Regardless of whether it is office supplies or business travel, employee spending is an unavoidable and difficult-to-manage area of the company budget. Considering the significant investment that businesses make today in expense spending, the way you manage the reporting and reimbursement process also plays an important role in organizational performance.
Cost cutting is what every organization is looking for. In business, success comes when you get more profits. It is important to understand that you can get profits when you avoid spending too much. Cutting costs is crucial and expense tracking online offers real ways to just do that. Expense
If your expense policy hasn’t been updated for years, perhaps you are doing something wrong. The way employees are spending money has changed over time and now you are more likely to see a digital receipt than a paper. Having an outdated expense policy will create frustration in employees, which
Managing business travel expenses has become a big headache for financial auditors and procurement mangers. Not only is this time consuming but it also costs more for businesses. Identifying savings opportunities being the key responsibility for finance teams, organizations are turning towards automated expense management solutions from traditional in-house systems.
Travel and entertainment expenses are in the second place on the list of items difficult to control for businesses. Around 80% of employees reported that they are manually entering the T & E data, resulting in time-consuming processes and employee dissatisfaction. While other costs are monitored and analyzed by the
Business travelers and accountants have experienced the pain of travel and entertainment expense reporting. Most often, the systems used for expense report management rely on paper trails or homegrown legacy systems, neither of which overcomes the challenges of expense management in the modern workplace. Till today many organizations are struggling
©
SutiSoft, Inc. All Rights Reserved
