Keeping Your Expense Processes Up-to-Date with Hybrid Work
Are your expense processes keeping up with hybrid work? These 7 Questions Can Help.
The hybrid work environment changed everything. In fact, according to an Oxford Economics report*, 47% of finance and IT leaders agree the move to remote work highlighted inefficient business processes. In response, 53% agree that the pace of digital transformation at their organization is speeding up.
As companies make these changes, they’re paying particular attention to business spending and expenses because finance is uniquely affected by the hybrid work environment. Not only are spending categories different than before the pandemic, the processes used to manage spending have typically relied on everyone being in the office.
So how do you know if your business is equipped to manage expenses in a hybrid model? How do you know if your processes will be able to keep spending in check? Ask yourself these seven questions:
- Have you automated business processes, or are they just semi-digital?
- Are you listening to what remote employees are telling you?
- Are you listening to what your hybrid-based spending is telling you?
- Are you fine-tuning your remote work expense categories?
- Are you fine with missing receipts?
- Are you auditing and verifying expenses and charges?
- Are you tracking approval times?
To get more details on these questions, download the evaluation checklist.
