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To establish that all deductions and returns are viable, business receipts are rather essential. They also help identify differences between internal finance records and bank statements. A lack of receipts indicates an unreliable record-keeping system. Receipt management is key to simplifying spend management and ensuring your finance team is audit-ready. This post will articulate the…
Tech Candidates who claim to have experience have actually only dealt with the subject matter from a periphery level
• The shortage of engineers and researchers for the deeptech sector is going to rise by a staggering 200x in 2020 • At the same time, Indian analytics, data science, and big data industry is growing at 33.5% CAGR • The industry believes that early introduction to technologies is going to be the …
Why Businesses Should Automate Mileage Tracking
All business-related drives can be used to claim mileage deduction. Whether it’s an on-site visit, meeting clients, or providing client demos, tracking your mileage is imperative as it impacts overall employee productivity and also helps in tax savings. The mileage rate is updated annually and forms the foundation for calculating mileage allowance. In situations when…
5 Maturity Stages of Travel and Expense Management
Business travel impacts a wide range of objectives including sales and partnerships for enterprises today. With increasing business travel, there are more bills, expense reports, and reimbursements to deal with. Whether you follow the paper-based system or a computer-based application, expense management requires the collection of all related invoices and receipts to make the right…
5 Common Mistakes in Expense Management
Traditional expense management practices can not only lead to inefficiencies in the process but also expose the organization to risks of fraud and non-compliance. As business travel increasingly becomes indispensable, it’s imperative that the businesses figure out better ways to manage travel expenses among other employee expenses. The process of managing receipts and submitting expenses…
How Expense Management Can Help CFOs
Travel and expense (T&E) cost is usually a close second after wages and sales-and-marketing outlay when it comes to controllable costs. According to the Association of Certified Fraud Examiners’ 2018 Report to the Nations, expense reimbursement fraud accounts for 21 percent of fraud in small businesses and 11 percent in large businesses. Adoption of technology with…
How Employees Benefit by using an Expense Management Software
As businesses scale and expand, reducing overheads and streamlining processes is a major challenge. With 445 million business trips happening every year, employees find it increasingly difficult to keep track of their paper receipts and expenses. The traditional processes of expense management are time-consuming and lead to slow reimbursements, leaving employees disgruntled. This affects the bottom line…
How to Manage Petty Cash for Business Expenses
Petty cash refers to the small amounts of cash kept on hand in business. With growing digitization, people are swiping their cards for smaller purchases. This has reduced the use of a petty cash system. However, it’s still essential for any business to make sure all small purchases are properly accounted for as business expenses….
How Reward & Recognition programs can impact Channel Partners?
A channel incentive program is a way to reward channel partners for the tremendous amount of effort they put in. It is essential that the channel partners believe and understand that company is appreciating their work and taking good care of them.The most successful incentive programs are those that are engaging and are designed to…
