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Logistics service providers who offer supply chain management and logistics solutions operate on a large scale. Their business typically runs out of several hundred, if not thousand locations with a large number of logistics centres and offices. Their employees are constantly on the move shuttling between cities. Challenges with traditional expense management in logistics companies…
Tag: Expense Management System
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 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….
Travel and Expense Management Trends in 2019 – 2020
The TEM (Travel & Expense Management) market today is expanding both in scope and reach. According to the Global Business Travel Association, business travel spending grew globally to $305 billion in 2018 from $292 billion in 2017 – and is projected to grow another 3.1% in 2019. Businesses are exploring technologies to manage, control, and…
Why is Expense Management Software a good automation tool for companies in India?
Did you know that the inability to track company expenditures, has become one of the major issues resulting in companies losing a hefty amount of money each year? There is a huge gap between what companies think they spend on business expenses and what they actually spend. This gap is essentially because of inefficient processes….
Everything you Need for Handling Business Expenses
Administering a Management Expense Reporting system on a regular interval is a cumbersome exercise. Before adopting any new expense reporting system, you need to train your employees about the software, configure an approval structure and assign the chain of command. And every time when there is a new hire or an employee leaving the organisation,…
Features of Travel & Expense Management Solutions
With the businesses going global, there is an increased need for the employees and employers to travel across for globe, making the travelling expenses a major portion of the business expenses. Business leaders are finding a perfect solution to manage the complexity in the procedure on day to day basis. Digitized Expense Management Solutions are making the…
Benefits of Implementing an Expense Management System
If you are considering opting for an expense management system, but are wondering how to justify the purchase,here are some of the key benefits that the system offers to help organization achieve their business objectives. Improves processing time – Provides more scalability and robustness in handling large amounts of data,reducing manual entry, thereby eliminating the chances…
