Payments and Spend Management
Organizations have traditionally handled the multiple components of payments and spend management in a scattershot manner due to the legacy of paper-based systems used by individual business units. As a result, even when they switch from paper to software, organizations often make siloed technology and process improvements one by one. These decisions limit a business unit’s ability to fully achieve the benefits of the software. Digital transformation efforts in this area therefore miss the opportunity to provide senior executives, including the CFO, with a clearer picture of spending.