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, and processes, AP department can […]
Unlocking the Benefits of AP Automation Read More »
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 the overall process. Here is
3 Best Practices for Managing Expense Report Process Read More »
There are five stages of Travel and Expense Management (TEM) that correlate to an organization’s lifecycle. As the company grows by the workforce, product lines and geographically, inefficient TEM processes would result in decrease productivity, revenue, and employee dissatisfaction. So, here are the five stages for effective travel and expense reporting that will help you
5 Steps for Effective T & E Management Read More »
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 visibility into spending and handling
Sorting out Corporate Travel Challenges Read More »
Organizations need visibility into employee spending, no matter how small or big the spending is. Expense management has become the most challenging job for companies today. With increasing number of employees making purchases from their smartphone, businesses that are not using an automated expense tracking solution are left behind as they grow. While expense management
Travel and Expense Solution to Help your Small Business Cut Costs Read More »
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 Automating processes in place can
5 Ways to Increase Business Process Efficiency in SMEs Read More »
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 view on relevant processes across
Effective Spend Management Tips for Businesses Read More »
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 are increasingly relying on mobile
Making Corporate Travel Better for Businesses Read More »
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 helps improve visibility over the
Preventing Business Expense Fraud – Part 2 Read More »
With increasing expenditure, organizations should look for effective ways to manage expense reporting process to reap benefits. Unfortunately, many businesses continue to face challenges in their Travel and Entertainment (T & E) procedures. Challenges include data entry, inefficient processes, lack of visibility and T & E policy compliance ranking as the highest. Inefficient travel and
Automation to Overcome Travel and Expense Reporting Process Inefficiencies Read More »
