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.
Read More
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 Associated Business Consultants Rwanda Ltd
ABC-Rwanda Ltd.’s vision is to be the premier provider of world class Enterprise Application Software and Business Process Outsourcing with a rich history of innovation to small and medium size businesses in the region by addressing the needs of this market while, at the same time, reducing the total cost of ownership.
Sign in with LinkedIn