Enterprises can enhance their productivity and profitability with effective procurement processes. With strategic outsourcing, continuous improvement, and smart spending management, the procurement department can help the procurement process be a strong value center that supports company growth. But, managing every function of procurement with the traditional methods can be tedious and costly. Fortunately, advanced procurement solutions automate most of these ...

In today’s technologically driven digital world, most enterprises are investing in expense management solutions to automate their business processes and enhance overall productivity. With an average of $1.3 trillion spent solely on corporate travel expenses worldwide last year, organizations are trying to gain full control over their expense budgets. The software streamlines tedious and time-consuming processes, while freeing-up employees to ...

Whether a startup or a large enterprise, every penny counts in any kind of business. You must keep track of company expenses in order to control the finances and enhance profitability. Inaccurate data and miscalculated costs can have a negative effect on your business finances if not instantly resolved. If your organization is still managing expenses manually with paper receipts ...

For many employees, corporate travel has become a significant part of life. Today, more than 45% of organizations have a labor force that travels at least one week per year. The rest 28% of companies noted that their staff travels at least four weeks every year. With so many business-sponsored trips taking place, managers and corporate travelers should have an ...

The manual process and legacy systems do not meet the needs of modern businesses. It is essential to track and record every expense to identify pitfalls, avoid unnecessary expenses, and cut down the costs. According to the Aberdeen Group, managing expense reports manually is costing $41.12, while an automated expense report would cost $7.17. Creating, processing, and approving expense claims ...

Managing corporate travel expenses is the biggest headache for small-to-medium enterprises. New insights into expense reporting revealed that employees are feeling more pressurized for handling business expenses. Number of hours are being spent in managing expenses, which can be spent on important business activities that would result in improved work-life balance. This is going to be a negative impact on ...