Business travel, expense, and invoice landscape has been experiencing a rapid change due to emerging technologies, increasing employee expectations, and globalization. Let’s take a look at the travel and expense trends that will shape businesses in the upcoming year. Paper-Based Expense Reports Have Gone Extinct As technologies become more integrated
Employee initiated spending can happen in many ways. Therefore, it’s time to rethink your company’s strategy to thrive in today’s business environment. Automating your finance procedures is an important step and research shows that expense report automation is the key to business success. SMBs recognize the need to improve overall
Employee spend management is the most tedious process within company functions. But, the process is always being overlooked when it comes to updating and revolutionizing. Organizations fail to understand that effective expense management is the best way to reduce costs and ease the job of doing business. Employees are frustrated
Mobile applications are the real game changer that has transformed the way businesses control employee costs. Cloud technology complemented with smartphone applications is the real modern breakthrough. The advantage is the ability to convert paper receipts into a digital format through capturing from a smartphone. This process allows businesses to
A well-defined expense policy can save resource time, while protecting against fraud and compliance breaches. An expense policy should outline how to handle business expenses, guide employees what can and cannot be claimed, and clearly state what happens if employees make out-of-policy expense claims. Not understanding expense policies is one
The lack of accurate information is just one barrier to effective expense management. Using traditional methods such as paper and spreadsheets to process reimbursement requests can be a hassle. Traditional methods make the system inefficient and makes the process more complicated than it needs to be.The finance department is liable
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