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Win CFO Approval for Expense Management Automation for Manufacturers
How to Win CFO Approval for Expense Management Automation for Manufacturers
In the ever-evolving landscape of manufacturing, the quest for efficiency, compliance, and strategic insight has led many to innovate through automation. Automation is about more than just enhancing operational efficiency, it's about enabling manufacturing CFOs and finance teams to become profitability and strategic growth architects.
The imperative for automation
Despite the clear advantages, many companies remain tethered to manual expense management processes. Research shows that many businesses still rely on manual expense reporting processes.
This adherence to outdated methods drains resources and hampers visibility and compliance, creating a fertile ground for errors and fraud. Recent data from Emburse showed that a quarter of employees admit to committing expense fraud 1. The question, then, is about more than the efficacy of automation; it is about aligning the benefits of automation with the strategic goals of CFOs.