6 Strategies for Finance Resiliency via Digital Transformation

COVID-19 has been a rough ride for many businesses. If the current crisis has highlighted anything, it’s that the role of the finance leader in steering the business through turmoil is critical. We are entering a new phase that is fundamentally resetting much of what has gone before – there will be no normal to return to. Finance leaders should see this as an opportunity to redefine their business’s strategy, operations and technology in order to lead the organization through this challenging time.

This white paper explores the detailed actions finance leaders can take now to equip their business for the next stage, and how implementing a digital transformation within the finance function can help futureproof the business for whatever lies ahead.

To help you get there, we consulted with Andrea Yandreski, partner at Bain & Company to determine six strategic steps for building business resilience:

1. Scenario planning: Make contingency plans for potential events that could drastically impact your business

2. Strengthen your working capital: Free up cash by settling accounts, renegotiating loans, and adjusting investment schedules.

3. Improve company spend visibility: Automate and integrate spend management, so you have the data you need to guide smart spending, enforce compliance, and root out waste.

4. Look for cost-saving opportunities: Identify and redirect spending that is not delivering strong returns.

5. Eliminate low-value work: Automate manual processes that slow your people down, so they can be more productive and stay focused on valuable, satisfying work.

6. Plan for new ways of working: Provide your people with the tools they need to stay flexible and do their jobs, no matter what the future brings.

From scenario planning to spend management to enabling remote work, digitally transforming finance operations gives you the insight and flexibility you need to face uncertainty.

Read our complete whitepaper to find out more about how strategic planning can help you gain competitive advantage in your industry. Then contact us at www.concur.ca to get started.

Gain access to all premium content once you fill out the form.

Please share some information about yourself to receive premium information that can help you solve the major travel and expense challenges businesses face today.

Concur respects your privacy. The information you provide us is intended for internal use only, and we will not share, sell, or distribute your information. View our privacy policy. You will receive educational information and news about Concur products and services.

Enter your contact information and submit this form using the button below to receive marketing communications regarding SAP Concur products, services, events, and special offers. You may withdraw your consent at any time.

First name *

Last name *

Phone number *

Business email *

Company name *

Postal code *

Job title *

Industry *

Number of Employees *

Country *

I agree that SAP Concur shares my personal data with other SAP entities as outlined in the SAP Concur Privacy Statement.

Required fields *

Your consent to send marketing communications is requested by Concur Technologies, Inc. on behalf of itself and its subsidiary, Concur (Canada) Inc. You may contact SAP Concur at 222 Bay Street, Suite 2000, Toronto, Ontario M5K 1B7, +00 1 800 401 8412. SAP Concur respects your privacy. Please review our Privacy Policy for more information.