Building a company is one of the most rigorous and rewarding experiences that someone can take part in. Unfortunately, though, most businesses don’t last more than a handful of years, and part of this is due to poor financial management.
Data visualization is the representation of data or information in a graph, chart, or other visual format. It communicates relationships of the data with images. Today, information is better absorbed if it is presented in the form of beautiful diagrams and graphs. So, why is it important for companies to use data visualization techniques and how to use it - that's what we'll talk about.
How many times have you been forced, in your company's accounting, to manually enter data from an expense report on your computer? With a valid detection rate of 99% according to the Researchgate study published in 2017, Optical Character Recognition can change your daily life: here's how this revolutionary business process works.
As digitalization becomes our new reality, more and more companies are adopting modern technology, such as expense management software. Expense management software holds data like employee names and details, corporate credit card information, transaction statements and financial history. You can see that the tool is equipped with a lot of useful and sensitive data. Therefore, companies should be careful when choosing the solution. This step should be taken to identify and assess risks that could potentially expose your system to cyberattacks. So, why and how your expense management tool should be secured from data breach?
How to establish sustainable travel and expense policy Today, if we hear terms like “sustainability” and “innovation” in every media, not all of us are aware of what sustainable development really means.
As it is already noticed by everyone, we are currently in the period of another digital revolution, which is driven by data – generated and processed in huge quantities. The value and role of Business Intelligence increase as the importance of data grows. Data is being more frequently taken into account when making decisions and handling business processes as in medium companies as in big enterprises.
Accounting is a crucial aspect of your company's success. Automation and Artificial Intelligence (AI) now allow you to optimize accounting, from expense management to VAT reporting.
After facing the pandemic situation the economic crisis is raging, it became clear for companies to reduce the budget related to employee's travel expenses - both for sanitary and budget reasons. However, one must be careful as this charge revision must not have negative consequences on the operational efficiency of the company. So, how can this be done? Jenji gives you a few pieces of advice:
Business growth means a lot of growing pains for a reason. You start having headcount, overseas expansions but the point is your business is getting bigger, which means more responsibilities, changes and of course spendings. So how can expense management solutions help you in this case? Is there more you could be doing to drive additional data and money into your expansion strategy? Is there a way to soften those pangs of progress?
Many companies struggle with the issues of timely expense submission. Employees are often slow to file expenses, causing frustration on the side of finance managers. Based on various studies, a single expense claim can take up to 20 minutes to file, including filing approval and review. On top of that, 19% of claims are filed incorrectly and it can take, on average, another 18 minutes to fix those errors, causing significant delays in the reimbursement process. A Conferma report showed that 2 in 5 employees have experienced their own cash flow issues due to slow reimbursement processes.
Today we want to share with you the second episode of Jenji Insights: Interview with our team member. In the monthly interview series, you can go behind the scenes of Jenji to learn more about the people that make it happen. Today our guest is Chee Leong, Head of APAC Region, based in Singapore.
Historically HR and finance have not been the best of friends mainly due to a perception that one cares about people and the other about money. Still today in many organizations, human resources and finance are two distinct business areas and sometimes with nothing related to each other.