The global economy is expected to shrink or show stagnating growth in the near term as lingering effects of the COVID-19 pandemic continue to impact the world’s population and business environment. Estimates of the contraction in global GDP and cumulative output losses during 2020 and 2021, make clear that organizations looking to better manage the crisis would do well to ensure they are operating the soundest financial footing possible.
A recent survey conducted by SAP Concur and The Economist Group discovered the following:
The call for smarter spend management is only growing stronger, highlighting a need for tools such as sophisticated expense management software that can strengthen a company’s ability to better manage spending by delivering business outcomes in three areas: increased efficiency and productivity, greater visibility into spending, and hardwiring of processes that ensure adherence to spending policies.
Download the report to learn how global executives lean on the deployment of technology to help organizations stay on sound financial footing during the pandemic.