Feb. 24, 2022 | 2:00 PM EST
Today, many organizations are using manual/inefficient methodologies for monitoring spend risk allowing things to slip through the cracks.
Reallocating resources to fill other roles while asking teams to do "more with less" is a new reality in the workforce. Typically, finance leaders have been slower to adopt newer technology, such as AI and robotics, to identify data-entry errors, unusual spend, and possibly fraudulent transactions.
By identifying errors, workflow breakdowns, and other spend issues earlier, technology can minimize manual efforts, maximize audit efficiency, eliminate cash leakage, and create an overall culture of compliance.