Although many technological advancements are occurring in expense management, expense fraud is still a common problem in organizations. Citing the Association of Certified Fraud Examiners (ACFE) report, around 14% of fraud in companies account for expense reimbursement, which is the third most common fraud happening in companies. Though companies employ
Although every company understands the importance of business travel, businesses look at travel expenses by the end of the year. Corporate travel managers look for ways to minimize business travel expenses but enforcing rules alone will not always work. You have to follow certain strategies to manage corporate travel as
If you are reading this, maybe your employee expenses are taking a toll on your business. Thinking about your business financial health is very important, but it isn’t enough to just see where your employees are spending. Tracking your spending on a regular basis will help you get an accurate
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
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.
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
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