Undoubtedly corporate travel space has gained significant traction over the past few years. There is a strong correlation between professional and personal life, which is a major driver of corporate T&E management. A recent report revealed that there are three distinct trends that are shaping the face of T&E management. Mobility Most travelers are demanding […]
What’s Driving T&E Software – A Quick Glance Read More »
Cloud is one of the best transformations that businesses experience today. Cloud technology has revolutionized the landscape of the finance industry, including expenses. Around 93% of organizations have switched to cloud technologies due to the following reasons: Saves time & money Cloud is more economical – both in terms of cost and time. The demand
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Defining an expense policy requires you to balance the fine line between cutting down unnecessary costs and setting a policy that is reasonable for employees and managers. Creating a sloppy policy will end you up with increased travel costs; on the other hand, a stringent policy will result in impractical limitations, unhappy travelers and increased
Creating an Expense Policy that Helps Read More »
Like other business tools, an expense management system should make everyone’s job easy. Travel managers have certain requirements that a T&E solution should meet. Your business requirements can be met if you choose an expense solution that has the following five features. Intuitive interface Travel managers are responsible for providing training for employees, and hence
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Technology has revolutionized the way business processes work. A part of it is intelligence capture technology, which is a rule-centric and data-centric approach, wherein invoice settings for all the countries, currencies, tax rates, and business rules will be entered into the system. Automated accounts payable software would extract key information such as invoice number, date,
Giving Accounts Payable the Business Intelligence Touch Read More »
Are you sure your employees are complying with your corporate T&E policy? If you are unsure, this is the right time for you to act seriously as non-compliance with your corporate T&E policy will result in many problems over time. Besides considering expense management software, the following are a few steps you have to take
Important Checks to Prevent Your Travel Expense Management from Going Out of Control Read More »
Controlling expenses is very important in any company. It would be easy for you to go beyond spending limits if you don’t follow certain regulations. There are two methods to choose from while reporting expenses: fixed per diem or actual expenses. Business travelers can submit receipts to report the incurred cost of the expense. Let’s
Fixed Per Diem & Actual Expenses: What to Consider? Read More »
Getting quick approvals for the expenses submitted is important to speed up the reimbursement process. Hence, while choosing online expense report software, you need to evaluate how the system works in terms of expense submission and approval. In fact, you have to pay attention to what features the solution offers, such as: Mobile app Employees
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Travel expense management is crucial in every business; doing it the right way can really enhance the workflow. There are various strategies that can help you manage your T&E processes effectively. Some of them are as follows: Plan reimbursement strategy There are 3 ways companies pay their employees, they are: Per Diem This is the
Best Strategies to Improve your T & E Management Process Read More »
Business expenses matter greatly, right? Business owners realize this and agonize over every penny being spent. However, as the business grows in size, you will no longer be able to watch every dollar. The following are a few tips that help your company control costs as your business expands: Purchase consolidation & price negotiation Validating
5 Easy Ways to Cut Business Expenses Read More »
