Why follow a best practice expense management process?
We understand that whilst most companies would like to adopt best practice procedures it can be hard to a) know what best practice is and b) know how to replicate it or implement it. The adoption and consistent application of a best practice expense process is proven to save time and money while improving your employees’ experience. Moreover, having a best practice solution that is available online and via mobile devices leverages the investment that companies have already made in existing technology. A best practice expense process also provides access to data for analysis and review that can help improve policy and highlight opportunities for further cost savings. Using a best practice process enables the effective handling of expenditure in a way that is consistent with your policy, your company’s needs and your employees’ needs.
So here’s a guide that might help. This guide provides eight tips that could help make submitting, approving and paying expenses more efficient, more appropriate, and less frustrating. It also lists top resources that you can use to improve your process.