“For this first time, we have decided at Jenji to launch an Index, which is based on real Data with several million anonymized expenses worldwide, from the Jenji solution”- Head of Marketing, Jenji
While the world is rapidly transforming, today's market trends are constantly changing as well. According to a recent survey, 37% of companies have implemented AI in 2020 in some form, which is a 270% increase over the last four years.¹ Due to the COVID-19 pandemic, new strategic decisions have been taken to achieve business goals and one of them is digitizing expense management processes within organizations.
Although many industries are experiencing huge losses and lower interest rates in their products and services since COVID-19, some companies are exploding. Two tendencies are clearly identified and there are remarkable differences in performance between, and also within, sectors. The sectoral gap between two key groups influenced the expense management process and also transformed spending habits.
One of such industries, which has been decimated by the impact of the world pandemic COVID-19 outbreak, is business travel. Despite the blows to airlines, hotels, and rental-car companies, the pandemic didn't deliver a lingering hit to the train business industry compared to others. In this case, travel patterns didn't change in the same way and created two sides of business travel.
Beyond the new expense management habits and changes, the world pandemic also forced digital acceleration. In just a few months’ time, the COVID-19 crisis has brought about years of change in the way companies in all sectors and regions do business. And this is reflected in the way companies are today using digital expense management solutions.
These three main topics will be covered in the launched Global Expense Management Index, presenting such facts as the percentage of the sectoral gap between industries,
increased percentage of digital invoices, which grew up to 22 %, and so on. The Jenji Index aims to imbue the companies, especially CFOs, auditors, and HR managers with a resource through which they can assess progress and changes over the last 2 years in expense management processes.
Jenji Index is not just dry facts, it provides story and information from a unique angle, underlying reasons, and evidence-based arguments to enhance automated expense management solutions.