When it comes to succeeding in the world of finance, having the right tools is essential. As a CFO, you need to be armed with the best possible resources in order to make sound financial decisions for your company.
When paying for business-related expenses for food, labor, travel, or accommodation, for example, businesses have multiple options. The primary ones include equipping employees with business bank cards, reimbursing them for expenses incurred using a form of expense reporting, or paying them “per diems.”
How you can get more out of the expense management RFP process As organizations evaluate their opportunities to streamline overhead operations, expense management automation is a clear solution.
What is Mileage Reimbursement Business owners and consumers have taxes on the brain again. Enjoying tax savings can feel intimidating, but taking advantage of the deductions available doesn't have to be confusing. For example, workers may often consider writing off the mileage they incur for their employment, and employers also find value in these deductions.
What is an expense tracker? Business leaders rely on data to make good decisions. But the reality is that many organizations today are making decisions about expenses based on incomplete or inaccurate data.
Per diem: definition Originally derived from Latin, per diem means “per day”. But in a professional context, a per diem is a specific sum of money paid to a person as a daily allowance in addition to their regular wage.
Sometimes it is a real struggle for many small businesses to keep operating costs under control. In fact, paying operating expenses was the most common financial problem identified in the Federal Reserve's Small Business Lending Survey, with 47 percent of business owners saying they would be forced to use personal funds if revenue was not received within two months.
According to Gartner, in the early 2000s, "digital" was among the top five priorities of executives for only 2.1 percent of companies surveyed, whereas today it is a priority for one in five companies. The percentage of companies with a digital strategy has increased from 62 percent in 2018 to 82 percent in 2019, Gartner confirms, estimating that 90 percent of today's companies have already experienced various types of disruption in their business models. And that's why we can see a trend that has been observed for the past several years: the digitization in finance.
We all someday had the experience with Spreadsheets. And de facto the Excel spreadsheets have become the tool for data storage and analysis for many companies for decades. And while some companies interact on a weekly basis to crunch numbers and analyze data, other companies break this old habit of using excel spreadsheets for everything and switch to a different tool. But why? Find out in this article.
It is the one thing that rattles and distresses all employees - completing expense claims accurately so as to receive payments in due course. Expense management is critical to any business, large or small, and setting up a process in your organization is a key component of any business operation.
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.
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.