It is clear that business travel is the key to organizational success but involves a lot of complexity while managing the process. Apparently, US companies are spending around $290 billion dollars on Travel & Expense (T & E) every year. Corporate travel has become the core piece of any company, but organizations should have a […]
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Companies can take numerous approaches to resolve common expense reporting headaches. Though some approaches may cost money, it can save companies time and money in the long run. The following strategies are certainly useful for travel managers or accounting departments that handle corporate travel. Expense Software to Resolve Your Expense Reporting Problems To gain visibility
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Surely, there is a need for expense report software to manage corporate travel when you have hundreds of employees flying across the world. Simply implementing a decent travel policy will not help – there are too many people traveling and too much spending occurring. Luckily, having an expense report software solution can help growing companies.
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Are you falling behind in your expense management? Erroneous manual processes will take up a lot of your finance department’s time. Automated expense management solution is what your business needs to gain control over spending. Businesses of all sizes have expense reports and need to have a system in place to monitor spending. Spreadsheets replaced
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In any company, there is a chance of fraud if there is any type of employee reimbursement program. So, how do you fend off fraud before you get a handle on an expense management program? Go Apps There are apps for anything and everything in between, from transportation to booking hotels. While applications make life
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Marketing is a top priority for businesses. No matter how innovative your business products and services are, without the proper marketing strategy it’s impossible to reach the right target audience to sell your company’s products and services. Today’s business competition has reached cut-throat levels and marketing professionals need to strive hard to keep their brand
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As Travel and Entertainment (T & E) expenses represent around 10-12% of company’s overall expenses, businesses are increasingly realizing the importance of having expense report software in place. Lack of visibility into business spending, lack of control, high processing costs and lengthy reimbursement times are some of the biggest problems businesses face with respect to
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Although many technological advancements are occurring in expense management, expense fraud is still a common problem in organizations. Citing the Association of Certified Fraud Examiners (ACFE) report, around 14% of fraud in companies account for expense reimbursement, which is the third most common fraud happening in companies. Though companies employ trustworthy people, every employee has
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Although every company understands the importance of business travel, businesses look at travel expenses by the end of the year. Corporate travel managers look for ways to minimize business travel expenses but enforcing rules alone will not always work. You have to follow certain strategies to manage corporate travel as a strategic investment and maximize
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If you are reading this, maybe your employee expenses are taking a toll on your business. Thinking about your business financial health is very important, but it isn’t enough to just see where your employees are spending. Tracking your spending on a regular basis will help you get an accurate picture of where your money
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