companies and hotel chains to its system, allowing paper receipts to be eliminated right at the source. Once expense information is centrally managed, companies can mine it for insights about spending patterns.

Continue Reading for Free

Register and gain access to:

  • Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
  • Informative weekly newsletter featuring news, analysis, real-world cas studies, and other critical content
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.