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
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
Every year, you look at trends for how to manage business processes better. Accounts payable processes is one key functional area in business that still needs perfection. One technology that is helping business with accounts payable is the cloud. In 2016, most businesses have adopted cloud technology, making it easy
While every business wants to automate back-office processes, the ultimate goal is to control invoice and spending processes. Automated accounts payable processes allow organizations to improve processes instead of depending on manual efforts. Automated accounts payable software not only controls the invoice routing process but also reduces processing times, decreases
From SMEs to large enterprises, it is important for every business owner to understand the industry landscape and current economic conditions to make their enterprises successful. Small businesses can be overwhelmed with growing expense pain points; however, a few tips can help them grow in terms of return on investment
Expense report software is used by most companies to manage and audit business expenses. As technology continues to grow, the tool helps businesses manage employee expense reports efficiently. Growth patterns As per the recent forecast by Technavio, the expense report software market will grow annually at a rate of 6.96%
To stay on the top of cash flow and plan your spending effectively, it is essential to make informed decisions. When you automate expenses, you will end up with valuable data on various areas. This data will help you get a clear and accurate view of the company’s spending so
When you are in a growing phase, it is easy to lose sight of the big picture. Everyone will be busy dealing with day-to-day activities and it will become difficult to find time to evaluate the direction of travel. Employee expense is one business area where it can really pay
Expense management is not just about employees preparing expense reports, gaining approvals, and getting reimbursed. There is a lot that goes in the background – analysis, forecasting, auditing, and so on. Organizations around the world are not just satisfied with the initial verification, which sometimes happens just at random. Not
Whether you own a large business or SME, you probably make deals beyond borders to extend your company globally. When your company expands, a lot of things need to be aligned to make the transition of expense management smooth. Fortunately, cloud-based expense software can help, no matter where your employees
It’s a known fact that you as an employee or an employer face certain problems with expense reporting, but the fact is, it is your accountants department that experiences the real problems of the expense reporting. Being at the top of the game, accounts department is finding it difficult to
Financial managers are expected to have greater control and visibility over the entire procure-to-pay processes. As the P2P process is one complex business process, businesses need to take an integrated approach to free up working capital and create more agile finance operations. This can be achieved by making e-procurement and
Although AP is not the key focus of CFOs’ day-to-day activities, leveraging the power of AP automation can turn this department from a cost center to a revenue generator. However, CFOs should consider four things to realize the full value that accounts payable software brings to the business: Take advantage
Just as your employees fit in your company culture, your corporate T & E policy should be geared to fit the same. Having a well-written and clear expense policy makes it easy for employees to understand and prevents frustration, mistakes, and best of all, fraud. As corporate travel policy provides
“Better choice” implies a comparison, so let’s be specific about what cloud expense management is being compared to. When a company evaluates how to handle employee expenses, there are really four options on the table: Each one can technically process an expense report. The differences show up in what each
In this digital era, the usage of smartphones is increasing day by day. Earlier travelers used to take piles of documents such as tickets, itineraries, and maps with them, but now mobile phone and passport are the only essentials for a business traveler. Innovation is making travel simple and more
While an automated expense management system can ease life for business travelers, it can also do wonders for finance and accounting departments. Not every expense system has this capability, hence you need a platform that can integrate with the finance and accounting system. Finance and accounting features Finance and accounting
To manage expenses effectively, businesses require a new wave of approaches that can handle the complex spend category. Besides having end-to-end an expense management system, organizations should align certain processes and adapt certain strategies to drive value out of expense management. Process management, knowledge management, and performance management are a
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
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
It might appear obvious, however without a carefully crafted wireless use policy, an organization stands minimal chance of gaining control over its mobile expenses. The spread of smart devices in an increasingly mobile workplace makes the necessity for a wireless usage policy all the more urgent. By instituting a carefully-crafted
Wireless rate plan optimization refers to the analysis of each type of wireless service, including contract discounts. To get the best wireless rate plan optimization, a more profound analysis on wireless services including wireless rate plans & wireless pooling plans is required to compute discounts and estimate usages. To compare
Today, businesses are grouping different types of expenses under the T&E umbrella. To make expense management more strategic, its three pillars such as spend, procurement and invoicing have to be consolidated into a single function, aligning much in the way we have combined our various forms of communication with one
Cloud is one of the best transformations that businesses experience today. Cloud technology has revolutionized the landscape of the finance industry, including expenses. Around 93% of organizations have switched to cloud technologies due to the following reasons: Saves time & money Cloud is more economical – both in terms of
Like other business tools, an expense management system should make everyone’s job easy. Travel managers have certain requirements that a T&E solution should meet. Your business requirements can be met if you choose an expense solution that has the following five features. Intuitive interface Travel managers are responsible for providing
Technology has revolutionized the way business processes work. A part of it is intelligence capture technology, which is a rule-centric and data-centric approach, wherein invoice settings for all the countries, currencies, tax rates, and business rules will be entered into the system. Automated accounts payable software would extract key information
Travel expense management is crucial in every business; doing it the right way can really enhance the workflow. There are various strategies that can help you manage your T&E processes effectively. Some of them are as follows: Plan reimbursement strategy There are 3 ways companies pay their employees, they are:
Business expenses matter greatly, right? Business owners realize this and agonize over every penny being spent. However, as the business grows in size, you will no longer be able to watch every dollar. The following are a few tips that help your company control costs as your business expands: Purchase
Most business travelers are using corporate credit cards for business transactions today. By using credit cards, business travel expenses can be quickly and easily managed. Apart from this, credit cards ensure secure transactions and give credibility to business transactions. Also, the usage of credit cards will ensure T&E policy compliance
