Oxford Economics Research

Finance in the New World of Work
- SEA Report

With the unprecedented number of people working from home, 2020 has turned out to be a watershed year for organisations to manage employee productivity. While these remote workers are well supported digitally in many areas, crucial yet often overlooked finance and admin processes remain painfully manual.

A new SAP Concur commissioned study, entitled “Finance in the New World of Work”, revealed that the potential economic loss across Southeast Asia due to inefficient finance and administrative processes could amount to US$2.1 billion.

The study, conducted across Asia Pacific with 2,012 respondents who are finance and expense users, also identified the gaps in organisations’ expense management, business travel, and remote work processes.

This whitepaper is designed to provide Finance and HR leaders with an understanding on what their end-users want so that they will have a more informed view of the changes they need to enact in their organisations, to help their businesses become more resilient and competitive in the new era.

This report is now available for free download.

  Download all 5 parts of this infographic and
  this report

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Special Report: How can CFOs help turn adversity into advantage in times of crisis?

While the crisis has created unprecedented challenges and uncertainty, it also presents an opportunity to pause, reassess, and develop strategies to help the organization not only survive, but become more resilient against future uncertain conditions. Each business must take a unique path that goes beyond simple recovery to instead drive reinvention. But whichever path makes the most sense for your business, technology can – and must – play a pivotal role.

To gain a better understanding of the impact, Gartner surveyed enterprise CFOs and reported these three key findings:

• Focus has shifted from growth, efficiency, and partnerships to business continuity.
• Increasing cash positions, reducing functional costs, and enabling remote work have become top priorities.
• Finance leaders are uncertain about what to do next.

References:
Gartner, “Evaluating Your Finance Transformation Program During a Pandemic,” April 17, 2020