Here are the ten commandments of expense reporting. This is an excerpt from our well received white paper entitled – ‘10 steps towards best-in-class status for expense management’.
1. Centralize the control and operation of expense reporting programs
2. Automate the process to eliminate errors and mitigate inter-departmental gaps
3. Integrate the front-end expense reporting system to the Accounting/ERP system to minimize hand-offs
4. Establish generally accepted corporate-wide policies and processes
5. Educate employees regularly on expense report related policies and processes
6. Encourage usage of corporate cards for better accuracy and mobile apps for convenience
7. Leverage T&E data through analysis to fine-tune the system and also establish better vendor
8. Develop audit mechanisms that capture errant data
9. Invest in the latest available technology to maximize efficiency, provide long term ROI and reduce paper usage at every step
10. Provide flexibility and convenience to the end users to improve productivity and reduce inherent delays
If you would like to read the complete white paper, send us an email at email@example.com and we will be happy to send it to you.
For a quick comic relief, see this version of the 10 commandments from the movie History of the World – Part I