Traditionally, organizations treated their business travel management and expense management as two completely different entities, sometimes to the extent where both processes were managed by two different departments. Not only is this process cumbersome and time consuming but it also leads to the creation of fragmented data silos which further
Whether you are selling a product or a service or whether you are a huge enterprise or a small startup or a freelancer, you have to bill your client, which normally takes the form of an invoice. The traditional method of creating and sending invoices involved spreadsheets and paper. Some
Effective supplier management is one of the bedrocks of an efficient supply chain. Every organization, regardless of the service or product it offers, has to procure raw materials from its suppliers who could number from one to, in the cases of manufacturing or pharmaceutical companies, several hundreds or thousands. Supplier
It’s an age-old practice that will never go away. Salespeople have to travel and their company has to reimburse them. This reimbursement is largely based on the expense reports that the employees submit and the receipts they attach to validate their expenses. In some cases, employees may unintentionally send duplicate
Finance teams processing expense reports manually lose hours every week to tasks software should handle automatically. Employees submit receipts late, miscategorize expenses, and leave approvers waiting. By the time the data reaches accounting, it requires correction, follow-up, and rework before close can begin. Online expense report software removes the recurring
Employees need to travel on business, and more importantly, they have to collect receipts for the expenses they have made in order to create an expense report and claim their expenses. Say you have been sent on a business trip. If you forget any of the receipts, you might end
Any organization needs to purchase raw material in the form of goods or services to run their business operations. Generally, there is no shortage of suppliers in the market and organizations look to procure their supplies from the supplier who can offer them the best terms in terms of price
A cloud-based solution to manage business expenses is less time-consuming than manual expense report processing. It eliminates the need for collecting, storing, submitting, and tracking cumbersome paper expense reports and receipts. Online expense report software is an online expense management portal where all these processes are automated. It helps you
The ‘lean’ approach, through which organizations identify and eliminate those activities that do not add value to the process from their customers’ perspective and hence dubbed ‘waste,’ is getting more and more takers as organizations have realized the benefits it has and the improvement in productivity it can bring. Lean
Missing payments from clients is never fun but it somehow seems to find a reason to happen, sometimes because of your own doing. Maybe you didn’t have time to follow up with your client or forgot to send the invoice in time. Or maybe you forgot about the invoice for
The Wireless Expense Management (WEM) space has seen a lot of growth in the recent past with an increasing number of organizations understanding the need for and benefits of keeping track of their wireless device assets and wireless spending, preferably from a centralized location. The increasing presence of mobile devices
E-procurement is emerging as the answer to all the procurement needs of an organization and as more organizations see its benefits, it is gaining increased adoption and deployment. However, there are a few myths doing the rounds that are making organizations apprehensive about online procurement. It’s time to bust a
Electronic document management solutions allow organizations to streamline and automate their entire document management process by providing them with a central repository to store and organize documents. Using a Document Management Solution, you can create/share/retrieve/modify/edit different documents and maintain versions of each of them. However, document management solutions are much
Cloud computing and Software as a Service (SaaS) are today gaining more and more acceptance and adoption. By clearly highlighting the various benefits of the SaaS method of delivery, service providers have succeeded in gaining customers. Today, there exist millions of software applications in the marketplace, and customers have a
Online invoicing, originally viewed as a solution designed for small businesses to save their time and money, has found widespread acceptance and is now being used by organizations of all sizes. The software offers simple, ready-to-use templates that can be customized by anyone quickly. Users just have to enter their
Online procurement or e-procurement is a web-based procurement management system that accelerates and automates the procure-to-pay cycle. It is gaining wider adoption as organizations see the benefits of shorter procurement cycles, increased visibility into spending, and a streamlined procurement process. One of the most important goals of a procurement division
In Part 1 of this series last week, we showed you how you could take several measures to reduce your organization’s overall expenditure. Here are some more measures you can take to reduce your business expenses: Seek alliances/partnerships. B2B expenses take up a huge chunk of any budget. This is
For any organization, procurement is arguably the most important support function as it impacts almost all the major strategic functions. Almost every department is dependent on the procurement division procuring the necessary resources to carry out its day-to-day activities. This has made organizations look at procurement itself as a strategic
As the old adage goes, ‘A buck saved is a buck earned.’ For your business to turn a profit, it is as important to reduce expenditure as it is to increase income. Just as salespeople and marketers come up with newer and innovative ideas to sell your product, you have
Gone are the days when procurement was just a division that dealt with ordering and procuring goods and services to satisfy internal business requirements. Organizations today are closely monitoring their procurement departments as they have realized their importance and the need for continuous improvement. As a result, procurement has gained
The current pain point confronting many small and mid-sized businesses is data distribution. Many documents are created daily and exchanged among various employees, sometimes resulting in the loss of documents, inadequate security and version control, and document duplication. Paper consumption, which just ends up as waste in vertical industries is
Most organizations operating in the healthcare industry in the United States are struggling with the implications that have emerged from the implementation of the new Physician Payment Sunshine Act. Every company has some kind of a system tracking their professional spend. Unfortunately, most of the current available systems are not in
Turning green is not just about being eco-friendly but being eco-friendly while encountering sales at some point. For any business owner or freelancer, keeping track of sales invoices and payments is a tedious task. Now say no to paper bills and get online invoicing that simply blows out all billing-related
Automating rote business processing tasks is a hot topic among small and mid-sized businesses heading into 2014 because their options for achieving automation affordably (and without a lot of upfront IT work) are proliferating with the increasing availability of SaaS-based solutions. Gartner predicted that by 2015, fully 55% of SaaS
Many small and mid-sized companies are mainly focused on two key areas: managing expenses and growing revenues, which will in turn help them grow their businesses. Spending happens in every aspect of a business and is common for individuals, departments, and executives to manage their travel itineraries, expense report submissions,
How many different personal devices are your employees now using to conduct company business? Are they demanding a wide range of access points to company data? Giving access and protecting data conflict as IT mandates, but SaaS-based software offers some advantages that help meet both needs. As we have written
If math is not your strong point, Excel may save you from addition errors, but an excel-based expense reports in a spreadsheet is only as accurate as the information you type into it. And lots of us have trouble with this seemingly simple task of entering the right numbers into
Ever since Just-in-Time manufacturing processes took the manufacturing world by storm in the late 20th Century, relationships between suppliers and their customers have become a strategic imperative for enterprises that wish to continually innovate product and process development. Somehow, though, the folks running the day-to-day relationship between the two parties
Are you the typical business traveller frustrated by the piles of crumbled expense receipts waiting to be classified, filed, and submitted at the end of every trip? Or perhaps you have an expense solution that allows you to scan your receipts but only one at a time. Well, there is
We were presented with a comparison chart from a competitor by a prospective client recently (who is considering our SutiSign product). The chart certainly attempted to present their product in the best possible light, but it motivated us to explore what we felt were skewed assumptions that did not help
