More and more companies are trying to reduce waste in an effort to become “eco-friendly.” But, any large institution will struggle with going completely green. Even when you’re conscious and mindful, it’s easy to generate a large volume of waste in an office or building with a large group of people.
In the most recent study by the U.S. Energy Information Administration (EIA), commercial buildings were categorized and sorted in order of their energy consumption. They include, in order:
Offices (including government buildings and banks)
Mercantile buildings (stores, gas stations, malls, etc.)
Everyone wants a smooth workflow. The word itself says it all. You want the work to flow as you focus intensely and produce results with minimal time wasted. Yet we all know that’s not how our workdays turn out.
Thankfully, there are tools you can use to get rid of distractions and time-consuming processes. Think of them as shortcuts that enable you to focus on your work rather than all the superfluous details.
A McKinsey report on social technologies found that simply by tapping into powerful applications, we can improve global productivity by 20 to 25%. The apps include those that can improve communication and collaboration between teams, saving time and improving performance.
As digital transformation sweeps across the globe, organizations are looking to use technology to improve efficiency in all departments. The procurement department, which owns the overall procure-to-pay (P2P) cycle, is no exception. Digital or e-procurement has the potential to hugely impact P2P.
What Is Procure-to-Pay?
Procure-to-pay is an umbrella term for the process of requisitioning, ordering, purchasing, and receiving goods or services for an organization. It’s a standard, necessary part of any business operations that may or may not involve multiple stakeholders depending on the size and hierarchy of the company. The process usually requires a lot of paperwork and time to complete fully.
Fast forward to 2019, and things seem to be pointing in a different direction. The latest Deloitte study found a clear shift in procurement, with an accelerated pace of change in digital procurement. While cost reduction remains a priority (78%), there was a clear emphasis on innovation and value as well.
So with that in mind, here are some key statistics to focus on as we move toward 2020 and beyond.
Every time we think we’ve got a handle on automation, new statistics emerge to challenge our perception. Just this month, McKinsey released a new report about the future of women at work, saying that an estimated 40 to 160 million women around the world will need to transition their skills.
But the report also pointed out that both men and women will be similarly affected by automation, just in different areas. Without a doubt, the effects of automated processes will be felt in every sector across all roles.
To understand the scale and importance of automation in the workplace, take a look at some of these key statistics.
A business lunch with a client. An Uber ride to the airport. Drinks at the hotel bar with a colleague. All these expenses could qualify for travel reimbursement, but how do you make sure everyone’s receipts and records are all accounted for?