“Do what you can with what you have. Maximise and leverage what you have really well, before you then start thinking about stepping up”.
“Engage with those operations people upfront and understand those pain points that they have and how it relates to collecting revenue or improving the finance side”.
– Laurel Grey, National Manager, Digital Advisory at RSM Australia
“Do your research and touch as many systems as you can. If you’re doing an expense management system, do a demo with sales. People would love to talk to you to show you the product. But don’t waste their time. Don’t be rude or dismissive. Be really interested. And, if it’s not a fit, feel free to say ‘This is not a fit, but thanks'”.
Today I’m sharing a panel discussion from the Weel CFO Summit ‘23.
This discussion covered key considerations for finance technology procurement strategies, including expense management solutions, revenue collection processes, and spreadsheet vs. reporting apps. The panellists provided advice on touching multiple solutions, negotiating pricing, and engaging stakeholders to understand pain points and maximise existing tools.
The topic was Finance Technology ROI 2023: Where to invest?
The panel participants were:
In this episode, we talk about . . .
- The typical procurement strategies
- The key elements to developing a procurement strategy.
- Challenges in the B2B market.
- Procurement process for larger purchases.
- Navigating step-up costs as part of a procurement strategy.
- The state of the fragmented expense management space.
- How painful is the expense reimbursement process in your business?
- Challenges businesses face when implementing expense management solutions.
- The Magic Change Management Playbook.
- How to convince the board to make a change