From Expense Tracking to Spend Management

Survey Report from Empowering CPAs in the Digital Age.
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Rising inflation and growing economic uncertainty are compelling small and midsize businesses (SMBs) to take back control of company-wide spending.

Empowering CPAs in the Digital Age | surveyed 750 SMBs and 350 accounting firms to quantify the spend management advisory opportunity. The resulting report contains actionable insights for accounting practitioners against the backdrop of a new, proactive approach to expense management among SMBs. Key findings include:

  • 72% of SMBs surveyed seek a proactive approach to expense management, yet only 34% of accounting firms offer these services.
  • 41% of SMBs who outsource expense management have seen significant time and cost savings.
  • The majority (51%) of SMBs who outsource expense management are utilizing card based spend management technology and report that it has been game changing for their companies.
  • Firms who offer technology-enabled spend management services are realizing benefits, including greater efficiencies and profits (63%) and increased ability to attract and retain clients (74%).

The spend management survey provides an opportunity for you to explore the many benefits of technology-enabled spend management services - first by reviewing the findings in the report and later by applying the best practices to your firm.