How Automation Can Help Your Business Scale
- Dec 21, 2015 | Christal Bemont
We at Concur have our business resolutions for 2016—and one of them is to help our clients scale their businesses. A great way to do that is to automate your expense management and tax compliance with a cloud-based solution.
As you probably know, automating expense management can do a lot for a company—saving costs, driving efficiencies, and reducing the amount of time your team spends on rote tasks like filling out and approving expense reports.
But did you also know it can also help you scale?
Automating your expenses means you’re no longer bound by the constraints of manual labor—if you need to, you can scale your policies and processes from 18 employees to 80, or 800, or 8,000–without significant investment in hardware and software. Cloud-based solutions like Concur don’t cost a lot of money up-front, so you can experiment without significant investment and scale up as your business requires it.
Automation also helps you scale by giving you better visibility into your expenses you can analyze your data to find out which spending is moving the dial on your business goals—and encourage that among your sales team. You can also negotiate discounts with the vendors you use most, freeing up funds to spend on business development.
Automated expense management also saves your employees time and boosts data accuracy, so less time is spent on filling out and approving expense reports, and more time is spent on the business.
And when it comes to tax compliance, automation lets you scale globally. Cloud-based tax automation done right—like Avalara’s AvaTax for Concur,—helps you automatically verify the tax that should be charged in your invoices, and calculate use taxes as well. These services keep up-to-date information on tax rates and requirements all over the world, which means it’s easier for your company to go global. With AvaTax, for example, you can work internationally and rest assured that you’re compliant with a country’s unique tax regulations. Concur clients can learn more about this solution in the Concur App Center.
Combine that with automated expense management, and your employees can travel widely without having to worry about keeping track of their receipts, because with an automated, cloud-based system, they can simply photograph their receipts and have them sent to and itemized in their expense reports.
Want to learn more about how automation can help your business scale? Learn more here.