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Seven Steps of Cost Control for Finance – by Improving Employee Experience

Improving the Employee Experience Boosts Your Bottom Line

Finding new sources of competitive advantage can make or break a company’s future – especially in uncertain times. But perhaps you don’t have to look beyond the walls of your own organisation to find it. According to a Gallup study, employers who improve employee engagement realise 17% higher productivity and 20% higher sales.

What exactly does this mean for finance? And how can you, as a finance executive, improve employee engagement, which is typically HR’s focus? By improving the day-to-day experience of employees performing finance-related tasks like expense and invoice management.

There’s never been a better time to re-examine onerous, poorly designed processes that involve keeping track of paper receipts, double-entering data, printing and filling out forms, tracking down approvals, manually matching POs and invoices, and more. Using intelligent automation, you can reinvent how these core finance tasks get done so people can track and manage expenses and travel from anywhere, and review invoices and approve expense reports – all through top-rated mobile apps that flow data right into one system. When employee spend is automatically captured, itemised, and categorised, your finance department wins, too – with employee spend visibility to control costs, forecast cash flow, and ensure spending is focused on what matters most.

No matter how you look at it, improving employee experience is finance’s business. To get started, learn about the seven steps finance should take to get started.

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