Every organization’s finance team knows that controlling supplier costs is critical. However, one area that many organizations have yet to address is the actual cost of the invoice management and processing function.Accounts Payable, For CFOs
Forty-six percent of respondents to a recent survey said they still submit their expenses manually - stuffing their pockets, wallets and briefcases with wrinkled receipts. These bunched up pieces of paper then get stapled to printed spreadsheets that must be typed up, listing every detail of every item, and then mailed to accounting departments. In an era where the majority of business functions have been automated, expenses are one of the few areas that still involve an excessive amount of manual processing.Expense Management
Any opportunity for manufacturers to lower manufacturers' operating expenses is welcomed by the CFO, whether this is hedging against commodity price increases and exchange rate fluctuations, or identifying opportunities for cost reductions within the supply chain. But what about reducing the cost of back-office processes?Expense Management
It’s estimated that expense fraud committed by employees adds up to nearly $3 billion per year across North America. How can HR teams prevent this from happening at their organization?Expense Fraud, Expense Management, Expense Policy
If your CFO or controller asked you to provide the organization’s total travel spend over the past year, how would you get that data? The obvious (and traditional) answer is to ask for reports from your travel agency, breaking down hotel, flight and rental car costs. That should give you a pretty accurate figure, right? Well – not really.Expense Analytics and Reporting, Expense Management, Expense Policy, For CFOs
For mid-size and large companies, best-of-breed travel and expense or all-in-on isn’t the only decision to be made when it comes to expense software. Many ERP providers also offer expense management capabilities as part of their broader suite of financial and HR tools. How do you decide which works best for you?Expense Management, For CFOs
Gartner has just released its 2017 Market Guide for Travel Expense Management (TEM) Software. The guide is essential reading for any organization that’s thinking of investing in an expense management solution in the coming year, or is considering upgrading its existing solution.Expense Analytics and Reporting, Expense Management, For CFOs
Expense management systems must provide several receipt submission formats, to match the different types of receipt format in use, as well as users’ own preferences. What types of receipt submission should your expense solution be able to support, to cater to the full spectrum of your organization’s users and their travel profiles?Expense Management, Expense Reports
Corporate road warriors often complain about filing their expense reports, be they on spreadsheets or using their employer’s clunky, antiquated solution. The process can be time-consuming, making it easy to put off, which leads to delays in reimbursement. Finance teams also tire of having to manually process and code hundreds or even thousands of expense reports each month. If this sounds like your organization, maybe it’s time to start looking for a new solution.
As a result of new U.S. and UK legislation, some business travelers may choose to leave their laptops at home. What would happen, though, if you also accidentally left your wallet at home? Could you survive life on the road paying for everything with a mobile phone?Business Travel
- Why the Manual Invoice Processing Model Is Broken (And How to Fix It)
- 6 Reasons for Implementing an Expense Management System
- How Expense Automation Can Increase Manufacturers’ Profit Margins
- Reducing Employee Expense Fraud – Strategies and Tools for HR Leaders
- Capturing and Optimizing Your True Corporate Travel Program Spend Using Total Cost of Ownership
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