Expense management solutions have evolved from mere reporting tools taking advantage of advances in automation, cloud computing, mobility, analytics and artificial intelligence.

It is difficult to imagine organizations still using manual systems and processes, although FutureCFO roundtable discussions have revealed such practices to continue. But organizations are moving forward driven by the need to mitigate losses associated with expense frauds and wasted time. The pace of adoption and change, however, still needs to keep pace with emerging trends in the industry.

According to Technavio analysts, the travel and expense management (T&E) software market will grow at a CAGR of 12% (forecast period 2019 – 2023).

Organizations are taking advantage of digital transformation initiatives, the shift of ERP systems to the cloud, redesign of enterprise software to be more user-centric, and recognition that the best solutions for the company do not always come from traditional channels.

This survey is comprised of two segments, one designed for the finance and business teams, and the other for the IT team. The purpose is to identify pain points and challenges in the use of current T&E approaches. A summary of the findings and learnings from the survey will be shared with all participants.

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* 1. Is your organization's headquarters based in Hong Kong?

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* 2. How do you process Corporate Spend (Employee Expense & Vendor Invoices) in your organization? (choose all that apply)

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* 3. What are your Top 3 challenges/gaps in managing corporate spend?

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* 4. How satisfied are you with the corporate spend management process/system?

(Please assess level of satisfaction for each aspect, on a scale from 1-5, where 1 = very dissatisfied and 5 = very satisfied):

  Very dissatisfied Dissatisfied Neutral Satisfied Very satisfied N/A
Processing Efficiency (e.g. workload in auditing and processing expense claims & vendor invoices)
Employee Satisfaction (e.g. Easy claim process, user-friendly application)
Cost Control (e.g. proper approval before or after spend, exceptions detection, spend visibility)
Corporate Policy Compliance (e.g. ability to enforce spend policies, uncover duplicated or improper claims or invoices)
Regulatory Compliance (e.g. anti-bribery, anti-corruption, GDPR)
Mobility (e.g. request & approve spend any time with mobile devices with receipt & Invoice image capture capability)
Business intelligence (e.g. granular analysis on how money is spent, search for cost reduction opportunities)

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* 5. Please select the top 3 benefits that you would expect to improve your current corporate spend management or process.

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* 6. Would you like to receive best practice information on managing corporate spend and have free consultation with spend management expert?

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* 7. To receive a copy of the survey findings and Starbucks gift card, please provide your contact information. FutureCFO and CXOCIETY are committed to observing the privacy of our subscribers and readers. Only the aggregated data will be used to develop an analysis and opinion. No user data will be divulged or shared with anyone.

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