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The Importance of Expense Management Automation

Sponsored By Certify

Topics:
Accounting > Cash Flow
Budgeting & Planning > Budgeting

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Abstract:
T&E spend comprises up to 12% of a company?s annual budget, making it essential for company employees to track and manage this spend accurately and consistently. However, an automated expense report system not only provides on-demand and in-depth visibility into expense spending, it also significantly reduces errors, policy violations, as well as labor costs. When you compare the average cost of $41 to manually process an expense report, versus $7 to process an expense report using an automated system, the price differential is significant. Expense management automation has significant benefits, including faster reimbursements, increased expense compliance, clearer understanding of T&E spend, reduced budget and labor costs, and most of all, increased efficiency.
DETAILS
Sponsored by:
Released: February 18, 2014
Length: 10 pages
Format: PDF (331 kb)
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