Taking Control of Costs: New Tech Makes Business Spend Management Easier
For corporates, the goal, especially in the current inflationary environment, is to squeeze margins higher. Discover how companies leverage AI and data to control costs.
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What is the current focus for businesses in managing costs?
Companies are focusing on squeezing margins higher by increasing sales momentum while being judicious about costs. This involves automating and controlling operating expenses through various platforms and payment instruments.
How are virtual cards impacting business spend management?
Virtual cards are becoming increasingly recognized for their simplicity and security. Firms that do not use virtual cards face an average revenue loss of 4.6% due to payment uncertainties. The global value of virtual card transactions is expected to grow significantly, indicating their potential to enhance cash flow visibility and efficiency in B2B spending.
What recent developments are shaping spend management platforms?
Recent advancements include Paylocity's acquisition of Airbase to create a consolidated spend management platform, Coupa's addition of over 100 AI-powered innovations, and Corpay's launch of a mobile-ready spend management solution. These developments aim to simplify corporate payments and enhance expense management through better integration of transactional data.
Taking Control of Costs: New Tech Makes Business Spend Management Easier
published by COMPSOLGLOBAL INC.
CompSolGlobal (CSG) is a Microsoft AI Cloud Partner Network Independent Software Vendor (ISV) and a Microsoft Gold Partner for Cloud Platform, Azure DevOps and Application Development. CSG offers Cloud Services and Solutions for Global Enterprise. Comprised of IT consultants with over 20 years of experience working with Microsoft products and helping enterprise-level businesses digitally transform.
CompSolGlobal (CSG):
- Microsoft AI Cloud Partner: CSG is an Independent Software Vendor (ISV) within the Microsoft AI Cloud Partner Network.
- Microsoft Gold Partner: They hold the prestigious Gold Partner status for Cloud Platform, Azure DevOps, and Application Development.
- Cloud Services Expertise: Offering a range of Cloud Services and Solutions tailored for global enterprises.
- Experienced IT Consultants: The team consists of IT consultants boasting over 20 years of experience with Microsoft products, specializing in aiding businesses through digital transformation.
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