Over the last few years, there have been significant advancements in enterprise resource planning. Businesses are increasingly interested in exploring tools and platforms that are infused with current and next-generation technologies such as automation, IoT, and artificial intelligence. However, managing the organization’s second-highest indirect expenditure, travel, receipt submissions, expense reimbursements, and policy adherence are still done manually in…
Tag: Expense Tracking
Key Challenges of Telecom Expense Management
The workplace is continuously changing. With the global mobile workforce expected to reach 1.88 billion by 2023, businesses are spending extensively on mobile assets and technology to adapt to the changing environment. This means that telecommunication expenses are now a powerful part of running a business. As a finance specialist, you are responsible for not…
Why Should Businesses Switch to Digital Receipts over Traditional Receipt Management?
Paperwork is an inherent aspect for any business to document the work sheets, tallying accounts, processing profits/loss statements annually and in fact, almost every task of the business involves it. The traditional receipt management methods included filing, manually including the information daily and retrieving whenever required. These age-old methods are trustworthy but needs additional team, budget and burdens the company with expenses to maintain and keep the…
Review Renew and Revive – Is your expense management system redundant in the post covid scenario?
According to research, about 38% of users have switched to contactless and digital payments this year due to the impact of a pandemic. Automated payment systems and card-based payments are growing rapidly in these times. The conventional expense management system is redundant and outdated to suit the needs of users in this digital age. Traditional expense management…
