How to get the most out of your budget, part 3: Visibility

In the first two sections of this blog series, we talked about efficiency and compliance in regards to spending, and we discussed how having a connected, streamlined system for tracking and managing it all can help you make the most of every dollar.

And while that’s all well and good, if you can’t see every bit of your small or mid-size business’ budget, you’re still going to end up leaving money on the table.

So let’s have a brief chat about visibility.

 

See how five real small to mid-size business are optimizing spend the right way.

 

You can’t control what you can’t see.

We’ve been saying this for years, but it’s no less true now than when we started. If it’s your job to manage spending, you have to see everything that’s going out the door. Every dime your people spend. Where they spend them. How they spend them. All of it.

  • How else do you consolidate spending with certain vendors and negotiate discounts?
  • How else do you make sure you’re getting the discounts you’ve already arranged?
  • How else do you know if you’re getting the desired return on a project or sales opportunity?

Also, you need to know what type of spending rules to put in place. And you need to be able to see if the rules already in place are being followed.

All of this requires a solution that provides crystal-clear visibility into your company’s spending practices and policies.

 

Take a look on the bright side.

The Concur solution offers the connected, efficient system we mentioned, managing all your payments and expenses in one convenient place. It shows you where your money is going, helps you manage what it’s doing and sends you home at night knowing your budget is delivering every dollar.

That means a stronger position at the bargaining table, a more accurate gauge of ROI, and simpler finance system overall. All this, plus you can rest easy knowing you have your eye on the ball.

Learn more about Concur solutions for small businesses at Concur.com

 

See more: How to get the most out of your money, part 1: Efficiency

See more: How to get the most out of your money, part 2: Compliance

 

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