A well-defined expense policy can save resource time, while protecting against fraud and compliance breaches. An expense policy should outline how to handle business expenses, guide employees what can and cannot be claimed, and clearly state what happens if employees make out-of-policy expense claims. Not understanding expense policies is one concern that employees often face. […]
The Need For Effective Corporate T & E Policy Read More »
Most companies often face several challenges when it comes to expense management. Let us take a look at some issues that are going to impact the expense industry. Here are the key trends that impact the expense industry in the upcoming years. Realize that Corporate Credit Cards can Control Fraud Expense fraud is a continuous
Key Strategies to Successfully Manage your Corporate Travel Expenses Read More »
How to prevent extravagant spending? If this is on top of your head, you will have to take appropriate steps to prevent this from creating problems in the future. Multiple cash purchases, perky spending, and bulk trips submitted are just a few reasons for extravagant spending. Whether these habits are borne out of frustration from
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Business traveling isn’t always fun. You have a lot of things to do before and after the trip such as booking flights, hotels, keeping receipts, tracking mileage, so on and so forth. Taking all these into consideration, it is clear that business travel is not so easy as it sounds. And, if you are a
Simplifying Corporate Travel with T & E Automation Read More »
So, you have switched from manual to a new expense management system. How do you determine it is benefiting your business? Although everything is going smoothly, how do you know whether the transition is successful? Here are a few expense management Key Performance Indicators (KPIs) that help you benchmark yourself against your peers and take
Metrics to Determine the Success Rate of T & E Program Read More »
Travel and expense management software does more than automation. Automating T & E makes processes agile and helps identify new opportunities such as better negotiations, VAT reclamation’s and so forth. Going beyond automation will add value to the business in the long run. Of course, automation would help streamline expense reporting process and make it
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With the rapid adoption of new technologies, corporate T&E management has changed from a regular back-office function to a strategic set of methods which can drive enormous business value. One of them is analytics-an important means for organizations to enhance T&E management and improve the intelligence of how corporate travel affects the overall business. Many
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