Business travel is one of the largest expenses for companies, but managing employee travel expenses can be a challenge. From meal allowances to hotel costs, ensuring accuracy and compliance is tough for finance teams. One solution to these complexities is implementing per diem allowances, a system designed to streamline travel expense management. Let’s understand what…
Simplify Expense Tracking with Zaggle EMS: Introducing the Power of Auto Reconciliation
One of the most difficult yet important tasks of a business is managing its employees’ expenses, especially the process of reconciliation. For many organizations, manually reconciling several receipts with matching transactions recorded in corresponding bank statements or corporate cards is a labor-intensive and time-consuming process, filled with room for errors. Automating the same minimizes the…
Simplify Corporate Group Expenses with Attendee List Management
Corporate group expenses refer to the costs associated with activities involving multiple employees or teams—such as client dinners, team-building events, training sessions, or corporate retreats. These expenses typically need to be tracked, allocated, and reported across various departments, budgets, or individuals. However, managing group expenses in corporate settings often lacks clarity, leading to inefficiencies, delays,…
10 Ways To Make Employee Reimbursements Faster
Employees pay for business expenses out of their pockets when they travel for work. It could be to meet clients, attend trade events, or host partners for lunches or dinners. It has been a traditional practice with employees submitting bills and claiming reimbursements. However, with growing staff and increasing business travel, managing travel expense reimbursement…
How To Integrate Travel And Expense Management Software
Businesses understand the necessity of traveling to different locations to strike new partnerships and expand into new markets. Most business owners rely on business trips to further their growth. However, it comes at a significant cost. It is commonly said that T&E expenses are second only to the salary costs for companies. However, a little…
Boosting Efficiency And Minimizing Costs: The Impact Of Zaggle EMS On Large Enterprises
Using an expense management solution isn’t just about adapting to the modern way of doing things. Companies have been struggling to keep their accounts books efficiently due to manual expense management processes. As per a report, the top three challenges of the expense management system are delays in expense report filing, expense policy violation, and…
Top Tips For Effective Expense Management Online
Nearly one-third of the companies still use manual methods like using paper receipts and spreadsheets to manage business expenses, according to an expense management survey. It comes as a shocker considering the scope of mistakes and errors that potentially occur during data entry and expense validation. The report further disclosed that 69% of the companies…
The Role of Automation In Streamlining Expense Reimbursement For SMEs & Enterprises
Manual expense management isn’t about sticking to a cost-effective, traditional approach anymore. Companies are losing significant operational costs to errors and delays in manual expense activities. According to the Global Business Travel Association report, businesses lose around Rs 4000 ($52) for every mistake in expense reimbursement claims. Although this number may vary depending on company…
From Chaos To Control: Transforming Corporate Travel With An Expense Management Software
Travel & entertainment (T&E) expenses can be major financial overhead for companies who fail to take stock of these costs. Every year, a significant 120 hours are consumed by businesses in taking care of expense-related admin tasks, as per a JPMorgan report. Additionally, T&E is considered the second largest expense after salaries. To top it…
Why Visibility Is Key To Optimizing Your Expense Management System?
With the start of 2024, companies become busy with planning and budgeting their expenses for the year. As a part of that, it is important to reflect on their historical expense data. Only when you evaluate your financial data of the previous year, can you properly estimate your spending through near-accurate forecasts. To avoid unexpected…
