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Expense Audit Automation

For most organizations Travel and Entertainment (T&E) expenses are the second largest controllable expense. Until recently companies did not pay much attention to keep things under control. After Sarbanes-Oxley Act of 2002 a lot companies have started changing their key business processes. At the end of the day, T&E reimbursement process is a cost function. It adds nothing to the bottom line. When everything is shiny and glorious companies does not pay much attention to their poor T&E practices until their story ends up being a front page article.

In the world of T&E expenses things have changed rapidly in recent years, here are some of the business trends affecting your T&E expense reports:

  • Company credit cards instead of cash advances
  • The usage and availability of the Internet
  • Changes in regulations such as Sarbanes Oxley act
  • Cost savings through automation
  • Travel expense policy compliance
  • Corporate fraud
  • Competitive business environment
  • Digital records management
  • Acceptance of electronic approvals

All of these business factors when combined with other issues such as corporate culture, human factor or personal issues can lead to bad practices that may cause a lot of headache for company executives. Here is how we can help.

 
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