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Public school budgets are tight, and whenever public funding is involved, it’s not only important to tighten the grip on spend, but to build transparency of the taxpayer dollars being used. But the spendmanagement needs of the education system cannot entirely be met by a single solution that provides visibility into capital expenditure.
At Airbase, we’ve heard stories about the problems that our customers used to have when closing the books, with entries for spend flooding in from all areas on corporate cards, via purchase orders, and from expensereimbursement requests. Schedule a demo with Airbase to see how a spendmanagement platform makes a difference.
The Emburse Cards come integrated with spend policy controls, the company noted, and are looped to a platform allowing for professionals to create physical and virtual cards for employees. Pleo Centralizes Card Spend Data. Brex Beefs Up Rewards Program.
Data: $68K: Median fraud loss in the spendmanagement industry. 26 percent: Share of hearing-impaired consumers not buying hearing aids due to expense and demeaning purchase experiences. involving expensereimbursement. 1K: Number of robots DHL has recently added to its existing warehouse locations.
Paper expense reports also leave SMBs vulnerable to fraud — intended or otherwise — from their employees, something they may not realize in time. A 2018 report found that 21 percent of the fraud SMBs see is expensereimbursement fraud from their own employees. Digitizing these processes can ease SMBs’ tax frustrations.
Sterling Snow, vice president of marketing at corporate spendmanagement company Divvy , recently told PYMNTS that businesses (at least, the ones he works with) are hardly using checks at all. But it’s not the only thing businesses are trying to get rid of when it comes to company spend.
Advantages if Corpay One All in in one SpendManagement Platform. Bill Pay, ExpenseReimbursement, and Credit card management all in one place Custom Workflows to aid in Automation No Per User costs - Additional Remittance information sent to payee. Cashback - 1% on >50K spend - 1.5 <50K
On the other hand, asking employees to pay out of their own pockets and wait for reimbursement, or forcing them to go through lengthy expense claim processes, can cause resentment. Such inefficient procedures waste managers’ time and provide little visibility into spending, and they can delay approvals and cause liability issues.
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