Trends in corporate finance
From Expense Management to Smart Spending
David Parker, a fintech expert and founder of Polymath Consulting, brings a wealth of experience in payments and open banking. While Bas Janssen, Head of Strategic Initiatives at Mobilexpense, offers a deep understanding of cutting-edge financial solutions. Together, they explore the integration of AI, sustainability, and real-time solutions to enhance financial processes and employee experience.
Key takeaways:
- Harnessing AI for compliance: AI in expense management has moved beyond basic rule-based systems, now enabling real-time compliance by automatically flagging non-compliant expenses and reducing manual workload for finance teams.
- Empowering employees with real-time payments: Real-time payment solutions and virtual cards provide employees with tailored spending limits, balancing flexibility with financial control for the company.
- Tracking sustainability with carbon counting: Companies are integrating carbon tracking into finance, using tools to estimate emissions and support sustainability goals as well as regulatory requirements.
- Simplifying compliance through real-time reporting: Real-time compliance minimises the need for monthly expense reports, allowing finance teams to immediately address non-compliant expenses and improve policy adherence.
- Centralising financial management for strategic oversight: The shift towards a single dashboard for expenses, invoices, and accounts payable data allows CFOs to make more informed, strategic decisions.
- Aligning finance and HR for employee satisfaction: Finance and HR collaboration creates a seamless, employee-friendly expense process, making it a valuable benefit that enhances retention and job satisfaction.
David Parker
Founder of Polymath Consulting, a leading payments and fintech consultancy, David is also involved in the development and consultation processes in the UK around Open Banking. Known for his forward-thinking approach in the financial sector, his deep expertise helps organisations leverage fintech to optimise financial processes, particularly in expense management/BPO.