According to Winston Churchill “Success is not final, failure is not fatal: It is the courage to continue that counts.”When directly providing a quote, a source is required. Winston Churchill What is hub? “Social media is creating quite……….” Social media hub is an overview of all the activities happening on
Business traveling still occupies a major role in several corporate organizations as it yields various benefits to companies. It helps enterprises in a new business expansion, meeting new clients in person, scoping where to market your business, learning about new trends and markets, and analyzing how others are conducting the
A recent study revealed that around 50% of companies receive invoices by paper and 36% by email, relying more on manual work – not to mention the time spent in correcting mistakes that can slip through when invoices are processed manually. The challenges you have experienced by manual invoice processing
Many organizations struggle to balance between cutting costs and growing their business. Most often companies overlook daily activities when thinking about cost savings. The cost of manual processes will end up costing more to companies. That is why automating low-value tasks is important. Expense management is one such task that
Getting more insight into submitted expenses can help you make informed decisions in a timely manner. Automated expense report solution can help you get a quick view of business spending. Gaining insights is a powerful way to drill down your business expense reporting data and analyze the data. Featuring intuitive
Writing expense reports is a tedious job for anyone and manually managing them not only waste hours but also cost businesses more money. While expenses are unavoidable, spreadsheets, paper receipts and hours of manual data entry is avoidable if the process is automated. Around 80% of organizations are relying on
Organizations, regardless of size, require some amount of business travel. Travel programs can help expose the value across travel spending and productivity. Giving businesses basic tools, access, and visibility needed in Travel and Expense (T & E) reporting can help reduce travel and expense costs. Furthermore, using a cloud-based travel
Accounts payable is there in every company, but not every AP department adds strategic value to the company. No matter whether it is inefficient paper-based process or complex legacy systems, AP will spend much of its time in data entry and solving escalations. However, with right investments in people, technology,
Business travel can be a revenue generator or a money drain for companies. The challenge of doing everything from filing expense reports to reimbursement is it takes more time and effort. The key is to ensure you follow industry best-practices to save you time, money and improve the efficiency of
Expense reporting headaches can be solved in a number of ways. Some approaches may need some investment but can save the company time and money in the long run. Here are a few ways how businesses can handle expense reporting challenges. Using Travel and Expense Software To deal with poor
Process inefficiency can result in many problems in small and medium sized businesses. Ensuring efficiency is even more critical because errors can result in steady drain on revenue and can hit at any point. So, how to maintain process efficiency? Here are a few steps to take: Automate Every Process
Managing business spend is very important for organizations that mainly deal with purchasing and procurement. From selecting suppliers to set up contracts, businesses should have a holistic view of procurement enterprise-wide. Spend management goes beyond procurement requiring business units and finance departments to align around spend categories. Getting a comprehensive
Technology is making business travel even easier by providing numerous ways to book travel and make cost-effective decisions. From booking tools to integrated expense report solutions, technology is playing a key role in every part of corporate travel and taking the hassle out of travelers. Mobile-driven Business Travel Business travelers
In continuation to our previous post, this article outlines some more strategies to prevent expense fraud. Let’s take a look at some of the best strategies: Mandating Pre-approval Process Pre-authorization reduces the possibility of expense fraud. Pre-approval system works in conjunction with a corporate card or travel booking solution and
Understanding business expense management is very important for organizations looking to scale-up. Systems and processes should be in line with the business needs during the scaling process. Employee expense management is an area where companies get stuck on all the time. Traditional processes make it difficult for companies to effectively
Switching to automated Accounts Payable (AP) solution alone will not take the burden off of your AP department. In fact, everyone who is involved in AP procedures has to understand what goes with making the switching. Understanding the benefits of AP automation will make sure that users can quickly adapt
SutiSoft now has the ability to group all solutions together into one platform – Spend platform, HR platform, CRM platform, and WEM platform. All these platforms are unified solutions that incorporate all web applications into a single offering. The idea behind forming these platforms is to give businesses centralized access
There is no doubt that technology is helping businesses pick up the pace and stay competitive. Getting a handle on cashflow and expenses makes your business better. Fortunately, technology can help track your cashflow and offers the visibility you need to make strategic business decisions, opening up new opportunities to
Companies are under increasing pressure to manage their spending and quickly adapt to ever changing business conditions. The benefits of using an integrated solution are many – this approach will not only provide the visibility you need into spending but also puts less stress on your staff. Plus, no one
Automating accounts payable (AP) invoice process will not only provide real time insight into the data but also allow AP staff to quickly review, process, and pay invoices on time. Reducing processing and payment turnaround times to enable companies to take advantage of early payment discounts and streamline the process
Today, businesses are increasingly turning to automate their Accounts Payable (AP) processes. However, you have to carefully evaluate your business requirements before choosing the right software. Here are three key features you should look for in AP software when purchasing the solution: Invoice Capabilities Getting paid on time is very
Expense management might not be the hot topic within your company, but having an expense reporting system can save you a lot of time and money. Recent survey from ACFE revealed that businesses lose 5% of its revenue due to fraud every year. Expense fraud mainly happens due to non-compliance
Many large enterprises have manual processing of routine transactions, where a lot of time and effort are required. Sometimes, these manual calculations may also be misread or misinterpreted. Automated Spend Management systems not only ease your transaction process but makes processes way cheaper. Large global enterprises have millions of categories
Organizations of all sizes look for a simpler way to manage orders, review purchases, and get some insight into where spending is occurring. Having a purchase order system can help deal with purchase orders and make sure appropriate payment are made and inventory stays accurate. With hundreds and thousands of
So, you have switched from manual to a new expense management system. How do you determine it is benefiting your business? Although everything is going smoothly, how do you know whether the transition is successful? Here are a few expense management Key Performance Indicators (KPIs) that help you benchmark yourself
Business travel is equally as important as customer relationship. To expand your business, drive sales, and boost revenues, sales representatives have to travel. With employees traveling frequently in a month, it can be difficult for businesses to capture data to demonstrate the return-on-investment of their business travel. Not capturing business
SMEs can do better with the SaaS model. Cloud-based systems will make it easy to input data from multiple devices. Storing sensitive information on your local machine is not the best practice. Cloud-based accounting system has high-security protocols in place, making it difficult for hackers to access. SaaS vs. Installed
It is the Accounts Payable (AP) department that handles cash flow within the organization. There might be a lot of circumstances where mistakes can happen. The good news is that most of the mistakes are avoidable by following some of the best practices. Here are a few best practices that
Business travel has experienced many changes since the launch of the mobile application. Given the major changes in the industry landscape, it is easy to overlook how mobile has changed the business travelers experience over the last few years. The advent of mobile-optimized and cloud-based enterprise applications has made travel
Companies are looking for more practical ways to save money on business travel. Corporate travel has become a strategic investment with expected returns, so it is best not to take a penny-wise approach for travel and expense management. Most businesses often overlook the costs associated with business travel, which can
