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.
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 SafePC Solutions
SafePC Solutions is a leading Information Technology provider focused on application development, cloud computing, and IT security compliance related to the NIST Framework and CMMC.
Our focus areas are solving some of the most challenging IT problems, and creating solutions that improve our clients' Return on Investment (ROI). Over the past few years, we have made the SafePC Cloud division which focuses on data-backup solutions that involve developing a strategy for multi-cloud hybrid solutions. We also have created the SafePC EdTech division to provide IT training and Microsoft-related certifications to bridge the digital divide among women and minorities.
SafePC Solutions is a member of the Cybersecurity Tech Accord, and we are required to set up the Coordinated Vulnerability Disclosure (CVD)
Sign in with LinkedIn