Spend management, which involves sourcing goods and services, setting contracts and paying suppliers, impacts every employee in the company. As employees have to buy things that they need to do their jobs, they interact with every part of the spend management process. To maintain efficiency and agility, the spend management process has to be fast and easy. According to a ...

It is always important to know the company policy for expense management. In some cases, you use a company credit card, whereas, for some, you may have to use your personal credit card and submit the expenses for reimbursement. As each company has a unique T & E policy, you have some important things to note: Understanding is Important Asking ...

Here are some new features of the latest version of SutiExpense that will enhance user experience in working with the application:   OCR technology is used to read the receipt data and the read data can be edited if required. You can add transactions made from your personal card to your expense report. This enables you to use a personal ...

Whenever the finance team encounters a problem, they check through a number of forms and receipts to search fraudulent and exaggerated expenses that pose compliance risk. As this requires a lot of time and resources, many organizations simply accept minor errors and expense fraud. But, most of the problems are caused by reliance on traditional paper-based processes. However, the emergence ...

Although corporate card programs make corporate spend better and easy, they still leave a number of hassles for cardholders and administrators when you consider expense reporting. Companies that tied up with corporate card programs can now review, approve and pay corporate card expenses in a just a click away. However, the following are some risks associated with corporate credit card ...

It is obvious that automating expense procedures prevents expense fraud. The truth is that expense fraud is associated with other kinds of business fraud, which means it is evident that evading expense fraud can cut down business fraud. Apparently, fraud costs around 5% of business revenue. Around 15% of fraud cases are related to expense fraud. Therefore, finding where employees ...