Handling employee expenses can be time-consuming, complex, arduous, and a hassle for your finance team. Fortunately, there are ways to make the method less of a drag. When it comes to corporate expenses, there are three major requirements. a) Track and control businesses operational expensesb) Conduct analytical accounting of expensesc) Gather invoices and supporting document […]
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For most organizations, expense management is a complex task, similar to other chores like payroll, benefits, and annual tax submission. The other primary concern is the hidden cost of persisting with manual expense management processes. As the number of employees increases, the cost of expense handling increases, and the process becomes complex. Latest cloud-based solutions
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Majority of the times there will be errors in expense reports; they may be due to employees reporting in a rush or in ignorance. Most times they report transactions here and there or get the numbers wrong because of receipt loss. In a few cases, employees involve in malicious practices such as intentionally submitting fake
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Sometimes your employees have to travel overseas to meet prospects and clients. Here, currency exchange makes your expense reimbursement complex if not managed properly. As there will be fluctuations in the currency rates, it can be really difficult to track expenses while on a business trip. To overcome such obstacles and make the travel expense
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In the last post, we discussed how expense report software helps traveling users and their managers. In this post, we’ll concentrate on senior management and how software makes their lives easier. One of the biggest concerns that senior management have regarding the expense management process, or other process for that matter, is visibility, or rather,
Expense Report Software – What It Means for Individual Roles – Part Two Read More »
The fundamental aim of automation is to streamline existing business processes by eliminating waste. A considerable portion of managerial duties involve monitoring the cash flow to and from an organization. The traditional expense management route called for investing considerably in manpower and time. A separate department needed to be set up to maintain the accounts
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When employees go on business-related trips, their organizations reimburse them on their return. In theory, this is simple – the employee travels, comes back, files an expense report, and gets reimbursed. But in practice, it is not quite so. The process of reimbursement faces several challenges, making it complicated. If the organization does not employ
Surmount Reimbursement Challenges with Expense Reimbursement Software Read More »
One myth about SaaS that still seems to continue to dominate public opinion is that it’s not really cost-effective. And it somehow looks to be true, as not all cost benefits are immediately obvious. Legions of people including users, industry experts, and analysts lauding SaaS as the next biggest thing and proclaiming that the myth
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It’s an age-old practice that will never go away. Salespeople have to travel and their company has to reimburse them. This reimbursement is largely based on the expense reports that the employees submit and the receipts they attach to validate their expenses. In some cases, employees may unintentionally send duplicate reports, or duplicate receipts, or
Are You Inspecting Your Employees’ Expense Reports Carefully? Read More »
Online expense report software speeds up the expense approval, reporting, and reimbursement processes of a company. By reducing work that is not a core business activity and by saving time, it invariably increases the productivity of the organization. Composing a manual expense report requires lot of time and it is a tedious task. Every month
