Convincing your CFO of the need for an automated T&E process
Are you addicted to being busy? As an on-demand generation with more smart technology and productivity tools at our fingertips than ever before, it’s amazing that we still struggle to find the time that we feel we need to make stuff happen. Both in our personal and professional lives.
So why is this?
The truth is, technological innovation is a double-edged sword. As it speeds up productivity and results in the workplace, it also increases competition. The very tools that enable us to free up time and resources also spawn the need for this extra time to be spent on innovation in order to compete. It’s the digital age’s survival of the fittest.
Which leads us to this advice for smart businesses today:
When growing teams, allocating budgets and researching new tools and technologies, think beyond revenues, ARR/ MRR and spreadsheets, and instead ask yourself this:
In most cases, the answer to all of the above is a resounding YES. But is it really that simple? Surely we all still need to spend time on the more mundane, administrative tasks that keep our businesses ticking over? That is the where the real power of the advances in real-time, on demand technology kicks in.
Real-time technology, automation and productivity tools are already fostering and facilitating innovation in enterprise worldwide. The likelihood is that you already use many of these, but they have become such an integral part of your working life that you no longer monitor their benefits or remember working life without them.
Communication and file-sharing tools are a solid example of this. Slack, Skype, Google Drive and Dropbox are all must-haves that enable teams to talk, share and edit files and reports in real-time anywhere in the world.
From a financial point of view, other examples of seamless automation include accountancy platforms such as Xero and expense management tools such as Rydoo that enable you to effortlessly manage your business finances and expenses in real-time.
These are all examples of how you can, and probably already are, automating the day-to-day running of your business. And yes, there are of course other ways to measure ROI and successes here. Platforms like Xero and Rydoo will save your business money. And tools like Slack and GDrive mean that we can all work faster and smarter together.
But, if you look back to working life before this technology, you will see that the real ROI created by this automation is your time.
You no longer have to wait until the end of the month or quarter to review your company finances, cut costs or go for that round of investment. You no longer have to wait for different versions of files and documents to be shared back and forth before submitting that business-critical pitch.
This frees up your resources to focus on innovation, productivity and driving your business forwards, based on real-time data and insights. Which brings us to the most transformative output of all of this real-time technology- the power of data.
A lot has been said about data in the past couple of years. Data analysts, boffins and geeks are in high-demand and proliferate throughout our companies. Perhaps you’re one of them. Either way, the chances are that you now work with data in some form, no matter what department you’re in- finance or marketing, product or sales.
The ability to collect, analyse and interpret data in real-time has transformed business. We can now see exactly where our customers are coming from, how they’re engaging with us and how to reach them. We can accurately forecast payback periods, calculate customer LTV, analyse expense patterns and much more.
This new wealth of data enables us to think faster, work smarter and focus more on innovation. So the next time you sit down to analyse the ROI of all of your software, integrations and service providers and plan for future investment- remember. Time is your most valuable commodity in today’s competitive market. Use it wisely.
Today Rydoo is exactly one year old! A lot of things have happened since our new company saw the light on June 5th one year ago. Time for a quick recap.
You might not think about medical equipment a lot, but to some people it can mean the world. Nipro is one of the world’s leading companies manufacturing, selling and shipping dialysis machines, and as a truly global company it has offices across the world — from Japan to Norway and South Africa to the US.
Vivatech 2019 was a blast. With over 120.000 attendees, 13.000 start-ups and 2.500 journalists present, the tech meet-up of the year in France is starting to take the proportions of a sizeable rock festival. Selecting some of the most promising start-ups in the realm of "employee mobility" was a tough mission, but we managed. Here's the final list of our nominees.