Corporate travel is a great way to grow your business but can detriment if not managed efficiently. If your accounts department is chasing employees or losing thousands of dollars, then most likely, you should consider your cash flow. To help you, we outline a few tips to improve your overall expense management. Restrict Expense Accounts Limiting the number of active ...

Businesses are increasingly spending more on travel and entertainment business expenses. On average, around 10% of the annual revenues account for business travel. The time and cost of expense report processing exceed $100 according to the Global Business Travel Association (GBTA). This is the result of: Accounting Departments are Overwhelmed Accounting departments are asked to do more with less. Adding ...

Technology is making our lives more manageable by allowing corporate travelers to book online in just a few taps on mobile devices and flight check-ins. Traditional business travel and leisure trips used to be more paper-based. Travel Booking Can’t be Done by Yourself Today, travel booking engines have changed the way you book travel. Whether you are on desktop or ...

Most business aspects are digitized to improve the efficiency of the processes. Corporate travel management is one area that is falling behind the technological advancements. Businesses have started adding virtual payments to the accounts payable life cycle. Let’s see how virtual payments can make the corporate travel management more effective. Transactions are Comprehensive Corporate travel is expensive, so tracking every ...

Pain Points of Manual Expense Report Management Expense reports are one of the most exaggerating aspects of an organization. As the company grows, the number of expense reports also increases and expense fraud will cost you a huge money and time. Auditors in the finance department that need to audit expense reports face challenges in every phase of the reporting ...