Shadow spending is more likely to happen these days because offices have become more democratized and purchasing more decentralized. C-suite financial planning goes out of whack when well-meaning employees break or ignore the rules to purchase what they think they need, when they think they need it. The need for control is especially acute as shadow spending - when employees bypass procurement policies and make corporate credit card purchases without prior authorization - takes on more significance. But they don’t give themselves a chance if they don’t control what goes out. There are few scenarios where companies feel they have all the money they need. And it enables the bottom-up thinking modern teams want and need by increasing spend visibility. It automates purchase approvals, reconciliations, and invoices and integrates with popular accounting, HR, and communications platforms.
Teampay helps companies control what goes out and why as work patterns hybridize, competition intensifies, and capital backing tightens. With Teampay, firms in growth mode can quickly get up and running with scalable spend management that puts everybody on the same page. In a Nutshell: Corporate purchasing workflows don’t have to look like random scribbles.
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