Travel and entertainment (T&E) is one of the leading controllable indirect expenses for a company. By making audit an easy step of the expense reporting process, an organization can minimize fraud before it causes major loss. Organizations are looking for effective and cost-efficient methods to control expenses, and a solution that can streamline all of […]
Role of Audit in Expense Management and Its Benefits Read More »
Have you ever checked how much your company is spending on accounts payable processes? You must take several factors into consideration such as time spent on invoice reconciliation and management, and any late fees or interest charged due to delayed payments. With all those factors, the costs will add up. However, many of these costs
The Business Value of Automating your AP Procedures Read More »
Corporate travel is a great way to grow your business but can detriment if not managed efficiently. If your accounts department is chasing employees or losing thousands of dollars, then most likely, you should consider your cash flow. To help you, we outline a few tips to improve your overall expense management. Restrict Expense Accounts
Cutting Corporate Travel Costs Read More »
Businesses are increasingly spending more on travel and entertainment business expenses. On average, around 10% of the annual revenues account for business travel. The time and cost of expense report processing exceed $100 according to the Global Business Travel Association (GBTA). This is the result of: Accounting Departments are Overwhelmed Accounting departments are asked to
Saving the Bottom Line with Expense Report Automation Read More »
Technology is making our lives more manageable by allowing corporate travelers to book online in just a few taps on mobile devices and flight check-ins. Traditional business travel and leisure trips used to be more paper-based. Travel Booking Can’t be Done by Yourself Today, travel booking engines have changed the way you book travel. Whether
Business Travel – Why Technology is Boom Read More »
Most business aspects are digitized to improve the efficiency of the processes. Corporate travel management is one area that is falling behind the technological advancements. Businesses have started adding virtual payments to the accounts payable life cycle. Let’s see how virtual payments can make the corporate travel management more effective. Transactions are Comprehensive Corporate travel
Eliminating Business Expense Fraud with Corporate Cards Read More »
Inefficient expense management system can leave a huge impact on accounts payable, finance, and employees. The following are some of the common problems your organization will experience due to inefficient travel and expense management system. Toting Around Paper Receipts Every employee will experience the problem of losing a receipt or misplacing it somewhere. Employees have
Signs You Should Go For Travel and Expense Software Read More »
Pain Points of Manual Expense Report Management Expense reports are one of the most exaggerating aspects of an organization. As the company grows, the number of expense reports also increases and expense fraud will cost you a huge money and time. Auditors in the finance department that need to audit expense reports face challenges in
Pain Points of Manual Expense Report Management Read More »
Businesses find it difficult to use expense data when it is inconsistent and incomplete. It is also a challenge for them to make appropriate decisions or to negotiate better deals, without aggregate spend data. Inconsistent and incomplete data can affect a business culture and its bottom line. Organizations should implement automated systems to get better
How to Use Expense Data as a Powerful Asset Read More »
Eliminating Corporate Travel Ambiguities with Travel & Expense Software Knowing the difference between what is a travel expense and what is not should be easy. Unfortunately, this might seem difficult in real-time. Employees should understand what is clearly considered a business expense before submitting a claim. Getting to know any gray areas along the way
Eliminating Corporate Travel Ambiguities with Travel & Expense Software Read More »
