Configurable Expense Management for Today’s Evolving Businesses
Expense management and reporting for small and medium businesses
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SMBs are attempting to modernize their expense management processes. There is a growing need for automation. Cloud and mobile technologies can streamline the process. 42% of SMBs need to improve their expense management process from creation and submission through reimbursement. Using spreadsheets and document templates is not sustainable as the organization grows. Ad hoc processes do not work when employees are on the road and removed from the office. Benefits of automation: - Employees will file expenses in timelier manner - Few mistakes will get through - Decision-makers will have greater visibility into costs Cloud and Mobile are the way to go for SMBs - 55% of SMBs plan to implement a cloud-based solution for expense management within the next 2 years - Cloud and mobile technologies are attractive because they can be accessed anywhere - Cloud based solution are suited for SMBs because: they require no internal IT, are updated automatically, and can be purchased on a subscription-basis.
Transcript of Expense management and reporting for small and medium businesses
Expense Management For SMBs
Keepek We simplify expense management and reporting
Key facts
• SMBs are attempting to modernize their expense management processes
• There is a growing need for automation
• Cloud and mobile technologies can streamline the process
But.. An inefficient expense management process can:
• lead to out of control costs
• overpayments
• harm relationships
Travel is intended to add to the bottom line
42% of SMBs need to improve their expense management process from creation and submission through reimbursement
Using spreadsheets and document templates is not sustainable as the organization grows
Ad hoc processes do not work when employees are on the road and removed from the office
A need for modernization
18%
42%
7%
36%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
Mobility (allowing travellers accessvia mobile app or portal)
Expense management process(creation, submission, approval, and
reimbursement)
SMB
Large Companies
(Source: Aberdeen Group)
The top 2 areas to improve
• Employees will file expenses in timelier manner
• Few mistakes will get through
• Decision-makers will have greater visibility into costs
Benefits of automation
37% 39%
23%
33%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
Need to eliminate manual andpaper-based process
Need to reduce expense-processingcosts
SMB
Large Companies
(Source: Aberdeen Group)
Top pressures for SMB vs. Large Companies
• 55% of SMBs plan to implement a cloud-based solution for expense management within the next 2 years
• Cloud and mobile technologies are attractive because they can be accessed anywhere
• Cloud based solution are suited for SMBs because: • They require no internal IT • Are updated automatically • Can be purchased on a subscription-basis
Cloud and Mobile are the way to go for SMBs
20% 41% 55% 7%
33%
22% 53%
2% 0%
20%
40%
60%
80%
100%
120%
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Man
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nd p
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in 2
yrs)
Large Companies
SMB
(Source: Aberdeen Group)
Technology adoption trends
Keepek is a mobile and web-based solution that simplify expense management for Small and Medium Businesses
Start painless expense management now and sign up for a fee
account at www.keepek.com
