Inefficient expense management processes present a host of challenges and opportunities for SMBs. This paper highlights the areas that automation can make an impact.
For SMB leaders, time, money, and organizational focus must be balanced to ensure that the short-term needs of the business are addressed and that the long-term goals of the business can be realized. Who do you hire next? When do you do it yourself? When do you outsource? When do you need to establish a formal process or policy? Successful leaders understand the immediate costs of their decisions but they must also seek to understand the opportunity costs of what they pursue. They also need to have great instincts to anticipate issues looming on the horizon - when will some small, manageable problem today become a significant distraction and disruption to staff, operations, and most importantly, to clients? Perhaps the most daunting aspect in all of this is that most SMB leaders perform their balancing acts at great heights and without a net.