IT Brief Australia logo
Technology news for Australia's largest enterprises
Story image

How to overcome data blind spots in travel & expense management

By Julia Gabel
Mon 24 Apr 2017
FYI, this story is more than a year old

Getting productive business insights into travel and expense management can be challenging enough without disconnected systems presenting fragmented information and inaccurate reports to decision-makers.

But, according to Concur, by collecting, storing, and analysing data collated in an enterprise-wide strategy, businesses can gain actionable business insights.

Concur is a company that provides business and travel expense management services to other businesses. The company has offices around the world, including Melbourne and Sydney. 

Concur states that with an enterprise-wide strategy, businesses can identify new opportunities and set clear priorities to achieve business and financial outcomes.

Matt Goss, managing director, Concur, says, “organisations are collecting amounts of data so large in volume that it can seem impossible to discover how it can deliver insightful information to achieve business objectives.”

Concur says that data blind spots can occur when internal travel and expense management (TEM) systems don’t allow for easy monitoring and measurement.

According to Concur, organisations may fail to notice if employee expenses are becoming unreasonable if privately-developed solutions are not fully integrated with internal or external data sets.

Using technology, including mobile expense management systems and automated solutions, CFOs can have complete visibility and control over money coming in and out of the business, says Concur.

Concur has identified three things businesses need to be aware of when tackling big data:

1. Type of data collected

Due to the vast amount of data available to be collected, organisations must decide what types of data the business is collecting and why, to ensure leaders get the most appropriate information and the data serves a specific purpose.

Goss says, “Data sets containing incomplete or missing information may result in incorrect conclusions. Context for how, when, and why organisations collect data will assist in interpreting the data more accurately and improve business decision-making.”

2. Analysing data

The term ‘big data’ is no coincidence. A huge amount of data is collected and stored by businesses, generated by its customers, employees, and supply chains.

While using technology, users are constantly creating and receiving data, making it overwhelming for businesses without the correct tools to manage, organise, and analyse the data to gain recent, actionable results.

It is imperative for businesses to ensure the data gathered from their systems is being correctly interpreted in order to get useful results.

Goss comments, “Business leaders should sit down with data analysts so that both parties can understand what the analysis project entails. Business leaders should share their goals and expectations for the project, while the analysts should explain the different methods available to extract the insights required."

"Frequent collaboration can ensure business objectives are being met and can yield exciting and unexpected results, including cost savings and efficiency gains.”

3. Caring for data collected

Keeping the data of its consumers, employees and suppliers safe should be a high priority for any business. For those using data collection methods, transparency and security laws mean it is critical to treat data with extreme care.

“Businesses must ensure the tools used to store and analyse the data are secure, up-to-date, and regularly serviced by a professional,” Goss adds.

“Big data is an exciting possibility that can offer many insights. Patterns found in data can help organisations to mitigate risk, improve customer service, and widen profit margins by understanding what drives consumers and business revenue.”

Goss concludes, “while big data is not limitless or perfect, it does let businesses make smarter decisions based on facts supplied by their own customers, suppliers, and employees.”

Related stories
Top stories
Story image
trust
9/10 Aussies to stop spending if personal data compromised
"Based on the patterns we are seeing among Australian consumers, it is evident that trust in a brand is exceptionally important."
Story image
Artificial Intelligence
AI-based email security platform Abnormal Security valued at $4B
"A new breed of cybersecurity solutions that leverage AI is required to change the game and stop the rising threat of sophisticated and targeted email attacks."
Story image
CRM
Zendesk announces new conversational CRM solutions
“The last few years have made it obvious that digital is the front door, convenience is paramount and relationships are anchored in conversations."
Story image
Workato
Workato unveils enhancements to enterprise automation platform
"The extra layer of protection with EKM, zero-logging, and hourly key rotation gives customers a lot more visibility and control over more sensitive data."
Story image
Tech job moves
Tech job moves - Datacom, Micro Focus, SnapLogic and VMware
We round up all job appointments from May 6-12, 2022, in one place to keep you updated with the latest from across the tech industries.
Story image
Alteryx
Decision Inc. Australia enters partnership with Alteryx
Independent data and analytics consultancy Decision Inc. Australia has partnered with automated analytics company Alteryx, expanding its offering to clients.
Story image
Safety
Voxel hits total funding of $18M following ongoing wins
Since raising its seed round in September, Voxel has grown at pace, by decreasing on-site injuries by upwards of 80% and increasing operational productivity.
Story image
Artificial Intelligence
ANU and Seeing Machines to use AI to improve driver safety
The Australian National University and Seeing Machines have won a grant to develop AI systems monitor human behaviour while driving.
Story image
Application Security
What are the DDoS attack trend predictions for 2022?
Mitigation and recovery are vital to ensuring brand reputation remains solid in the face of a Distributed Denial of Service (DDoS) attack and that business growth and innovation can continue.
Story image
Artificial Intelligence
Updates from Google Workspace set to ease hybrid working troubles
Google Workspace has announced a variety of new features which will utilise Google AI capabilities to help make hybrid working situations more efficient and effective.
Story image
Digital Transformation
Unlocking the next digital frontier for educational institutions
Understanding where to invest in technology can be challenging for education institutions, especially after the COVID-19 disruptions.
Story image
Telstra
Telstra, Google and Accenture launch 5G AR experience for AFL
Telstra, Google and Accenture are developing a new 5G powered augmented reality (AR) experience at Melbourne's Marvel Stadium for the footy season.
Story image
Cybersecurity
A10 Networks finds over 15 million DDoS weapons in 2021
A10 Networks notes that in the 2H 2021 reporting period, its security research team tracked more than 15.4 million Distributed Denial-of-Service (DDoS) weapons.
Darktrace
Threat actors are exploiting weaknesses in interconnected IT/OT ecosystems. Darktrace illuminates your entire business and takes targeted action to stop emerging attacks.
Link image
Story image
Excel
Could your Excel practices be harming your business?
While Excel has been the de-facto standard for budgeting, planning, and forecasting, is it alone, enough to support organisations in the global marketplace that’s facing rapid changes due to digital transformation?
Story image
Cybersecurity
Managed service providers: effective scoping to avoid costly vendor pitfalls
Managed security services are outsourced services focusing on the security and resilience of business networks.
Story image
Talend
Talend introduces new data health solutions for businesses
Talend has announced its latest version of Talend Data Fabric, with the release of Talend Trust Score enabling data teams to establish a foundation for data health.
Story image
Wasabi Technologies
Wasabi opens new cloud storage in Australia with Equinix
Wasabi Technologies has opened a new hot cloud storage region in Sydney, Australia, using Equinix services. This is the company's 12th global storage region.
Story image
Remote Working
IT teams deploy powerful technologies to enable remote work
"We found that IT teams mastered the challenges of remote work last year in large part by employing powerful yet easy-to-use technologies."
Softiron
For every 10PB of storage run on HyperDrive vs. comparable alternatives, an estimated 6,656 tonnes of CO₂ are saved by reduced energy consumption alone over its lifespan. That’s the equivalent of taking nearly 1,500 cars off the road for a year.
Link image
Story image
Ivanti
Ivanti and Lookout bring zero trust security to hybrid work
Ivanti and Lookout have joined forces to help organisations accelerate cloud adoption and mature their zero trust security posture in the everywhere workplace.
Story image
Fortinet
Fortinet's Security Fabric hits new record for integrations
The Fortinet Security Fabric has surpassed 500 technology integrations with more than 300 Fabric-Ready Technology Alliance Partners.
Story image
SaaS
Cloudflare launches instant serverless database for dev teams
"Today we’re announcing our first serverless database which we expect will quickly become one of the largest databases in the world."
Story image
Cybersecurity
The 'A-B-C' of effective application security
Software applications have been a key tool for businesses for decades, but the way they are designed and operated has changed during the past few years.
Story image
Sustainability
Power at the edge: the role of data centers in sustainability
The Singaporean moratorium on new data center projects was recently lifted, with one of the conditions being an increased focus on power efficiency and sustainability.
Story image
Ransomware
Cybersecurity starts with education
In 2021, 80% of Australian organisations responding to the Sophos State of Ransomware study reported being hit by ransomware. 
Story image
Public Cloud
Cloud adoption still a work in progress, NetApp finds
NetApp has announced the results of the annual Cloud Infrastructure Report based on a survey of public cloud business and IT decision makers.
Story image
Phishing
Google reveals new safety and security measures for users
Google's new measures include automatic two step verification, virtual cards and making it easier to remove contact information on Google Search results.
Exabeam
Find out how a behavioural analytics-driven approach can transform security operations with the new Exabeam commissioned Forrester study.
Link image
Story image
Cybersecurity
Hard numbers: Why ambiguity in cybersecurity no longer adds up
As cybersecurity costs and risks continue to escalate, CEOs continue to struggle with what their investment in cyber protection buys. Getting rid of ambiguity becomes necessary.
Story image
SaaS
Absolute Software expands Secure Access product offering
Absolute Software is enhancing its Secure Access product portfolio, enabling minimised risk exposure and optimised user experiences in the hybrid working environment.
Story image
Cybersecurity
Video: 10 Minute IT Jams - An update from IronNet
Michael Ehrlich joins us today to discuss the history of IronNet and the crucial role the company plays in the cyber defence space.
Story image
Microsoft
SAS Viya on Microsoft Azure to deliver 204% return - study
The Forrester Total Economic Impact study finds SAS Viya on Microsoft Azure brings a 204% return on investment over three years.
Story image
Data Center
Preventing downtime costs and damage with Distributed Infrastructure Management
Distributed Infrastructure Management (DIM) can often be a lifeline for many enterprises that work with highly critical ICT infrastructure and power sources.
Story image
Sustainability
Siemens showcases new automated solutions for data centers
Siemens has implemented new automated solutions and AI in the Baltic region's largest data center, providing insight into the future of data center management.
Story image
Sift
Sift shares crucial advice for preventing serious ATO breaches
Are you or your business struggling with Account Takeover Fraud (ATO)? One of the latest ebooks from Sift can provide readers with the tools and expertise to help launch them into the new era of account security.
Story image
Artificial Intelligence
Clear Dynamics closes $35M funding round, invests in global growth
The funding is a major milestone and speaks to Clear Dynamics’ vision for AI-enabled ‘composable’ enterprise software, the company states.
Story image
Artificial Intelligence
SAS unveils AI experience to improve kids' batting abilities
SAS has created The Batting Lab, an interactive experience using AI, computer vision and IoT analytics to help kids improve their baseball and softball swings.
Story image
BeyondTrust
BeyondTrust integrates Password Safe solution with SailPoint
BeyondTrust has announced the integration of BeyondTrust Password Safe with SailPoint identity security offerings.
Story image
Sustainability
Grasping the opportunity to rethink the metrics of a sustainable data centre
A data centre traditionally has two distinct operations teams: the Facility Operations team, and the IT Operations team. Collaboration between them is the key to defining, measuring, and delivering long-term efficiency and sustainability improvements.
Story image
Hawaiki Cable
BW Digital completes acquisition of Hawaiki Submarine Cable
BW Digital has completed its full acquisition of Hawaiki Submarine Cable, with all applicable regulatory filings and approvals now received.
Story image
PaaS
New digital traffic light system to tackle construction defects
Smarter Defects Management launches its PaaS digital system and says it will revolutionise managing defects in the construction industry.
Story image
Manufacturing
HINDSITE wins Aerospace Xelerated Pitch Challenge with solution to support Boeing
Brisbane-based startup HINDSITE was the winner of the first ever Pitch Challenge organised by Aerospace Xelerated in partnership with Queensland XR Hub. 
Story image
Mobility
Hands-on review: STM laptop bags
The advent of hybrid working has meant we need laptop bags. We got our hands on two of the most popular laptop bags from STM.