Business or Financial Transformation: Fear It or Face It?

The term Business or Financial Transformation sounds so regal that it sometimes can be its own un-doing; so much so that very few senior managers attempt radical transformation. Whether it is taking on B-HAGS (Read Big Hairy Audacious Goals) or doing anything that is truly disruptive, the fear of failure rings loud. ‘Our culture has always been like this’ or ‘We always do it this way’ or ‘Our process is the most optimized for our operations’, such is what one hears after a conversation on transformation that has the power to influence all or some major departments.

The desire to brave the odds, most often is suppressed and then we all go back to our journey of incremental improvisations. Such improvements as we all know will get us similar results, certainly not path-breaking or industry-leading innovations.

But on the flip side, transformation for the sake of it is not the way to go but then ‘Why fix it when it ain’t broken’ too is not the answer. Fundamentally the questions one needs to ask are:

In which scenario is disruption most suited?

How can one test the success for disruption?

What risks am I dealing with and what will it cost?

What is the value of derived benefits?

Do I attempt financial transformation of non-critical, low hanging fruit?

Is there really a way I can quantify the benefits, test them against data and take an informed decision?

Viola, yes you can. Business Travel Expenses is one area where all of the above question can be answered in affirmative!

Most companies would brand Travel Expense as a necessary evil and look away from it but what if it proves to be a strategic transformation line item that helps companies save cost and make their resources more productive and efficient.

Today it is assuredly possible to achieve quantification of business case in form of ROI. By testing your own data and the levers that are available, you can actually save money for your organization at the same time increase employee satisfaction & goodwill. Think of Travel Expense transformation as a strategic Initiative, which can not only save or earn money, but also impact almost every employee within the organization, cover for important HR aspects like Duty of Care, and become a quick win, to pave way for other transformational initiatives.

Another simpler way to go about it is to learn from what others have done.

So, strong leaders don’t wait for the change, be the one to bring it. Let us help you understand ROI on Travel and Expense automation for your company.

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