It’s a known fact that running a business is expensive. Various costs go beyond operational expenses such as business travel, meals for clients, and transportation can add up at the end. A good expense reimbursement policy should be in place to track these costs. Necessary components of an expense reimbursement policy Knowing what to mention […]
How can Expense Reimbursement Policy Reduce Out-of-policy Spending? Read More »
Tracking expenses on the paper receipts is quite daunting for the managers as well as employees. More than 60 percent of workers merely attach all receipts to expense claims and leave the rest for the accountant to figure it out. Think of having to riddle out what receipts goes to which expense throughout the day.
Top Ways to Automate Your Expense Tracking Read More »
For employees, gathering and organizing reports to submit expense claims can be filled with frustrations. On the other hand, manually going through every single request and verifying it with the correct attached bill while following the company’s expense policies and guidelines is tedious for the employers as well. Many enterprises are managing their expense reports
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Automating expense management can aid you to claim reimbursements quickly, minimize expense processing costs, and the time assigned to expense reporting. The Present Situation of Automation The solution enhances employee satisfaction as well as minimizes the burden that comes with semi-automated or traditional processes. But, still today, many organizations claim that they do not want
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Every organization should track their expenses periodically to ensure productivity. But, manually monitoring various financial transactions such as expenses, reimbursements, reconciliations, and more are challenging and time consuming. To cope, many enterprises are willing to adopt expense management systems to track the day-to-day corporate and business expenses more effectively. However, choosing the right software among
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Most of the employees are frustrated by the expense reporting process; they spend money out-of-pocket and claiming back involves stapling a receipt to spreadsheet, getting authorization from manager and posting it off to head office. Certainly, this process involves paperwork and would lead to potential errors and expense fraud. Expense fraud is one of the
How Can Corporate Cards Eradicate Expense Fraud? Read More »
Controlling corporate travel and expense costs requires you to have visibility into the data so the spending patterns can be easily analyzed and appropriate actions can be taken. Having more data makes it challenging to analyze the spending patterns and makes the data analysis complex. Reports help you to review and analyze the data, so
Uncover Hidden Savings Opportunities Using Expense Software Read More »
When it comes to spend management, there is no room for errors, and you can accurately forecast, and budget when you invest in expense software. This process requires every expense report to be submitted in a timely fashion, and every vendor invoice must be accounted for. Process inefficiencies exist when things are running manually. These
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As an employer, one of the most repetitive and tedious tasks is to check expense claims and approve or challenge them. There are two methods to approach this. You can struggle through this and do the best you can. You can take proactive steps to make expenses simpler and faster for all. Here, are some
Key Ways to Make Expense Management Easier Read More »
Today, many organizations are still stuck using a manual expense reporting system. Does your organization still follow the paper-based, tedious, or a homegrown solution with Excel spreadsheets and email routing rules? Such outdated and manual systems are prone to errors and can cost you high in terms of productivity and money. Here, we present the
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