Is your finance team struggling to successfully enforce your organizations T&E policy?
Do you even HAVE one? You’d be surprised how many big companies don’t. (If you find yourself in that latter category, you may find this interesting).
According to research from expense management software provider Chrome River, 40 percent of finance executives say non-compliance and cost control is a major problem in their organizations.
There are many reasons for this. One is that effective corporate expense policies tend to be highly complex. You might need to apply specific thresholds and controls based on an employee’s grade or the type of category the expense relates to, and totally different ones to someone else’s claim. And if it all has to be cross-referenced in an intricate Excel spreadsheet, it’s no wonder your finance team colleagues are tearing their hair out in frustration!
For this reason, more and more organizations are turning to automated expense management solutions. They let you build in rules specific to your business.
And because the rules you establish will scrutinize all expense reports equally, they will automatically pick up on issues like non-compliance, employee expense fraud and money leaking out due to incorrectly categorized spend.
This white paper outlines how, by implementing rules, you can proactively take back control in policy enforcement.
Download it now. As well as learning a lot, you’ll probably end up with a much happier, spreadsheet-fatigue-free finance team too!
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