Benefits beyond the coronavirus crisis
It hardly needs to be said that digitisation’s benefits aren’t just limited to lessening the impact of Covid-19 on business. If digitised processes mean higher efficiency, many organisations are squandering these potential gains. Many respondents labelled their spend management in the survey as ‘manual and time-consuming’, and this sentiment is confirmed through anecdotal evidence – spend management processes were one of the most obvious areas of development we found while performing transformative advisory work.
Spend management isn’t the only proccess left unadapted. Despite several tasks lending themselves to digitisation and automation, many are still at least partly manual for many organisations. Our report found exactly this; only a minority of respondents had fully digitised tasks such as supporting document submission or expense validation.