In any company, there is a chance of fraud if there is any type of employee reimbursement program. So, how do you fend off fraud before you get a handle on an expense management program? Go Apps There are apps for anything and everything in between, from transportation to booking
Marketing is a top priority for businesses. No matter how innovative your business products and services are, without the proper marketing strategy it’s impossible to reach the right target audience to sell your company’s products and services. Today’s business competition has reached cut-throat levels and marketing professionals need to strive
As Travel and Entertainment (T & E) expenses represent around 10-12% of company’s overall expenses, businesses are increasingly realizing the importance of having expense report software in place. Lack of visibility into business spending, lack of control, high processing costs and lengthy reimbursement times are some of the biggest problems
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
Businesses are increasingly spending more on travel and entertainment business expenses. On average, around 10% of the annual revenues account for business travel. The time and cost of expense report processing exceed $100 according to the Global Business Travel Association (GBTA). This is the result of: Accounting Departments are Overwhelmed
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