• An American
Express expense management study conducted among over 500 Indian Companies
this year has concluded that travel and entertainment (T&E) remains the
second largest controllable operating cost after salaries and benefits.
• If you are
looking at being compliant to the Sarbanes-Oxley Act, then the cost of
business has gone up for your company. You need to ensure that adequate
"internal controls" exist to ensure compliance. CEO's must certify their
financial results. Automation will enable this for you.
• Your company
spends a high percentage of indirect costs on travel, employee business
expenses and ad-hoc purchases initiated by users. You can reduce these by
20-40% & through automation of expense management.
• You can
streamline your purchase process and obtain better rates when you have spend
management data analysis available across the company locations. This can
reduce your expenses significantly.
• Cost of
processing expense vouchers and vendor bills is a growing cost for
companies. To keep costs low, you will need automation of T&E.
• World-wide EMA
(Expense Management Automation) is a highly used practice, and is gaining
importance in India.
