In today’s society, technology is moving forward, yet businesses still rely on the paper check. What are the benefits of digital e-checks and moder...
A company’s bottom line can be significantly improved by adopting a system that focuses on understanding and mitigating poor spend control habits.
Spend management has evolved exponentially, and in just a few years, technology has taken it further than ever before.
Understanding spend management best practices will facilitate you in creating and implementing an efficient and productive spend management system.
Spend management is often confused with expense management and vice versa. However, the two are distinctly different.
By taking the time to develop and execute an effective spend management strategy, a company can protect its interests.
Implementing a purchase approval process can be incredibly beneficial for any business. However, companies must also consider automating said process to truly take advantage of its benefits.
T&E expenses are paid out-of-pocket by employees and cover a wide range of potential costs, from client lunches to airfare and other forms of transportation.
Virtual cards have the same functionality as physical cards; employers are ditching their physical cards for these exclusively digital alternatives.
Overcharging or overbilling can happen to any business and must be dealt with immediately. It might be a mistake, but it may also be an indication of fraud.
Businesses that have a spend management strategy in place are one step ahead of the pack. That means they have not only come up with a plan, but implemented it as well.
The secret to long-term financial stability lies in spend management. A business’s spend management strategy should never remain static
The volatile economic environment encourages businesses to implement new strategies, consider fresh perspectives, and adapt advanced financial technologies, to achieve long-term success.
To achieve the objectives of optimizing efficiency, improving profits, and reaching full potential, a strategic plan sets policies and implements controls on company expenditure.
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