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SMBs: Striking a Balance Between Strategic Spending and Cost Control

The effects of the pandemic have been felt by organizations of all sizes. Small and medium-sized businesses (SMBs), in particular, find themselves in a precarious situation as they look for ways to shore up their finances, mitigate unnecessary risks and reduce costs to a minimum. Despite this, a recent survey1 by Aberdeen highlighted a lack of standardised finance policies among businesses with the recent rise of remote work environments.

Efficient expense management, for example, can contribute significantly to maintaining organisational agility amidst the pandemic – a report2 commissioned by SAP Concur found that companies can save up to USD100,000 annually by reducing 10% of time spent on expense claims alone.

What are the options available for SMBs to streamline their finance processes and create a positive impact on their bottom line? How do they strike a balance between making strategic business investments while controlling spending during this period of uncertainty?

Jeremy Gray, Principal (Asia), The CFO Centre, and Mark Wilfred, Head of Solutions Consulting, Southeast Asia, SAP Concur, will cover key finance-related challenges facing SMBs today. Be part of this all-important dialogue and gain insights into how SMBs in Asia Pacific can make strategic financial decisions to gain a better footing heading into the new year.

Some of the key topics to be covered over the discussion include:
• Cost control vs. Strategic investments
• Management techniques for spend control
• Best ways to restructure businesses when necessary
• Best practices for SMBs to manage costs
Recorded Jul 15 2021 49 mins
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Presented by
Mark Wilfred (SAP Concur), Jeremy Gray (CFO Centre Singapore)
Presentation preview: SMBs: Striking a Balance Between Strategic Spending and Cost Control

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  • Scaling to Grow: Leveraging Intelligent Accounts Payable and Expense Automation Sep 28 2021 3:00 am UTC 59 mins
    Mark Wilfred, Head of Solutions Consulting SEA, SAP Concur
    Organisations will need to do more with less while growing the business and remaining agile given the uncertain economic environment ahead. The lack of a comprehensive strategy around Accounts Payable can cost as it impedes your Finance team's ability to see where spend is happening and affects productivity, compliance and staff retention.

    Watch this webinar to learn
    - Capture expense data automatically from different sources and reduce non-compliant spend
    - Capture data automatically from incoming invoices from different sources in different formats and languages (including Bahasa Indonesia, Vietnamese, Thai, Japanese, Simplified & Traditional Chinese and much more)
    - Leverage the configurable workflow engine and matching automation to drive efficiency in the invoice management process
    - Integrate SAP Concur easily with Oracle NetSuite using our native connector for both expense and invoice
  • Scaling to Grow: Leveraging Intelligent Accounts Payable and Expense Automation Recorded: Sep 2 2021 59 mins
    Mark Wilfred, Head of Solutions Consulting SEA, SAP Concur
    Organisations will need to do more with less while growing the business and remaining agile given the uncertain economic environment ahead. The lack of a comprehensive strategy around Accounts Payable can cost as it impedes your Finance team's ability to see where spend is happening and affects productivity, compliance and staff retention.

    Watch this webinar to learn
    - Capture expense data automatically from different sources and reduce non-compliant spend
    - Capture data automatically from incoming invoices from different sources in different formats and languages (including Bahasa Indonesia, Vietnamese, Thai, Japanese, Simplified & Traditional Chinese and much more)
    - Leverage the configurable workflow engine and matching automation to drive efficiency in the invoice management process
    - Integrate SAP Concur easily with Oracle NetSuite using our native connector for both expense and invoice
  • The CxO Perspective: Foresight 2021 – Digital Agenda for a Post-Covid Recovery Recorded: Aug 3 2021 61 mins
    Richard McLean (SAP), Dave Breslin, Krishnan Ramachandran (Hinduja), Mak Chee Kiong (Circles.Life), Ong Kok Chye (Keppel)
    Every part of your business is impacted by ever-changing business landscapes—especially your financial operations. While we are in uncharted waters, the global and the Asia-Pacific economies show positive signs of recovery ahead.

    As you navigate the realities of the Next Normal, COVID-19 has accelerated the urgency to digitalize businesses, and CFOs need to link intelligent finance to ROI and spearhead digital finance. They need to break down silos to allow finance to operate as a more global, cross-functional team, and to anticipate and identify the highest priorities and potential outcomes for the business.

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    • The technologies you need to enable an unprecedented level of finance efficiency
    • How to close the gap that limits accountability and visibility into travel and expense data
    • Reimagining how today’s data-driven organizations work and how to develop a digitally skilled and empowered workforce
  • Reopening the Skies: Get Ready for Safer Business Travel Recorded: Jul 20 2021 61 mins
    Carl Jones (SAP Concur), Conrad Clifford (IATA), Sanghamitra Bose (AMEX), Nicola Winchester (EY), Peter Koh (Corning)
    Even with the COVID-19 pandemic, travel will continue to play an irreplaceable role in meeting critical business demands. However, travellers’ health and safety, and a new era of trip preparation and policies, will be front and center as travel resumes.

    Business travelers and Travel Managers agree that companies are not fully prepared to address the impact of COVID-19 on business travel. Take the time now to revisit your travel and expense policies to ensure that they are properly aligned with current business needs, explore new sources of savings, and evaluate strategies for traveler safety.

    As part of its ongoing The CxO Perspective web series, SAP Concur is hosting a webcast to help organizations better understand how best to prepare their organizations to safely resume business travel.

    Catch the 3rd installment of this series to find out:
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    Evaluating duty of care readiness
  • SMBs: Striking a Balance Between Strategic Spending and Cost Control Recorded: Jul 15 2021 49 mins
    Mark Wilfred (SAP Concur), Jeremy Gray (CFO Centre Singapore)
    The effects of the pandemic have been felt by organizations of all sizes. Small and medium-sized businesses (SMBs), in particular, find themselves in a precarious situation as they look for ways to shore up their finances, mitigate unnecessary risks and reduce costs to a minimum. Despite this, a recent survey1 by Aberdeen highlighted a lack of standardised finance policies among businesses with the recent rise of remote work environments.

    Efficient expense management, for example, can contribute significantly to maintaining organisational agility amidst the pandemic – a report2 commissioned by SAP Concur found that companies can save up to USD100,000 annually by reducing 10% of time spent on expense claims alone.

    What are the options available for SMBs to streamline their finance processes and create a positive impact on their bottom line? How do they strike a balance between making strategic business investments while controlling spending during this period of uncertainty?

    Jeremy Gray, Principal (Asia), The CFO Centre, and Mark Wilfred, Head of Solutions Consulting, Southeast Asia, SAP Concur, will cover key finance-related challenges facing SMBs today. Be part of this all-important dialogue and gain insights into how SMBs in Asia Pacific can make strategic financial decisions to gain a better footing heading into the new year.

    Some of the key topics to be covered over the discussion include:
    • Cost control vs. Strategic investments
    • Management techniques for spend control
    • Best ways to restructure businesses when necessary
    • Best practices for SMBs to manage costs
  • Key Considerations for Enhanced Cashflow Management and Business Continuity Recorded: Jul 6 2021 61 mins
    Andy Watson (SAP), Dave Breslin (SAP Concur) , Dennis Chia (CFO of Starhub Ltd), Saurabh Jain (PwC), Brendon Silver (VAT IT)
    In many ways, COVID-19 presented a perfect storm of cash-flow issues. This pandemic has magnified the importance of incorporating cash flow management as an integral part of a company’s strategic plan.

    Over the past five years, the Asia-Pacific region has shown a slight deterioration in overall Net Working Capital (NWC) performance, according to PwC. In this rapidly evolving business environment, every extra dollar tied up is becoming even more costly and there is an increasing urgency for companies to optimize their working capital.
    As part of its ongoing web series, SAP Concur is partnering with the Association of Corporate Treasurers Singapore (ACTS) to host a webinar to help organizations better understand how to maximize their ability to bridge the cash flow gap.

    Catch Episode 2 of the CXO Perspective to learn how to:
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    • Reclaim VAT to generate cash and reduce operational expenditure
    • Increase controls around approval of supplier and customer payments, monitor cash inflows and outflows
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  • The CFO Perspective #1 - Intelligent Spend Management Recorded: May 4 2021 61 mins
    Daniel Zoe Jimmez (IDC)Andy Watson, Laura Houldsworth (SAP Concur) & Ghamazy Rashid, Deloitte & Goh Seng Ti, Isuzu Motors
    As enterprises accelerate their digital transformation and move into the era of multiplied innovation, CFOs need to future-proof their organization with highly agile finance processes via an integrated intelligent management platform that provides hyper-connected data insights. It’s no longer just about productivity and efficiency, it’s about changing how work is done.

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    2. SAP Concur: IDC Intelligent Spend Management APAC results and insights
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  • Solving Spent Management Challenges for Better Visibility & Control Recorded: Sep 8 2020 58 mins
    Elise Shen, Senior Solutions Consultant, Mark Wilfred, Head of Presales, SEA, SAP Concur
    Thinking about how to keep a healthy float for your business?
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    2) Introducing Cash Advance & Petty Cash from SAP Concur
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    - Agile reporting capability to provide visibility into the organisation's spend
  • What you can't see can cost you Recorded: Aug 27 2020 46 mins
    Jonah Kim, Senior Product Marketing Manager
    Are the blind spots in your employee spending accounted for? You know, the “hidden” travel and entertainment expenses like flights that are booked out-of-system, taxes you don’t realize, or itemized meal expenses submitted incorrectly, or even fraudulently.

    While most systems track clear-cut expenses, the reality is that some costs will slip through traditional methods – a result of insufficiently documented expense policies, cumbersome tools, or simply, varying employee working styles.

    To truly manage spending, you must know what to look for and where to look.

    Join us to hear more from our Senior Product Marketing Manager, Jonah Kim as he discusses:
    - The costs you don’t see, including out-of-system bookings
    - The danger of not knowing these costs, such as not knowing where employees are travelling
    - 5 steps to revealing hidden costs, including what you should know about passive spending
    - The benefits of automated T&E, such as reducing errors and fraud
    If your system can’t capture spending wherever or whenever it happens, you’re not managing all your spending.
  • The CFO Perspective #1 - Intelligent Spend Management Recorded: Aug 11 2020 60 mins
    Daniel Zoe Jimmez (IDC)Andy Watson, Laura Houldsworth (SAP Concur) & Ghamazy Rashid, Deloitte & Goh Seng Ti, Isuzu Motors
    As enterprises accelerate their digital transformation and move into the era of multiplied innovation, CFOs need to future-proof their organization with highly agile finance processes via an integrated intelligent management platform that provides hyper-connected data insights. It’s no longer just about productivity and efficiency, it’s about changing how work is done.

    Join us to hear from the experts
    1. IDC: IDC FutureScape predictions, IDC Future of Work framework
    2. SAP Concur: IDC Intelligent Spend Management APAC results and insights
    3. Deloitte: Deloitte Vision 2025 report and 8 trends predictions
    4. A CFO view: 2020 priorities and focus
  • Future of Accounts Payable Automation Recorded: Jul 30 2020 58 mins
    Joseph Pradeep, Principal Solutions Consultant, SAP Concur
    In this increasingly volatile environment, is your organisation protected against potential fraud, fines and penalties?

    Enterprises are exposed to risk and compliance issues that can hinder growth and long-term goals. Organizations that have not implemented the right tools are particularly vulnerable to fraud, fines and penalties. In a fast-changing business environment, effective spend management tools can greatly enhance cash flow visibility and protect against significant losses due to fraud and misspending.

    In this webinar, you will learn:
    - How you can automate expense report and invoice capture, routing and approvals
    - Improve the productivity of your entire team so they can do more
    - Eliminate costly mistakes, delays, manual journal entries
    Join this webinar to understand how automating your AP process can improve productivity, provide your business with the right controls and visibility to effectively manage and protect your organisation
  • Realise Cost Savings with the Power of Digital Travel and Expense Recorded: Jul 23 2020 55 mins
    Chow Wai Yip, Senior Solutions Consultant, SAP Concur & Simon Dewey, Indirect Tax Specialist, VAT IT
    Join our Solutions Expert for a demonstration of the market-leading Travel & Expense platform!

    Using manual processes for Travel & Expense is time-consuming and demoralising for everyone involved. It also makes it difficult for businesses like yours to get visibility into spend patterns and data accuracy.

    In this webinar:
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    - Hear from our partner, VAT IT on how you can turn old expenses into cash savings
  • Turn Expenses into Cost Savings with SAP Concur Recorded: Jul 14 2020 60 mins
    Elise Shen, Senior Solutions Consultant, SAP Concur & Amar Singh Bedi, Regional Partnerships Lead, Grab for Business
    Struggling to save costs but don't know where to start?

    Re-looking at your expense reimbursement process might be the solution to your problem. Join us as we look at how digitalization and technologies are transforming the way that Expense Management is handled by the Finance function in organisations today.

    This session will introduce:
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    - The importance of a mature ecosystem to support automation of the expense report preparation process
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Improve productivity, compliance and control over business expenses
SAP Concur is a Saas solution which offers integrated solutions for business expense management.
The cloud-based and mobile services make expenditure transparent, simplify planning, booking, billing and reporting.
With SAP Concur, companies and business travellers can concentrate on business critical essentials and make intelligent business decisions based on accurate data.

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  • Title: SMBs: Striking a Balance Between Strategic Spending and Cost Control
  • Live at: Jul 15 2021 3:00 am
  • Presented by: Mark Wilfred (SAP Concur), Jeremy Gray (CFO Centre Singapore)
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