From times known to man, humans have lived a community life. Sharing thus has been the key to survival. Not only did it protect but also allowed us humans to prosper. Prosper we did and sharing truly became the core philosophy behind the evolution of humanity. Then as industrialization came through in the last 3 centuries, the need to share only became more pronounced. This certainly led people to create distribution systems to be able to optimally share; water off the tap fed through the lakes by a pipeline system, electricity through the grid, transportation through mass medium like railways etc..
Technology by that measure is the most nascent phenomenon. But why should it stay far behind? It caught speed and now again, the core philosophy is on sharing which is in the form of data center, connected devices, IoT et al. However, the difference between earlier and now lies in the cost of building, managing and deploying these advancements. It is this cost that brought cloud technology to the forefront. And with it came virtualization, big data, analytics, security and mobility.
Now the question for future-ready companies is not ‘if or not’ to go the cloud way, it is ‘how soon’?
Cloud-adoption also beings with itself certain uncertainties, like -
- Should it be private or public
- What is the best flavor to consider - Infra as a Service (IAAS), Platform as a service(PAAS) or Software as a service(SAAS)
- What about security, data integrity & business continuity
To a great extent, answers to the above questions depend where the company stands on this journey. What really is the core business of the company? How progressive & open minded is the culture? Is the company risk averse? What about the investments philosophy, Capex or Opex?
In this case, a quick-sure way to garner organization wide support when looking at innovative or disruptive initiatives is to start with non-critical yet impactful processes. One such area where some of the smart CXOs have dabbled with automation and cloud technology is Travel & Expense (T&E) Management. What about the others that are keeping their safe distance from automating T&E?
As per a PayStream’s survey, below are some reasons companies are yet to implement an automated T&E management solution.
In a way, all of the above are one and the same. For an organization, it may be true that currently instilled processes work and implementation of an automated system will likely incur up-front costs. However, what professionals fail to realize is that the initial costs will soon outweigh long-term savings; not to mention greater efficiency, visibility and policy adoption.
Contact us to know more on what it really takes for companies to get on to cloud for their Travel & Expense Management.