CFO Confidential:
The Best Kept Profitability Secrets of Top Finance Execs
Did you know that a 1% decrease in operating costs is equal to a 10% increase in revenue?
Join Brian Klemenhagen, Senior Principal from TripleTree, a research-based investment banking firm, for this highly informative complimentary webcast on how spend management best practices can improve the profitability of your company.
Sign up to view the pre-recorded webcast now using the form on the right.
More than $500 billion in annual profits are lost each year because companies fail to organize and analyze spend data and implement best practices to capture these lost savings. In fact, less than 20% of organizations fully utilize spend management best practices.
Despite these startling statistics, spend management practices offer companies one of the best, but least known paths to improved profitability. New technologies, especially today’s “on-demand,” web-based solutions are driving the ability for companies to analyze, organize and act upon spend data to eliminate unnecessary costs.
In this webcast, Brian will share research results from his recent studies on spend management best practices and Software as a Service (SaaS) technology. You’ll learn:
- How on-demand, SaaS is changing the rules of the game
- Why spend management offers the least known, but best path to profitability improvements
- What is driving spend management practices
- Spend management key disciplines—where to start
- Challenges that may impede long term spend management success
Expense Control with ExpenseWatch.com
ExpenseWatch.com is a complete Web-based subscription service that gives small-to-midsized companies comprehensive tools to control and reduce operating expenses.
Customers can automate specific expense areas with best-of-breed modules for Expense Reports, Purchasing and AP Invoice Management. Together the modules provide a fully integrated foundation for complete operating expense control. With spend policy compliance automated companies can more easily control and reduce employee spending. The service provides real-time visibility and embedded controls over how a business spends its money, no matter where in the life of a transaction that expense is occurring.
The software-as-a-service, on-demand technology platform allows small-to-midsized companies to affordably control all operating expenses for the first time. The intuitive interface reduces the time to implement and increases user adoption of the service. The subscription based pricing includes implementation, training, support and upgrades. There are no additional hardware or software costs and no hidden charges. Because of the low cost of entry afforded by the on-demand platform, the risks to organizations are minimized.
Travel Expense Reports
Because travel and entertainment is often the second largest expense area for organizations, it is one of the first places companies look to control costs. Companies with traditional paper-based expense reporting systems have difficulty controlling travel expenses.
ExpenseWatch.com controls and reduces travel and entertainment expenses, and streamlines expense reporting across your entire organization. The online expense reporting system provides easy expense report creation, robust credit card management, automatic approval routing and escalation, visibility into spending, and travel expense analysis and reporting. ExpenseWatch.com’s travel expense software makes expense report processing run efficiently throughout your company.
Online Purchasing System
Companies with traditional paper-based purchasing systems often have difficulty making strategic and timely purchases and holding suppliers accountable for transactions. Employee purchases frequently deviate from company spending policy, leading to lengthy order fulfillment cycles and over or duplicate spending.
ExpenseWatch.com automates the entire purchase-to-pay process, providing a nearly paperless purchasing automation system. Requisitions and purchase orders are easily created using the online purchasing software, with company spending policies applied at the time they are created. Automated approval routing and escalation streamline eprocurement, and reporting provides insights into budget vs. actual spending, open and accrued PO tracking, transaction management, and more.
AP Invoice Management
Most companies process hundreds, if not thousands, of invoices every month. ExpenseWatch.com offers an online invoice processing system for managing this paper-intensive process.
ExpenseWatch.com AP Invoice Management automates accounts payable procedures and ensures that invoices are matched to purchase orders and packing lists, eliminating duplication, over spending and paying for products and services not rendered. With AP Invoice Management, you can easily apply company policies and controls to purchases made with or without purchase orders.
When paper-based invoices are electronically processed through ExpenseWatch.com’s invoice automation system, you gain transactional efficiencies. You know who ordered the products or services, whether the right people approved them and you can attach any supporting documents in the web-based invoice automation system. Download your free Webcast here.
