The majority of employee spending that happens while on a business trip is easy to track, review, and approve in an expense report. Some cases such as taking clients for a dinner or purchasing some products required to get the job done – all these can be easily tracked with
When it comes to direct spend, there are so many controls in procurement and accounts payable. The purchase of goods depends on the company, however, to run the day-to-day operations of the business, you have to effectively manage the indirect spend. Insights on indirect spend are lacking due to decentralization
Getting the best deals, booking the flights and stay – all of these come to your mind when you think of business travel. You have to look in a number of booking portals to get the best deals, save your itinerary details and then send them to your approver for
The expense approval process itself is a lengthy and time-consuming one; no employee would like to have any surprises in between that delay the process further. In fact, there are some scenarios that may delay the reimbursement process such as absence of your approver. This is one of the common
Finance teams face significant challenges while figuring out fraudulent expenses. As a lot of resources get involved, it has become easy to accept some kind of dishonest acts. That’s why most companies are switching from paper-based set-ups to expense management solutions. However, finance professionals have got a more powerful weapon
From SMEs to MNCs, every business incurs expenses and operational expenses are a part of everyday business. Knowing where to start to cut expenses is the key. Most companies allocate some portion of their annual budget to travel and entertainment expenses. As this is one of the biggest spend for
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