Navigate Economic Uncertainty Through Visibility and Control of Business Spend

In these uncertain times, businesses are looking at how best to prepare for the coming weeks and months. Although changes are to be expected, your organisation shouldn’t let disruption drive up costs. We believe that, through full visibility and control of business spend, businesses can attain the adaptability and flexibility needed to navigate economic uncertainty and keep costs under control.

Now is the moment

It’s always a good time to control spending. But there’s no better moment than when sudden changes give you the opportunity to evaluate your business. In times when unpredictable market forces put new pressure on your trditional operations, controling your resources becomes more crucial than ever.

Why not view this moment as an unexpected opportunity to assess your operational gaps, review your workflows and evaluate your investments needed to keep the business running? Taking the right action now will not only help steer you through this reciliency period but keep you on the path to success when things return to normal, too.

Gaining visibility to control costs

Achieving full control of costs can help you adapt and remain resilient in times of economic uncertainty, supporting a strong financial statement and enabling you to redirect budgets where the business needs them most. But before control comes visibility. Having a complete view of spend will allow you to gather powerful insights and be more proactive in your decisions. For example, let’s consider an organisation that uses centralised data to track and verify all the ways employees spend. This organisation would be much better positioned to detect spend, negotiate better rates with suppliers and avoid such risks as policy violations, reporting inaccuracies, and potential fraud than an organisation without the same level of visibility. 

SAP Concur solutions to carry business forward

SAP Concur solutions can equip you to actively manage costs and navigate uncertainty by remaining adaptive and responsive as things change. Our solutions do this by connecting data, applications and processes in one place, providing you with a complete, integrated view of spend. By connecting previously siloed data like invoices and expenses, you can collect, connect and draw insights for more proactive control and agile management.

Services like Concur Expense, Concur Invoice, Concur Audit and Concur Travel seamlessly connect with our core platform to give you the full visibility required to best manage your total spend. Because sudden changes to the economy may also mean changes to country regulations, VAT requirements, impacting reclaim and financial liquidity for your business.  With our ecosystem of partners and tax experts on hand to help you better understand these changes and put you back in control amidst uncertainty. 

You can take action that will equip your business with the focus and agility needed to avoid risk and stay relevant to your market and community. Is an action that you truly can take now - all of our solutions can be implemented remotely, so you can make the changes today that will help you manage any disruption today and tomorrow.

To find out more about how SAP Concur solutions can help your business navigate this uncertainty with visibility and control of spend reach out to your local representative

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