Managing expenses isn't a task that many people particularly love to work on, yet it's a vital one and can have enormous ramifications for a business if not handled properly. If you'd like to find a way to spend less time sorting out this area of your organizational finances and reduce problems simultaneously, it's worth turning to technology. Thanks to artificial intelligence (AI), expense management is becoming easier and more effective than ever. In many organizations, a lack of space or too much paperwork to store leads to a lot of stress and time spent attempting to locate files. If this is a pain point in your venture, AI can help at least limit expense-based paperwork, among other things.

The Transform Technology Summits start October 13th with Low-Code/No Code: Enabling Enterprise Agility. Document processing automation startup Mindee today emerged from stealth with $14 million in series A funding led by GGV Capital, with participation from Alven, Serena Capital, and Bpifrance through its Digital Venture fund. The company plans to use the funding to expand its presence in the U.S. and Europe and further develop its machine learning and platform technologies. Despite the growing move toward digital transformation, HR professionals, accountants, government employees, and clerks take hours to manually enter information into their systems. Surveys show that employees spend somewhere around 150 hours a year searching for files in cabinets and 30% to 40% of their time looking for lost or misplaced paper.

SAP Concur is the world's leading provider of integrated travel, expense, and invoice management solutions, driven by a relentless pursuit to simplify and automate these everyday processes. With SAP Concur, a top-rated app guides employees through every trip, charges are effortlessly populated into expense reports, and invoice approvals are automated. By integrating near real-time data and using AI to audit 100% of transactions, businesses can see exactly what they're spending without worrying about blind spots in the budget. SAP Concur eliminates yesterday's tedious tasks, makes today's work easier, and helps businesses run at their best every day. Learn more at concur.com or the SAP Concur blog.

With the Indian B2B segment rapidly evolving, it only makes sense that technology-driven models are deployed for effective management of not only specific processes but also entire businesses. Also, with automation and disruptive technology being at the forefront, the need of the hour is for seamless integration of these within business management solutions. When it comes to management of various business processes, smart solutions should be devised for aspects which potentially require micro-management. A classic example here is expense tracking. "AI is accelerating the velocity and ease of payments for consumers," states Rathi to Entrepreneur India.

Finance is today, metamorphosing into a strategically focused, value-driven function. Within organizations, finance teams are becoming important catalysts for business growth. CFOs are investing rapidly in various technologies to maximize the potential of the finance function through streamlining and automation. Historical and real-time big data; and predictive analytics are connecting operations, functions and teams, providing visibility and access to insights. Blockchain and IoT is enabling sophisticated data collection and analysis, resulting in actionable insights that help build the competitive advantage.