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

A/NZ companies stuck in the past & using unreliable invoicing methods

By Sam Worthington
Wed 14 Dec 2016
FYI, this story is more than a year old

A significant percentage of companies in Australia and New Zealand are still using traditional, unreliable, paper-based methods.

That’s according to the 2016 Concur ANZ spend management index that looks into how A/NZ companies manage business expenses and supplier invoicing.

A total of 100 senior finance and management decision makers were surveyed from a variety of industries, including financial services, retail, food, transport, insurance, utilities, resources, entertainment and other professional services. 

Just over 56% of those surveyed mentioned that better visibility of corporate spending is somewhat important to them, compared to just 26% in 2015.

However, the adoption of automated expense systems to achieve this greater visibility isn’t the same.

Concur found that 35% of organisations are still using paper-based expense reports, up from 27% the previous year.   

Matt Goss, managing director for A/NZ at Concur, says that by consistently and accurately monitoring expenditure companies will be able to tell if the policies are appropriate and working effectively.

“Also, it’s essential to have a complete view of expenditure to manage cash flow effectively,” he explains.

“This means adopting specific policies and being able to enforce them in a timely way. Knowing who, in an organisation, is authorised to make purchasing decisions is just the first step.”

Goss adds that policies also need to incorporate budget limits for authorised employees, preferred payment methods such as company credit card versus personal debit card, and types of acceptable expenditure.

“For example, paying for meals while employees are travelling for work may be acceptable, while paying for alcohol during those meals may not be,” he says. “In 35% of organisations, expense reports are paper-based, with printed receipts and photocopies. A further eight per cent of organisations use standalone spreadsheets to monitor expenses, and five per cent just check the corporate credit card bill.”

Goss explains that these methods create extra, manual work, and increase the potential for errors.

“Employees can easily get reimbursed for out-of-policy spending, whether intentionally or accidentally, when expense management methods rely on manual checks,” he says.

“Businesses that can effectively analyse all expenditure across the organisation can identify trends and patterns that can inform policymaking, which ultimately can lead to additional cost savings.” 

Related stories
Top stories
Story image
LG Electronics
LG Electronics brings on Aussie AV distributor Alloys
LG Electronics Australia Business Solutions has appointed Australian AV distributor Alloys as a new distribution partner.
Story image
Energy
Sustainability huge factor for APAC data centre managers
A new report reveals that 85% of data centre managers in APAC believe that sustainability will significantly impact operations and decision making.
Story image
Pegasystems
Marketing technologies set to increase revenues - study
Marketing leaders say that investment in new marketing technologies (MarTech) will drive significantly increased revenues.
Story image
Equinix
Aussie businesses buckle down on digital tech investments
Australian businesses are planning major investments in digital technologies to support ambitious expansion plans.
Story image
Artificial Intelligence
Salesforce announces new innovations for financial services
Salesforce has launched expanded financial services that offer more targeted and trusted automation to help teams unlock insights, deliver better customer service, and drive operational efficiencies.
Story image
Document Management
NZ's FileInvite raises $10M in latest investment round
FileInvite has raised $10 million in Series A investment to fast-forward the extinction of email for requesting and collecting documents online.
Story image
ABI Research
NaaS market expected to reach $150B by 2030 - research
"The market is immature and fragmented, but telco market revenue will exceed US$75 billion by 2030 if they act now and transform to align with requirements."
Story image
Cybersecurity
Delinea’s Joseph Carson recognised with OnCon Icon Award
Delinea chief security scientist and advisory CISO Joseph Carson has been recognised as a Top 50 Information Security Professional in the 2022 OnCon Icon Awards.
PwC
WSLHD and PwC’s Consulting Business came together to solve through the challenges of COVID-19. A model of care was developed to the NSW Health Agency for Clinical Innovation guidelines with new technology platforms and an entirely new workforce.
Link image
Story image
ASI Solutions
Western Australia CUA panel picks ASI as preferred supplier
Western Australia's Common User Arrangement (CUA) panel has chosen ASI Solutions as a preferred supplier for device hardware.
Story image
Data Protection
Five signs your business is ready to move to the cloud
Many organisations are thinking about moving to the cloud. But what are the signs you are ready, and what are the reasons to move?
Digital Transformation
Discover the 5 signs your business is ready for a cloud-based ERP. Is your business being left behind as more of your competitors switch to the cloud?
Link image
Story image
Apple
Your tools, your choice: why allow employees to choose their own devices?
Jamf Australia says giving your team the freedom to work with their digital device of choice could help to attract and retain top talent in a tight labour market.
Story image
Low-code
Appian unveils low-code certification program in Australia
Appian has announced a program to provide the next generation of low-code developers with access to education on the subject and certification to foster career opportunities.
Story image
Airwallex
How Airwallex helps businesses achieve globalisation success
As markets continue to shift, businesses need to be able to provide the same quality of service for customers regardless of where they are located around the world.
Story image
Enterprise Resource Planning / ERP
Five ways your ERP is letting you down and why it's time for a change
Wiise explains while moving to a new system may seem daunting, the truth is that legacy systems could be holding your business back.
Story image
Microsoft
Elders signs five-year agreement with Microsoft to boost innovation
Australian agribusiness Elders has signed a five-year agreement with Microsoft that looks to transform its customer experience, efficiency and sustainability outcomes.
PwC
PwC's Consulting Business and PwC's Indigenous Consulting are proud to play an important role in helping Australian Indigenous Mentoring Experience build IMAGI-NATION, a free online university for marginalised communities around the world.
Link image
Story image
Ransomware
Examining the future of ransomware threats with Vectra’s CTO
As customers' valuable data move to the cloud, so will ransomware. What is the current landscape and what do we need to know?
Story image
Capital
Rubber Monkey gears up for Aussie market with latest capital raise
Rubber Monkey is seeking to raise up to NZ$2.5 million of new capital through online investment platform, Snowball Effect.
Story image
Artificial Intelligence
Siemens expands NVIDIA partnership for industrial metaverse
Siemens is expanding its partnership with NVIDIA to enable the industrial metaverse and increase the use of AI-driven digital twin technology.
Story image
Telecommunications
WiFi as a Service market to reach $26 billion through 2032
As a result of the easy management of wireless infrastructure over cloud services, WaaS is experiencing rapid growth.
Story image
Digital Transformation
Munro Footwear Group chooses Boomi to assist with digitisation strategy
Munro Footwear Group (MFG) has selected Boomi to assist with its eCommerce and digital transformation roadmap goals.
Supply chain
Discover the 4 critical priorities for wholesale distribution businesses in FY23. Are you worried about how supply chain issues may affect your business in 2023?
Link image
Story image
Artificial Intelligence
Decision Inc. partners with provenio.ai to expand offering
Decision Inc. Australia has partnered with provenio.ai to expand its offering to clients in the retail, FMCG, manufacturing, supply chain and logistics sectors.
Story image
Payroll
How New South Wales state departments achieved cloud migration success
State departments in New South Wales are heading to the cloud to achieve better workflow solutions, and one company is paving the way for their success.
Story image
Metaverse
How the metaverse will change the future of the supply chain
The metaverse is set to significantly change the way we live and work, so what problems can it solve in supply chain management?
Story image
Infrastructure
Video: 10 Minute IT Jams - An update from Paessler
Sebastian Krüger joins us today to discuss how unified infrastructure monitoring enables MSPs to seamlessly deliver services to their clients.
Story image
Malware
Colt launches new SASE Gateway solution with Versa
Colt Technology Services’ customers now have access to an integrated full SASE solution that brings together SD WAN and SSE features.
Story image
Wiise
Four things wholesale distributors need to consider for FY2023
In a post-pandemic world, there are many things for a distribution business to juggle. ERP solutions company Wiise narrows down what companies should focus on.
Story image
Adobe
Marketplacer and Adobe accelerate partnership for enhanced commerce solutions
Marketplacer has accelerated its partnership with Adobe in order to further enhance the global commerce marketplace.
Story image
Cybersecurity
Tech and data’s role in the changing face of compliance
Accenture's study found that 93% of respondents agree or strongly agree new technologies such as AI and cloud make compliance easier.
Story image
CSG
To win at 5G, telcos must tame their quoting chaos
The catalogs of CSP (communication service providers) market offerings are set to explode as new digital services emerge, powered by B2B2X business models.
Story image
Media
Registrations for the W.Media Sydney Cloud and Datacenter Convention 2022 now open
Are you a C-Level executive looking to enhance your knowledge in the cloud and data center space in order to get the best results for your company?
Story image
Cloud
BT builds on Equinix partnership with new cloud offering
BT has launched a next-generation cloud connectivity offering extending its global network into strategic carrier-neutral facilities (CNFs) and building on its existing partnership with Equinix.
Story image
Accounting
Four factors to consider when choosing the right job accounting solution
Progressive job-based businesses can achieve success by strengthening their ability to quantify every cost attributable to the delivery of an outcome for a customer.
Story image
Cybersecurity
Without trust, your security team is dead in the water
The rise of cyberattacks has increased the need for sound security that works across any type of business, but with any change, buy-in is essential. Airwallex explains why.
Story image
Document Management
Regaining digital trust and enhancing digitisation in Australian Government agencies
Having a digitised ecosystem of documents, tools and data can help bolster security, improve workflow and ultimately create better services.
Story image
Amazon
What brands can expect from Amazon Prime Day in Australia
Amazon Prime Day is the annual two-day shopping event, kicking off this year from July 12-13 and is the global online shopping platform's biggest sales event. 
Story image
Samsung
Monitors are an excellent incentive for getting employees back
The pandemic has taught us that hybrid working is a lot easier than we would’ve thought, so how can the office be made to feel as comfortable as home? The answer could be staring you in the face right now.
Project management
Discover the 4 crucial factors for choosing the right job-costing solution. Is your team struggling to cost jobs and keep projects running on budget?
Link image
Productivity
Discover the 5 ways your ERP may be letting you down. Is your current system outdated, difficult to manage, and costing you a fortune?
Link image
Story image
AGVs
Bridgestone Australia uses Dematic's AGVs to optimise warehouse operations
Bridgestone Australia has deployed Dematic's Automated Guided Vehicle solution across its new Melbourne warehouse in Truganina.
Story image
Artificial Intelligence
Accenture shares the benefits of supply chain visibility
It's clear that gaining better visibility into the supply chain will help organisations avoid excess costs, inefficiencies, and complexity to ultimately improve their bottom line.