Specialist spend management systems, comprising of travel, expense and invoice management, are still a novelty in parts of the public sector, but activity continues to grow. With more advanced solutions and broader understanding regarding the benefits of such tools, the number of frameworks and contracts awarded for spend management solutions increased from 2015 to 2020, not only in volume but in size and complexity of what is delivered to clients.
The relatively small number of specialist contracts in this field across the public sector could be an indication of lack of awareness of the possibilities and existence of spend management tools, taking into consideration that many organisations still rely on inefficient legacy software or paper-based systems for their expenses. Specialist spend management suppliers are coming to market with solutions that bring more efficiency to the day-to-day administration of NHS trusts, universities, councils and central government departments. The advantages of switching for most organisations include:
– A more seamless experience and faster reimbursement for end-users
– Decrease on workload of accounts processing staff
– Higher cost saving from decrease in workload and material resources such as paper and ink for the organisation
– Improvement of compliance with policy of expenses claimed imbedded on the system to mitigate the number of fraudulent claims erroneously approved by managers without due diligence
Download to find out more.