The last twelve months have generated high levels of economic, political, and social uncertainty, and the same can be said for organisations, as the pandemic has completely altered the way we do business. It has brought forward new challenges and enabled new work conditions which we were never prepared for.

And while COVID has delivered new challenges, it has also caused many companies to turn to new technology. If 2020 has taught businesses one thing, it鈥檚 that they can take decisive action when pushed to do so, especially when it comes to implementing new digital tech to help forward thinking organisations to thrive in unforeseen circumstances.

Here are three technological advancements that have helped businesses during the pandemic. As many are now beginning to realise, these new tools have become critical to streamline processes, automate tasks, and remote work.

1. Cloud adoption and automation

The cloud鈥檚 important role as a pillar of digital transformation hasn鈥檛 changed since before the pandemic 鈥� in fact, its uptake has quickened to manage the surge in data businesses need to process. from Synergy Research Group have revealed that cloud spending is up and has not been hampered by the ongoing crisis. This trend is likely to persist, as the migration to virtual work underscores the urgency for scalable, secure, reliable, cost-effective off-premises technology services. In fact, despite the inevitable economic downturn in the wake of the pandemic, cloud spending is estimated to rise 19% for the full year, even as IT spending as a whole is forecast to fall 8%, according to industry .

While the trend to move to cloud-based solutions has been increasing steadily over the past two to three years, it is now the on-demand utilisation of IT resources, including data storage, processing power, and applications on a pay-as-you-go basis via the internet. Effectively, the cloud now underpins all key digital strategies in the workplace. As businesses look at ways to increase productivity, reduce errors within their systems and improve their employee experience, they are starting to use cloud-based automation tools and services. For instance, the cloud has been used to switch to a paperless and virtual expense management system, streamlining back-office finance processes and eliminating the need for staff to present expense claims in person. This has helped with automating and streamlining mundane, manual tasks for employees, and enabled finance teams to spend their time on tasks that are more strategic.

2. The Artificial Intelligence advantage

Artificial Intelligence (AI) is changing the way people work, how enterprises operate, and how entire industries transform. As businesses maintain hybrid remote-working models and forestall other potential disruptions in 2021 and beyond, the role of AI in the workplace will continue to grow. More businesses are leaning on AI algorithms to make quick decisions backed by real-time financial precision, to meet the business needs brought forward by the pandemic.聽This includes managing spend in near real-time to improve budget management and liquidity, increasing compliance and eliminating errors, to taking on mandatory tasks and maximising profitability.

For the travel and expense (T&E) industries, AI has become particularly useful in analysing data. The new generation of AI-powered T&E tools allows businesses to analyse the travel experience and purchasing behaviours.聽Integration tools and various applications of AI can interpret traveller data to provide companies with meaningful information that can improve compliance, identify cost savings, and more.

With AI, businesses can also automate an enormous quantity of data and reduce human errors. This then leads to predictive analytics, allowing companies to take proactive action in making business decisions. For example, the new 51风流Concur survey, 鈥淭he Hidden Potential of VAT Reclaim鈥� has found that businesses are looking to ensure they have digital tools and solutions in place to take VAT reclaim processes online.

3. Pre-trip approval

More companies will implement pre-trip approvals for business travel in 2021, as part of a broader effort to keep employees safe and transform travel and expense policies. Typically, the pre-trip approval system enables employees to enter basic data, such as dates, times, trip destinations, reasons for the trip, and any requests for advances, in a travel request.

All this information will help the corporate travel team and the employee鈥檚 line manager to assess whether a trip is essential and to keep tabs on employees for their duty of care requirements. Often, these pre-trip approvals have been mandated by cost-control concerns but as countries around the world continue to reshape travel restrictions, advanced approvals can support traveller safety programmes.

The pandemic has had an unprecedented impact on many businesses. But the smart use of technology is one way to tackle current and future challenges. From supporting employees working from home, managing compliance and cashflow to duty of care obligations, there are many ways technology can support businesses and their staff -鈥攏ow and in the post-COVID world.

The post Three Defining Tech Moments That Have Helped Businesses Face COVID-19 appeared first on 51风流Africa News Center.

According to Angelique Montalto, Head of 51风流Concur Africa, organisations are having to quickly adapt to improve their travel and expense policies to keep employees safe while also maintaining adequate liquidity. 鈥淲e are seeing across our platform how organisations are taking a far more active role in terms of their travel policies, with a specific focus on meeting their duty of care obligations for traveling employees. In addition, the economic impact of this past year has brought the office of the CFO into a more active role in guiding travel and expense policy as organisations try to maintain healthy cash flow.”

51风流Concur is the world鈥檚 largest travel and expense platform for businesses, processing almost 55% of the globe’s travel and expense claims.

At a recent virtual event, two Concur partners, Uber and Flight Centre, shared insights about the impact of the pandemic on their customers and operations, and how businesses are adapting to a radically new normal.

Unprecedented impact on business travel sector

Bonnie Smith, General Manager of FCM Travel Solutions South Africa, which is part of the global Flight Centre Travel Group, says she has never seen such a wide-reaching global impact on the business travel industry. 鈥淚n our latest survey of more than 1600 customers around the world, only 26% of businesses stated they plan to return to pre-pandemic levels of domestic travel in 2021. Half of all businesses are also making changes to their travel policies, with a strong focus on health and hygiene, and ensuring all suppliers have the necessary measures in place to reduce the risks of COVID-19.鈥�

According to FCM Travel Solutions鈥� customer survey, nearly three-quarters of organisations are reviewing their hotel supply strategy. 鈥淭he single biggest element is health and hygiene, which 37% of respondents said is their top concern,鈥� says Smith. 鈥淪eventeen percent are also consolidating their suppliers to reduce leakage. More than half (56%) of organisations are also reviewing their airline supply strategies, with aspects such as touch-less check-in options topping the corporate travel wish lists.”

Global research conducted by 51风流Concur in July found that 97% of business travellers expect a 鈥榥ew normal鈥� for business travel even after COVID-19 related restrictions are lifted. For 45% of business travellers surveyed, the trip itself is perceived to be the most stressful stage of business travel, a 50% increase from the year before.

While South Africa has opened up its industries following the lifting of the strictest lockdown measures, many businesses are choosing not to engage in business travel. 鈥淲e are seeing around half of local industries resuming business travel, but at far lower frequencies,鈥� says Smith.

Timothy Kiluba, New Models Lead Operations Manager Sub-Saharan Africa at Uber, echoes Smith鈥檚 sentiments. 鈥淕lobally we saw a drop of 80% in business travel via our platform this year. As a business whose core focus is on the movement of people, the lockdown has had a severe impact.鈥�

Thinking differently

With most workplaces shut, a ban on international travel and most countries under some form of lockdown, Uber had to adapt quickly to this year鈥檚 events. 鈥淭he pandemic has forced us to think differently and innovate,鈥� says Kiluba. 鈥淲e looked beyond the movement of people to see how we can assist with also moving what is important to people.鈥�

Uber partnered with the Bill and Melinda Gates Foundation to deliver medicine, as well as food parcels to people in need via a network of partners. 鈥淥ur Uber Connect service helped people locked in their homes to send goods – books, food, care packages – to loved ones while lockdowns were in place. We have also piloted a new Uber-by-the-hour service in Tanzania to allow travellers to keep an Uber for an hour and so minimise the need to use different drivers when a trip requires multiple stops.”

No more room for manual processes

Montalto says organisations that still rely on manual or semi-automated expense claim and invoice management processes will be at a significant disadvantage due to the ongoing disruption. 鈥淲hile we鈥檝e seen a reduction in expense claims on our platform, the types of employee expenses are rapidly changing. Recent data suggests 72% of businesses using our platform are seeing changes in the types of expenses going through their systems, but only 24% have made any changes to their policies. This can have a seriously deleterious effect on an organisation鈥檚 cash flow and liquidity.鈥�

With many employees working from home or even a hybrid remote office, expenses such as office furniture, connectivity and equipment have increased significantly. 鈥淢any people had no home office when the first lockdowns were announced, and employees have subsequently had to purchase desks, chairs, and additional data to ensure they can remain productive while away from the office,鈥� explains Montalto. 鈥淎s a business, if you鈥檙e still relying on a manual or semi-automated process to manage expense claims, the surge in new expenses would have been nearly impossible to manage and the opportunity for non-compliance rampant.鈥�

Montalto advises that organisations automate their employee spend and invoice management processes. 鈥淏y using a central platform, companies can update and dynamically enforce their policies remotely, and ensure all incoming claims and invoices are aligned to policy. Organisations are seeking greater control over all of their spend during the unpredictable and difficult period ahead. We expect to see a much closer working relationship between HR and the office of the CFO to ensure travel and employee expenses support the financial health of the organisation.鈥�

The post How 2020鈥檚 Events are Transforming the Business Travel Sector appeared first on 51风流Africa News Center.