One of the largest expenses for a company is travel and entertainment expenses. Yet the Aberdeen Group found that 33 percent of respondents lack spend control in their expense management process.
Shifting your company’s spending culture doesn’t begin with your traveling employees. The solution is even more fundamental than that: it begins with the systems and processes you put into place. The more sophisticated and responsive, the better your employees make responsible spending decisions.
Take, for example, manual processes. ExpenseWire is an online expense management system that lets your employees enter information directly online — 24 hours a day, 7 days a week. With a few clicks, they can even import transactions straight from their credit card accounts.
ExpenseWire operates in real time. Every time a spending threshold is changed, it is immediately applied to new expense reports. This relieves individual managers from having to enforce policy.
Managers, too, appreciate the automated workflow. Reports are automatically moved along the approval chain. This type of efficiency helps managers to respond more timely to expense questions which can help shift your company’s spending culture.
To learn more about how to automate your expense management processes, schedule a free demo.