Writer on a mission.

  • speeding-up-processing-expense-reports

    How to speed up the processing of expense reports?

    With the rise in employee size and business travel, managing employee expenses gets complicated. An increase in business expenses leads to an increase in expense reports and expense reporting woes.  Today, finance managers have an urgent need to look for modern ways to decrease their workload and quicken the processing of expense reports. But before finding ways to speed up the process, it is important to identify the prevailing factors that are contributing to the workload of finance teams. Identifying these factors would help in recognizing the key issues that need your attention. Why does the processing of expense reports take time? The high volume of expense reports It is…

  • helping-employees-report-travel-expenses-time

    How can your employees submit a travel expense report on time?

    Does it take your employees an eternity to submit a travel expense report?  Our best guess is, they hate the process just as much as you. But, in today’s employee-centric ecosystem, businesses are actively moving towards automation. Automation of any process helps eliminate the mundane tasks associated with work. It is also known to help boost financial and employee productivity.  But how can automation help with a travel expense report, you ask? Let’s delve in.  Why employees do not submit a travel expense report on time? Business travel is hectic enough. Your traveling employees need to hop across cities, and sometimes even countries to close business deals. They need to…

  • corporate-credit-cards-beginners

    What is a corporate credit card?

    Every growing company has business expenses like hotel bookings and airfare that are not borne directly by the company but through its employees. The employees incur these expenses for the company and are liable to be reimbursed. Hence, managing these expenses becomes very crucial as a company grows. When employees use cash or their personal credit/debit card, reporting, verifying, and matching these expenses becomes a hassle. A simple way to track and control these expenses is by issuing corporate credit cards to employees for their business expenses. This prevents employees from using their own money and lets the company pay directly, thereby making things easier for both of them. If…

  • brief-introduction-expense-report-approval

    What is expense report approval?

    Expense report approval is necessary to ensure your business stays audit-ready at all times. It also plays a crucial role to ensure that no fraudulent expense claims slip by. But is it as easy as it sounds? In this article, we discuss the various types of business expenses that need approval. Additionally, we look into the nuances of an expense report approval workflow. Lastly, we compare how an automated approval workflow pans out against the traditional ones. What type of business expenses require approval? An employee incurs various types of business expenses during work. Most of these expenses require approval before going into the payment processing cycle.  The following are…

  • introduction-expense-management-software

    What is an expense management software?

    Traditional ways of reporting and reimbursing expenses involve many unnecessary issues and risks. They include manual handling of physical receipts and manual verifications which are prone to fraud and error. The inefficiency of traditional expense management further weakens your employee morale, financial productivity, and your bottom line. To mitigate these risks, most leading companies resort to using an expense management software.   Using an expense management software makes life easier for expense reporters as well as accountants and approvers. In today’s eco-friendly and efficient work culture, it is a must-have tool for scale. In this article, we discuss what expense management is and why it plays a crucial role in your…

  • travel-and-expense-policy-beginners

    What is a travel and expense policy?

    A recent study by Egencia states that only 60% of companies who frequently send their employees on business trips use a travel and expense policy. Are you one of them?  While working for a company, an employee often incurs many kinds of business expenses. These expenses can be incurred during a business trip, a client meeting, or even an off-site event. But does your business have a list of guidelines that help your employees understand what sort of expenses are reimbursable? Are they aware of the capping on specific spend categories? Do your employees know the consequences of fraudulent expense claims? If not, this is where a travel and expense…