Timely submission of expense reports by employees can help improve the quality and efficiency of the overall Travel & Expense process. The longer an employee waits, the more likely there are errors or omissions, or lost receipts that require special handling for approval. Given that frequent travelers are most likely either senior-level company employees or […]
Providing front-end travel services for trip reservations and the back-end processing of completed expense reports is an increasingly common responsibility of Shared Services. Not surprisingly, because frequent travelers include senior-level employees, investing in improvement solutions for the travel process can be a high priority, even if the actual dollar savings are difficult to quantify. With […]
The organization that ultimately owns a work process provides clues for how the process is both managed and integrated. While one size doesn’t fit all, there are lessons to be learned by better understanding the approaches of your peers. For example, the use of a credit card product by employees to buy travel services, or […]
With the introduction of sophisticated Travel Expense software, complete with pre-populated expense line items, and automatic checks of merchant category codes (MCC) for appropriateness; combined with the move from cash advances and the requirement to have all expenses on a credit card, the risk of loss due to errors or intentional fraud has been reduced […]
The utilization of Purchasing Cards (PCards) is an undisputed best practice for small-amount purchases. However, the requirement for retention of physical receipts related to Purchasing Card transactions can vary significantly between companies, with a number of viable options available. Recently, Peeriosity performed custom research using the iPollingTM functionality to request feedback from members responsible for […]
While it is important to have a well-designed process and system for the Travel Expense function, without a strong policy that properly balances the needs of both the company and the traveler it becomes difficult to have a successful program. Unfortunately, there is no universal policy that will work for every company. In fact, it […]
While companies continue to strive to minimize the frequency of out-of-pocket transactions by their employees, it is very difficult to completely eliminate this type of spending activity. Practices around out-of-pocket reimbursements to employees can vary significantly between companies, with no single ideal solution that works for all. Recently, a poll was created using Peeriosity’s iPollingTM […]
As companies continue to consolidate decentralized operations from across the globe, the necessity to standardize the T&E process becomes quickly apparent. Not only do employees often need to be transitioned to a different card and expense reporting system, but policies also need to be made as consistent as possible and cardholders need the necessary training […]
The introduction of mobile device technology has had a big impact on all of us. By eliminating the need for a separate watch, GPS device, scanner, or camera, mobile devices have changed the world. Because of their unique capabilities, in addition to being pretty decent mobile telephones, it’s no surprise that mobile devices have made […]
Centralizing travel expense report processing as part of Shared Services requires a more sophisticated approach, with travelers and reviewing managers located hundreds, if not thousands, of miles away from the processing center. Yes, placing responsibility and accountability with the department manager responsible for the expense is necessary, but that does not fully excuse Shared Services […]