Here’s how the fintech revolution is fixing expense management

Fintech is revolutionizing every aspect of the finance domain.Expense management software solutions are one of those aspects which have had a positive impact due to it.Gone are the days where expense management software solutions were silo monolithic softwares that meant entering forms and seeking approvals only.Today technology disruptions in form of technologies such as RPA … Read more

Top 5 reasons for expense report rejection

1. Incorrect totals/subtotals. Given the manual nature of these expense claim forms, the expense entries made by human error tend to cause the overall total of the expense to not match that of the receipts being submitted as proof.This is one of the reasons the expense claim gets rejected given that the auditor is not … Read more

6 Expense Management Best Practices

1. Automate the approval workflow While this might seem like a dream project but today’s technology advancements have made this a reality.Automating the expense management process flow has significant cost savings and results in faster claim processing which in turn leads to improved process efficiency.Studies have shown that most expense claims (approximately 75%) are “in-policy” … Read more

Top 5 features desired in today’s expense management software

1. On the go expense claim/approval/reporting The expectation from any expense management software today is far greater than the traditional system that allows its users to report their expenses after going through tedious data entry, upload of receipts and then complex approval flows.Today, the end-user wants to apply for an expense at the click of … Read more

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Top 3 reasons why Expense Management is cumbersome 1. Tedius and time Consuming process Despite the fact that the expense claim process allows employees to reimburse their business expenses, employees are often heard calling this process time consumingThis is because of complex requirements like filling forms, submitting copies of invoices/receipts, and obtaining necessary approvals. This … Read more