Expense Management - The system and/or systems deployed by a business to process, pay, and audit employee-initiated expenses. These costs include, but are not limited to, expenses incurred for travel and entertainment. Expense management includes the policies and procedures which govern such spending, as well as the technologies and services utilized to process and analyze the data associated with it.
Software to manage the expense claim, authorisation, audit and repayment processes can be obtained from organisations that provide a licenced software, implementation and support service, or alternatively from Software as a Service providers.
As found in an Aberdeen study on expense management automation in February 2007, there are three main factors that drive an organization to automate their expense management processes:
Examples of solutions that are used to automate expenses include Infor Expense Management, Cirtify ExpenseOnDemand e-cExpense Inlogik, Concur, Web2Expense, WebExpenses and Spendvision An automated solution typically provides the ability to code, approve and report on expenses. This will not only decrease the cost of processing expense claims, but can also enable an organization to have greater management control, bring transparency to expense spend and improve adherence to corporate policy.
Why e-procurement makes sense: enhanced control, savings and efficiency all make electronic procurement a compelling idea, yet research shows that usage, if anything, is down. (Purchasing).
Oct 01, 2002; Five years ago, corporate technology budgets were J focused on supporting the revenue side of the balance sheet. But with the...