What does it take to ensure your finance processes are robust and resilient enough to tackle what lies ahead? We talked to business leaders around the world and evaluated insights gained through recent global surveys conducted with both AMI-Partners and Aberdeen to uncover spend management capabilities shared by best-in-class companies.
What we learned is that these businesses possess six top capabilities:
1. Fully automated spend management
2. Connected spend data
3. Near real-time spend visibility
4. Intelligence to control spend
5. Mobile-enabled employees who can work from anywhere
6. Versatile solutions backed by expert service and support
Perhaps most importantly, it was also revealed that best-in-class businesses were only able to enjoy enhanced cash flow control and business resiliency by connecting automated expense and AP processes together. By integrating spend data, these businesses were able to be more agile by better forecasting cash flow, avoiding manual errors and invoice late payment fees, and timing payments to maximize working capital.
To help move your business forward, download the eBook today for a checklist you can use to assess your own company’s resilience.