Tale of two finance departments infographic:
Concur surveyed members of the Institute of Chartered Accountants in England and Wales (ICAEW) about their use of financial technology. Based on the results, it seems that there are two kinds of finance departments in the UK: those who are leading the financial technology charge and others who are struggling to keep up.
A Tale Of Two
Employees submit and managers
approve expenses electronically,
receipts are captured and stored
online, and exceptions are
caught through automation.
Of those companies who have
not automated their employee
Not a top priority
Not enough resources
to make the change
20%Couldn’t get senior
Solution was missing
43% 13% 13%43% 30%
Of the 48% who had considered expenses automation but didn’t
end up taking a solution on board, what held them back?
While you might think cost was one of the top reasons, culture
and change were even bigger issues. Here’s what these ﬁnancial
leaders said were the reasons they have so far not implemented
an automated expenses management solution:
Doesn’t let employees
on a mobile
Doesn’t give us enough
data into spend
Is time consuming
Not linked to our travel
Too expensive and
Despite the various reasons companies can’t reach a
solution on automation, ﬁnance departments are
struggling with the status quo.
HOW CAN EXPENSES
For the companies who have automated,
here are some of the features they say are the most
common, and the ones you should be looking out for if
you are considering expenses automation.
Ability to book
Automated controls for
travel and/or expense policy
compliance or auditing
Concur thank the ﬁnance professionals
who shared their views in this survey,
and were pleased to support the
Chartered Accountants Benevolent
Association (CABA) with a donation for
each survey completed.
Employees use a a spread-
sheet or similar paper form for
submission and approvals,
with paper receipts attached.
haven’t been able
to give it a thought.
Our employee expenses
process is handled entirely
Our employee expenses
process is entirely or mostly
If you’re struggling to keep up,
you’re not alone. Learn more
about how Concur Travel & Ex-
pense has helped more than 30%
of the FTSE100 companies lead
the technology charge at:
To the question of "Would you describe your
company's current expenses process as being
entirely on paper or entirely automated?"
the results were split right down the middle.
WHICH ONE ARE YOU?
Concur surveyed members
of the Institute of Chartered
Accountants in England and
Wales (ICAEW) about their
use of ﬁnancial technology.
Based on the results, it
seems that there are two
kinds of ﬁnance depart-
ments in the UK: those who
are leading the ﬁnancial
technology charge and
others who are struggling to
Struggling to keep up
*Statistics based on 44 respondents.
* Statistics based on 77 respondents.
*Statistics based on 20 respondents. Multiple responses possible.
*Statistics based on 23 respondents. Multiple responses possible.
*Statistics based on 34 respondents. Multiple responses possible.