When employees transitioned to remote work, it exposed a weakness in controls. According to Oversight Systems, a spend and risk software business, abuses surged in certain spending categories. While travel and entertainment expenses dropped 55% in 2020, the violation rate ramped up by almost 300%. This is a of concern as up to 47% of companies will allow full time remote work on a permanent basis. Spending to support remote work has increased 7x in 2020 as compared to 2019.
It all starts with searching for an ideal SaaS financial template. A Google query returns about 3 million results. The vast majority are helpful in teaching the mechanics and finance basics. However, they are not especially useful in your attempt at divining the future.