As a finance leader, you’re in charge of driving your business growth and there’s a lot you have to consider. You need to stay on top of HMRC tax and government regulations with a robust audit trail that can stand up to scrutiny. You’ll also have a legal obligation to ensure duty of care as more employees join and travel for your business. And when you eventually get to the stage of expanding into more countries, there are different tax and language considerations to bear in mind.
One thing is certain – everything gets more complex as you grow and putting in place the right finance processes today can save you hassle, costs and legal issues down the road. This is especially true for those processes where employees are spending on the company’s behalf – such as expense, travel and invoice processes.
In this guide, we will examine three key challenges that may arise as you grow, discuss some of the benefits of a holistic solution for managing spend and give you some best practices for a truly successful spend management strategy that can grow with you.