If you are looking for an expense management system and don’t know where to start, here’s a useful mantra. For the modern, agile company which strives for hawkish scrutiny of its bottom line, we suggest chanting this three times per day:
An encouraging number of organisations understand expense management. According to business intelligence specialists, Aberdeen Group, three quarters of organisations across the world see travel and expense management (T&E) as strategically important. But when it comes to adopting an expense management system (EMS), companies often don’t know which system will be the right fit for their company.
A few weeks ago we released some research that looked at taxi-related expense fraud. It’s something we’ve highlighted before, and for good reason it seems. Our research showed it’s common for nearly a third of UK employees to use blank taxi receipts to claim more than they should, or to claim for non-work related ‘phantom fares’.
So Apple have launched the next version of the iPhone and I was pretty surprised to see that it doesn’t have the much-talked about NFC functionality. It’s a shame as I think that would have helped mobile payments start to take off in the consumer space. And of course once we all get used to paying for our own purchases with our mobile it’s only a matter of time until we expect business transactions to be made the same way.
One of my team recently made a purchase for a project we’ve been working on. It’s not unusual, it was a couple of hundred dollars and I knew about it. The invoice came in, was checked and sent to me, looked fine so I sent it on to finance with a note of approval.