Under Pressure: Operational Challenges for Finance Teams
We asked 250+ finance professionals about their current business spend & expense management process. See insights on hiring, productivity, technology and more.
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What's in the Report?
Finance professionals are frustrated by how much time the expense process takes
The majority of time is spent on processing invoices and expenses
74% respondents think their expense process needs help
40% examine each expense report individually, while less than 20% use auditing software
Nearly half (45%) of finance teams still use spreadsheets as part of their process, and 43% exclusively use spreadsheets to manage expenses
Survey respondents want to spend more time on process improvements, strategy and planning, and collaboration across departments
Mid-size companies feel the pain more acutely than their smaller or larger counterparts
Frontline roles like Controller, Accounting and Procurement want better processes
Most respondents would hire staff to help manage expenses if they had budget
Center helps finance teams radically reduce the time they spend on manual, resource-intensive operations like expense management so they can fully optimize business spending and achieve more. Center SpendOps Suite is a complete corporate card and expense solution that includes CenterCard® Visa® Business Debit and AI-Powered Expensing, Audit, and Insights. Learn more about Center.