Gear up for Corporate Spend Management plan 2020

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Over the years, organisations have tried to scale up on their profits
and minimise on their regular expenses. With the increase in the expansion of
the organisations, it is obvious to increase on the amount of funds which are
needed for that expansion in various forms, right from setting up the
infrastructure to managing employee expenses including their salaries as well
as reimbursements for managing & growing business. In the past decade the
focus was on Payroll management, Manufacturing ERPs and Sales SRMs to get
process-driven in the corporate settings .Along with that, the companies have
been focussed on Spend management & Business Expansion Automation to reduce
the frauds and get higher returns. The ushering of this decade has brought a
huge change in the trend due to Cloud Computing Management & Systems as
well as AI (Artificial Intelligence). This has brought the spotlight on people
and processes, both. The manual spend
management are now redundant and organizations need to move ahead with the technology
up gradations for which end to end spend automation is the key.

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Almost all the companies follow standard practices from years, which
have been working well for managing these expenses, however, there is a huge amount of money which
could be saved upon with the help of automation process of the Business Expense.
The earlier system of Tally and taking into account the vouchers and travel
billings were handled by the accounts department alone. However, now it is seen
that there has to be a transparent and coordinated system between sales,
finance, HR and budgeting departments to ensure smooth functioning. This
shifting trend in business automation has led to more people focused approaches
to be adopted and automation in new and innovative ways to solve the
fundamental gaps in the processes.

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Cloud based Spend
Management Solution is the answer for this.

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Why?

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• Helps in making processes seamless
• Better control on income vs. expenses
• Cost effective in longer run
• Scalable and customizable
• Fraud control is made possible
• Quick, accurate and secure way
• Optimum utilization of resources and enhanced ROI

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With the gearing up for 2020, these factors are especially crucial for
the growth of organizations. Corporate
spending focus is now on increasing productivity of people through process
driven solutions that eliminate duplicity of work, increase authenticity &
transparency and take decisions beyond automation by better governance with the
help of technology. With trained analysis and approval monitoring
through the common platform for travel expense management, there is better
control on expenses that are prone to fraud and tampering ie. via vouchers,
travel claims and reimbursements. With the right kind of streamlined data
tracking available, there is automatic control of travel expense management
leading to faster decision making and rise in people productivity.

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A lot of factors can be taken into consideration while choosing a SAAS
solution by the companies like data capturing capabilities, customisation as
per the demographics, user friendly, selection on the basis of experience and
few more.

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In spite of the benefits of these automation processes, a lot of
companies are reluctant to absorb and implement the same due to these two major
reasons –

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1. Slow implementation – For significant results, automation
   in large scale business would take up to 2 years to observe substantial
   results.
2. Low ROI -70% of companies do not meet their stated goals
   when it comes to IT transformation.

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The new age Cloud
Based Spend Management by Happay especially takes care of all these factors
which make the companies apprehensive to these towards this IT transformation
for managing business expense. The gaps found in these two domains have
been taken up and the solutions for these are well covered by Happay.

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Few benefits of
Happay are listed below with the major focus on Faster ROI –

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With the help of
this, a great amount of productivity and cost control can be achieved for
business growth. Along with that, data security is also considered as one
of the major pre-requisite by Happay as a protocol. With the growing need for
business expense automation, Happay is already serving in 40+ business
verticals including 5500 clients having footprints in India as well as
globally.

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Check the webinar:

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Happay Presentation:

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