While Analytics and Business Intelligence systems have been consistently listed at the top of CIOs’ prioritized spending lists in Gartner's annual CIO surveys over the past eight years, it’s surprising how few enterprises are looking beyond merely gleaning insights from data rather than what they need to make effective decisions.
Build it and they will come. It may have worked in the movie Field of Dreams, but for any business looking to make sales of their latest product or service, things aren’t so simple. Generating sales can be a complex and sometimes expensive endeavor, with marketing campaigns, lead nurturing programs, solution demos, RFPs and on-site presentations and follow-up meetings all forming a part of the typical process. Even after the initial sale, account managers need to ensure that customers remain happy with the relationship and, where possible, upsell new products and services.
In an environment when many aspects of the business world have moved online, there are still a few areas where the physical still reigns supreme. One of these is corporate-issued piece of plastic that can be found in so many business travelers’ wallets. Be they corporate cards – similar to the credit cards issued to consumers – or the more restricted P-cards or one-cards, there has been relatively little change since they were first issued more than 60 years ago.
Corporate travel expense policies are created for a reason: to provide clear guidelines for travelers, which saves the organization money by minimizing excessive or wasteful spend. As with all regulations, these policies are only effective if they’re adhered to. To achieve this, organizations need to make it easy for them to be followed and hard for them to be sidestepped.
An easy-to-use interface and a broad range of traveler-friendly features are critical elements for expense management software. So is the ability for administrators to configure the solution so that it fits perfectly with an organization’s existing policies and approval workflows.
Since joining encompass this year I’ve been speaking with many legal and professional service firms and I cannot recall a piece of legislation that will change the way they work as much as the Money Laundering Regulations passed by Westminster over the summer.
Travel and entertainment (T&E) is one of the top five controllable expenses for organizations. Organizations have become accustomed to controlling these costs by using one-size-fitsall budget cuts that aren’t necessarily good for the business. Without a straightforward way to link T&E spend to revenue, organizations are missing prime opportunities to strategically invest in the right opportunities that impact business results.