WEBINAR VIDEO

How are the tech leaders curating expense automation roadmap?

Often dubbed as the ‘change agents’ for an organisation, CIOs today are entrusted with the most important task of leveraging technology for a company’s success. Right technology implementation is the nub for accelerating the profitability of an organisation.
With the advent of digital transformation, CIOs are curating their technology roadmap and leaving no stone unturned to check the tech trends and ride on the latest technology bandwagon.

According to Gartner CIO agenda survey, about 51% CIOs are taking charge of innovation and 49% are heading digital transformation. Large scale digital transformations take 3-5 years on average to yield significant results.

Business expense automation is one of the most crucial areas of digital transformation. About 95% of companies have standardized processes, but still organizations are losing huge amount of money owing to frauds.

The need of the hour is one such solution that promises to provide a lot of benefits for minimal cost. At the same time, since the traditional methods have been working well for decades, why would businesses move away from such established systems and opt for automated expense management?

Join The Economic Times Live Webinar, powered by Happay, to learn why business expense automation is one of the crucial elements of digital transformation. Also, get to know how the CIOs are curating their business automation roadmap.

• Partial automation: About 82% of companies are either partially or entirely lacking in making the whole T&E process automated despite it being the second-largest operational expense after payroll.


• AI/ML: Digital business hinges on sound IT, combining new, disruptive technologies like AI/ML with a rebalancing of existing infrastructure. The choices you make as CIO are essential to success. 


• CIO-CFO Collaboration: The success of IT transformation hinges on successful collaboration of CIO & CFO cites a recent Forbes Insight Global research paper. Select companies that succeeded in IT transformation efforts have registered over 7% gains in sales and profits. Unfortunately, despite investing heavily in time and money, many other companies pursuing IT transformation still haven’t found the secret to gaining significant improvements in customer service and a clear competitive advantage from these efforts.
  

Key Takeaways:

• Eliminate unauthorised spends and curb frauds with ‘pre-spend’ tech controls
• Manage cash flows effectively with technology
• Empower employees to manage expenses on the move