- 14 Jun
Value the Things You Don’t Do: How Simplifying with Nexonia Saves You Money
Every business owner knows time is money.
The reality of manual work is revealed in a recent survey conducted by payment solution provider Conferma. Conferma polled 250 U.S. Chief Financial Officers of companies with 500+ employees to find out how they manage their expense policies and procedures.
They discovered the average annual total cost of managing business expenses is over $1 million—and collectively, $33 billion is lost each year.
What’s at the bottom of this? Outdated, manual expense management systems that restrict the productivity of businesses. The survey revealed the following limitations:
They are Unwieldy
They are Fragmented
They are Bogged Down in Tradition
They are Unwieldy
The survey revealed what we already knew. Inefficiencies are crushing your business and robbing you of a competitive edge.
Generous size may have its advantages, but it has no place in the organization of your accounts. Expense management systems put into practice before the digital age are clumsy at best. Businesses need an agile expense management solution that is as versatile as their company.
This is a big problem. Employees in today’s omnichannel marketplace are using different methods to make payments and claim expenses. Cash, credit cards and checks; in-person, online or via mobile device. No one knows better how complicated your business can be than you do. And when you consider that many companies use a combination of paper, computer spreadsheets and web-based software to manage expenses on the back-end, it’s no wonder details can slip through the cracks.
Simplify with Nexonia
Fortunately, there are solutions available now to help you streamline processes and save costs. Nexonia Expenses is an automated, cloud-based expense reporting solution that digitizes virtually every step of the process. It brings your company’s expense management to the present. Through its user-friendly web interface or mobile app, you and your employees can create, approve and process reports. Consider the outdated process a way of the past. Step into the future, and schedule a demo today. With only money to gain and time to save, what are you waiting for?