What We're Reading This Month
We’re here to help you make your business spending more strategic, intelligent, and connected. Stay up to date and on track with recent insights from small business experts and fintech thought leaders.
Why CFOs Need a Bigger Role in Business Transformations
Ryan Davies and Douglas Huey, McKinsey & Company | @McKinsey
Involving CFOs early, and deeply, in company strategy can lead to significant earnings and performance improvements—as much as 25 percent or more.
“When transformations are planned, it’s important that CFOs step up to play a broader role, one that includes modeling of desired mindsets and behaviors in transforming the finance function itself.”
Four Ways Small Businesses Can Improve Cash Flow Management for Long-Term Success
Christal Bemont, Concur | @ChristalBemont
Successful businesses have a strong understanding of when, where, and how money enters and exits a business.
“Data equips small businesses to make smart investments, cut costs and keep things running smoothly. However, if expense and AP data is spread across multiple sources and locations, the chances for outdated information and errors increase.”
To be more strategic about budgeting, it’s important to understand the common objections to doing it at all.
“Since imposing budgets unilaterally is profoundly demotivating, most budgeting processes involve negotiation. And as part of that negotiation one party is attempting to have revenue and profit targets set as low as possible, and cost budgets as high as possible—the exact opposite of what you would want if your goal is to drive better performance.”
Is business travel on its way to becoming completely automated? Here are some ways it could happen.
“Business travellers will be more diversified in terms of nationality, age and gender, and—combined with the greater flexibility of the gig economy—many norms will fall by the wayside. Generation Y will pave the way for ubiquitous digital connectivity.”
It’s more important than ever to choose an agency that prioritizes technology, from mobile features to automated notifications and real-time data.
“An effective corporate travel agency uses advanced technology to center solutions around end users—the employee who is traveling and the manager in charge of travel and expenses. Mobile access is key to achieving this goal.”
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