Can your technology keep up with you as your business grows?

Here at Concur, we know what it’s like to start small and grow. We began as a company because our CEO, Steve Singh, felt the pain of doing an expense report in Excel during a 36 hour expense reporting marathon. Over the last 23 years, we’ve grown from the ground up to over 5,000 employees. A couple of years ago we were acquired and we’re now a part of the SAP family.

 

Our success may make us sound big, but it’s given us the insight and resources we need to build our technology so that it can meet the needs of any size business. We know what growing pains feel like, so we make it easy for you. As your business grows, we grow with you, so you don’t have to go searching for new technology every time you hire a few more employees or add a few new locations.

 

I work with small business owners and leaders every day, and often they are looking to change their processes because their business has grown and their current way of doing things can’t keep up. Many solutions that seem free or less expensive look great when those organizations have a handful of employees, but they soon find that their work-arounds are slowing them down and have become a huge pain.

 

So how do you grow and scale your business? Here are four recommendations based on a survey conducted by eMedia for Concur:
 

  1. Define growth for your business

Does growth to you mean increased revenue – as it does for most businesses? How will you drive increased revenue for your company? New products? New employees? New locations? And do you have the tools you need to measure your success and your ROI for new endeavors?

 

  1. Define your strategy

Once you’ve defined what growth means for your business, think about the correct strategy for tracking your growth. According to the survey, slightly less than half of businesses have scalable spend management tools. How can you grow your business if your tools, systems and processes don’t make it easy to scale?

 

  1. Access the right information

Strategic growth depends not only on accessing the right information, but also getting it to the right people at the right time. Survey respondents say that, among other things they use travel and expense management tools (81%) and tools to give them visibility into cash flow (61%) to keep track. Yet 50% of survey respondents acknowledged that they have business systems that are unable to keep up with growth.

 

  1. Build a solid foundation

Once you figure out the tools you need, it’s important to make sure everyone in your company understands those tools and how to use them. Tools should be ready for your business to set up and easy for you and your teams to learn to use.

 

In today’s competitive environment, no one can afford a stagnant business strategy. When you have the tools you need to keep your business running smoothly and can see the complete picture of what you’re spending and investing in growing your company, you can stay on the path toward growth, however you may define it for your business.

Interested in how we can help you grow and scale your business here at Concur? Click here to learn more.

Loading next article