The Importance of Travel and Expense Management

Master T&E for improved visibility into discretionary spending

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Expense Management for Employees, Accountants, C-Suite.

Expense management software is an extension of your travel and expense policy. That doesn’t mean it can’t be abused or on the flip cause employees to foot expenses out-of-pocket. Finding the right balance usually starts with ditching the electronic or paper-based form model for good.

Easier Entry

Tracking expenses from a project or organizational level is critical for managing discretionary spend and that starts at entry.

The easier it is to enter mileage and expenses means it will require less overhead to track, approve and ultimately reimburse your employees.

Improved Compliance

The easier the system is to use, the easier it is to keep in compliance. Buy in from employees is a must and the best way to do that is to give them a system that makes their life easier.

A clear policy is the first step and the software should be flexible enough to be an extension of it. The fewer questions going in makes it easier for employees to stay in compliance.

Faster Reporting

The better the data the better the reports. Making sure expenses are approved and coded correctly helps improve reporting accuracy.

Advanced software enables reporting in real-time. The benefit is to gain visibility, capture information and quickly resolve issues.

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