Dive headfirst into the realm of financial efficiency as we uncover the transformative potential of automated spend tracking solutions for streamlining your business expenses.
Investing in any tool to streamline your business can feel like a tightrope walk. You’ve got to find something that guarantees value and returns. Whatever you choose must meld seamlessly with your business procedures, processes, principles, and culture.
Things get particularly confusing when you’re dealing with a savvy salesperson. Conversations with a proficient salesperson can often turn complex, making it challenging to differentiate substantial, core benefits from polished fluff.
The use of our to from Bento for Business can simplify this process, enabling you to streamline your business without the need for numerous exploratory attempts or extended dialogues with sales representatives, regardless of their perceived productivity.
Due diligence and market research will be your guiding forces. This could mean searching up reviews and even trying to find industry peers who’ve used your potential solution and are willing to provide insights into their experience.
Additionally, most business solutions worth their salt will offer a free trial. At Bento for Business,
our free trial is sixty days.
Why is our free trial so long? Our objective is to instill complete confidence in our customers regarding our technology’s efficacy prior to their formal commitment. We not only welcome, but also encourage rigorous due diligence. The stellar testimonials from our existing users and the valuable insights gained from every second spent within our free trial will undeniably showcase the exceptional value we bring to the table for prospective customers.
Our spend tracking solutions have been meticulously optimized to provide genuine, undeniable value. Our distinctive, value-centric business tools have enabled diverse organizations—be it fleets, construction teams, startups, non-profits, or professional services companies—to reduce their spending by an average of more than 15%.
Read on as we explore the streamlining business benefits of Bento’s automated spend tracking solutions:
Welcome To The Wonders Of Automation.
Before delving into the primary function of spend tracking software, namely optimizing non-salary business expenditures, we will first focus on a noteworthy feature of our software—its full automation.
This transition to automation yields several benefits, including:
• Significant reduction in error probability through the successful integration of automated tools.
• Gartner reports that process automation helps teams save up to 25,000 hours by eliminating the necessity of redoing tasks due to human errors.
• The associated cost savings from these saved hours amount to an impressive $878,000.
Consider the remarkable financial savings automation tools can provide by streamlining basic tasks. Reflect upon the profound implications of this advantage.
Every moment your employees save on redundant tasks is a dollar that goes to something far more valuable.
Bento’s spend tracking solutions offer automation for tasks directly related to cost savings. You’re applying tech that saves money in and of itself to the objective of saving money. With this type of strength-on-strength potency, your business can’t be stopped.
Automated Spend Tracking Solutions Give You a Legitimate Leg Up Over the Competition.
Given the demonstrated efficacy of automation, one might question why not all businesses are leveraging it?
You might also contemplate, if these tools are so widespread, how can they provide a competitive advantage? Won’t you simply be another business within the myriad already utilizing automation?
Let’s consider, hypothetically, that all businesses are indeed using automation. In such a scenario, the adoption of automated tools becomes a prerequisite to maintain parity with competitors, thus preventing them from securing an undue advantage.
Moreover, you could be more strategic about your automated solutions than your competitors are about theirs. For instance, you could use Bento’s spend tracking solutions to gather real- time insights into your company’s spending. Our automated tech helps you track all the dollars going out, allowing you to detect inefficiencies costing your company money.
Even though your competitors might be using automation, they’re likely not using it in the above fashion.
Also, despite the growing prevalence of automation-based tools, they aren’t necessarily embraced by all companies.
Bento’s spend tracking solutions enable you to export data into accounting platforms. Moreover, it automates the entire expense reporting process. Such benefits give you a distinctive advantage that most companies aren’t leveraging.
Finding Your Hidden Profits
Studies show that businesses waste 9.9% of every dollar. The same report states that
$1 million is wasted every 20 seconds.
We don’t have a direct line into your business, and the above stats likely don’t provide an apples-to-apples comparison. However, rare is the company that has 100% fine-tuned this specific area of its operations.
Alternatively, there are companies out there who tighten their belts too much. They fail to invest in tools that will help them thrive in the future to save a few bucks today.
While keeping the above points in mind, note how Bento provides the following benefits to companies and their leaders:
• Real-time reporting and data capturing enable enhanced decision-making.
• Levers-of-control implementations help you make budget-based course corrections.
• Spend management tools bolster your operational efficiency and increase your return on investment (ROI).
These tools help you find the happy middle point that drives business success. You have readily available insights to help prevent unnecessary and costly spending. Simultaneously, you’ll see where you should spend money to foster substantial returns.
In other words, you’ll have the confidence (and available funds) to jump on profitable opportunities that require some initial capital.
We should point out how the revenue earned by your products and services is undoubtedly the lifeblood of your company.
Yet, inefficient spending can dwindle away every last dollar you earn from selling. Eliminating those inefficiencies and ensuring every dollar spent is rooted in returns will help you find profits where you least expect. It’s addition by subtraction–you make more by spending less.
Spend Controls Make It Easier for Everyone.
Human error, while a part of life, can complicate financial management. Imperfections define us, but in business finances, we strive for perfection. This is where spend controls shine, streamlining the process for everyone, minimizing errors and enhancing efficiency.
Sadly, your business budget can’t afford the luxury of appreciating the uniqueness of a person’s imperfections.
Your employees have your business’s best interests at heart. For instance, you may give a team member the responsibility to make procurement decisions or give them a traditional company credit card for a work trip.
Yes, you’ve hired people that will put their best foot forward and not actively try to hurt your company by spending too much.
Still, we’re talking about humans. Even with the best of intentions, your employees may overspend company funds.
By setting clear spending boundaries for your team members, you safeguard them from potential financial missteps.The robust spend controls offered by Bento for Business eliminate the chance for human error. You can set a strategic limit on our virtual and corporate that ensures your organization won’t be hurt by excessive spending.
This way, there’s no confusion or murkiness about spend limits. The rules are set and cannot be broken–much to your bottom line’s benefit!
Reducing Workplace Burnout.
Did you know that professionals using automated tech claim such tools save them 3.6 hours every week? This adds up to 23 working days each year.
Spending too much time on menial tasks that feel aimless can chip away at morale and cause burnout. Spend tracking tasks (without the help of Bento) can be a prime burnout culprit.
Approval workflows and expense reporting can both be time-consuming. Hunting employees down for receipts can be a massive distraction that hinders progress.
Your financial people can feel like they’re spinning their tires and getting nowhere despite working long hours. From there, they can lose their passion for the job and become less engaged.
Burnt-out employees often leave companies, potentially costing around 1.5-2 times their salary in the big picture.
Our automated spend tracking solutions ensure your people don’t get bogged down in mind- numbing tasks. They get freed up to make impactful contributions to the workplace, keeping them engaged and fully dialed in. Plus, they won’t need to work long hours to catch up, reducing fatigue and further staving off burnout.
Assessing Your Business from All Angles.
Are spend tracking solutions going to be the be-all and end-all of your business?
All companies are made up of many moving parts that–ideally–function harmoniously to develop a (highly) profitable entity.
Spend tracking solutions can be a critical component that gives your company an advantage. However, many other factors will dictate whether your organization is a lasting success.
Honing your spend management processes is about assessing your business from all angles.
By focusing on spend management, you pay attention to all details that impact your bottom line. You ensure not a single cent gets wasted on something meaningless. Everything happens with purpose–an attitude that can become infectious throughout your other organizational facets.
Reap the Benefits Of Bento’s Automated Spend Tracking Solutions.
Our mission is to ensure you maximize the benefits of our product. Hence, we invite you to reach out to Bento for Business for any inquiries related to our sophisticated spend tracking technology. Together, we can shape a more streamlined, efficient future for your business.