Learn the best ways to manage your expenses | Expense Management (3)

Posts about Expense Management (3)

How can companies control travel expenses?

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: 

Read article

5 Things you must consider if you want to grow your business

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? 

Read article

Why Aren’t Your Employees Filing Expenses on Time?

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.

Read article

HR or Finance - who should operate expense management?

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.

Read article

What is the difference between Car Allowance and Mileage Reimbursement?

Mileage expenses make up a large part of the travel expense report. Some employers require you to drive your vehicle for business travel to manage its professional mission and offer you mileage allowances in exchange for using your vehicle. Other companies often provide such benefits in the form of a per-mile reimbursement plan or a fixed amount per vehicle.

Read article

Top 3 benefits of performing digital archiving

What is Electronic Archiving? Digital archiving refers to the storage of documents on a computer-readable digital data carrier. This can involve paper-based documents, but documents that already exist in digital form can also be archived, for example, e-mails. This is also referred to as electronic archiving.

Read article

What is a financial controller?

The role of a financial controller (FC) can be difficult to define. This integral and senior accounting position combines pure accounting, finance strategy and leadership. The FC generally reports to a finance director or CFO and is responsible for the accounting operations of an organization, making sure they run smoothly. A key player in the organization, they keep an eye on the company’s finances ensuring that there are no surprises at the end of the quarter.

Read article