Working closely with staff requires you to manage their day-to-day activities, including the claims they submit. Therefore, when fraud occurs, it is imperative to identify what exactly the reason is and where it is happening. In fact, around five percent of revenue is lost to fraud every year. So, what

Employee spend management is the most tedious process within company functions. But, the process is always being overlooked when it comes to updating and revolutionizing. Organizations fail to understand that effective expense management is the best way to reduce costs and ease the job of doing business. Employees are frustrated

Mobile applications are the real game changer that has transformed the way businesses control employee costs. Cloud technology complemented with smartphone applications is the real modern breakthrough. The advantage is the ability to convert paper receipts into a digital format through capturing from a smartphone. This process allows businesses to

A well-defined expense policy can save resource time, while protecting against fraud and compliance breaches. An expense policy should outline how to handle business expenses, guide employees what can and cannot be claimed, and clearly state what happens if employees make out-of-policy expense claims. Not understanding expense policies is one

In this ever-changing business landscape, small businesses are facing significant challenges to thrive in this day and age. Every penny counts, and managing your penny is very important. If you are manually tracking business expenses, you are probably missing out on opportunities due to lack of visibility and inefficient processes.

Searching through stacks of paper even after automating the process is not an efficient method. To figure out where the invoice process is going wrong in the various stages of the approval cycle, you really have to take an in-depth look. Automating the expense process is not enough; you should

This year, 2018, has already shown a great start for SutiSoft, as SutiExpense has been ranked as one of the highest rated expense solutions by G2Crowd, a popular business software review platform. G2 Crowd rated all cloud-based expense solutions based on user satisfaction, and SutiExpense has been ranked one of

In any organization, happy employees are critical to business success. Often, companies put forth various employee satisfaction programs and offer incentives to make employee life better but one thing that bothers employees and negatively impacts the retention rate is expense reports and the reimbursement process. Recent studies revealed that expense

Choosing expense report software goes wrong in a predictable way. A company watches a good demo, likes the interface, checks the price, and signs. Three months later the tool cannot handle their approval chain, the “integration” turns out to be a CSV export, and finance is back to manual work

In any organization, expense reimbursement fraud can happen in a number of ways. So, which type of organization is most vulnerable and what are the best practices organizations can adopt to reduce the risk of fraudulent claims? Fraud can happen even in organizations with company wide expense reimbursement policies. If

There is a startling difference between the amount of money spent by businesses using a manual process to the ones that use a fully automated expense report system. Here are a full set of reasons how expense report software will overlook the challenges of manual expense reporting system: Security With

Businesses can enforce a variety of strategies to resolve common expense reporting headaches. Although some approaches may cost money it can save company’s time and money in the long run. The following strategies might help travel managers or accounting departments that deal with reimbursement process. Customized T & E software

Tracking business trip expenses means tracking every penny employees spend to support their activities. Most businesses trust employees on the reports they submit, but few of them have the intent to submit fraud claims. However, with expert-recommended policies, you can ensure that expense reports submitted are legitimate. The following are

Recent studies reported that increasingly many employees have found a way to forge the expense reimbursement process. The question that arises is there any way for organizations to control such fraud behavior of employees. Technology can help organizations measure and quantify the spend to control fraud from happening. Trends in

Are you planning to purchase expense management solution to keep track of day-to-day corporate and business travel expenses? If yes, then it’s time to consider a wide variety of factors such as cost, amount of flexibility, integration features, scalability, mobile capabilities, ease of use, deployment options, business value, and more.

As companies work to cut down costs and ensure every penny spent on their travel budget is well accounted for, they are emphasizing more and more visibility and greater control over their travel expenditure. Increasingly, companies want a centralized system that offers seamless integration between travel booking and expense management.

Most times expense fraud happens in mileage claims as we simply rely on employees to provide estimates of distances traveled. Usually, employees who submit expense claims will round-up travel costs. Exaggerated mileage claims are one of the main causes of expense fraud with around 40% of employees submitting. The need

To thrive and succeed in business, companies need to have a better control over cashflow. By understanding when, where and how employees spend money, companies can manage spend, reduce human error and plan for a better future. This works well especially for small businesses that often have limited cash reserves.

3 Ways for Efficient Expense Management Finance department gets countless expense reports. Processing and quickly saving expense reports into the accounting software would require you to spend more time. This is how expense management looks like in most organizations which, if you are managing this way, you will not have

Time and money are the two most important ingredients in running a successful business. The more you save time and money, the more you can grow your business and earn high profits and revenue. The electronic signature software is a powerful medium to save time and money and skyrocket your

Generally startup companies venture into business with a handful of customers and during that time, it’s easy for a startup to provide great customer service, as they manage a smaller number of customers. But when your business starts to grow and your customer base increases to thousands, it can become