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outsourcing spend analysis in procurement
| Expense Tips

Outsourcing Spend Analysis in Procurement When Resources are Limited

In today’s fast-paced business environment, where most procurement leaders strive to stay ahead of the curve, it’s important to have a system in place that can track and report on spend data effectively. The need for outsourcing spend analysis in procurement is even greater when management aims to reduce costs and improve process efficiencies, while

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corporate travel policy challenges
| Expense Tips

Four Ways Corporate Travel Policy Challenges Can Hurt Your Budget and Transparency

Having a reliable corporate travel policy in place is essential for organizations of all sizes. Travel and Entertainment (T&E) expense programs allow companies to manage expenses incurred by employees who are traveling for business purposes or entertaining business relationships.  While T&E expenses can range from money spent on lodging, transportation, and meals, monitoring these costs

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| Expense Tips

Level III Data vs. MCCs: How to Maximize Spend Visibility

Preventing fraud and increasing spend visibility are ongoing challenges that card program managers and auditors face regularly. Detailed purchasing information, accessible through Level III data, provides the most visibility for an accurate view of the purchase.  While using merchant category codes is a common practice to help identify purchases, it’s not always accurate or relevant to

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| Expense Tips

How to Bring Visibility and Accuracy Back to Invoice Review

AP departments can easily become overburdened when it comes to managing and paying invoices and handling other transactions. While some departments face limited resources such as low staff and underfunding, many are trying to manage a large uptick in cardholders and invoices.   Whether you are dealing with these issues, split transactions, or double dipping, there

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| Expense Tips, Travel Card

9 Reasons to Audit Travel Expenses With Analytics

Business travel is essential to grow professional connections, attend industry events, and find new business opportunities. That said, Travel and Expenses (T&E) monitoring can be challenging.  It’s important for auditors to ensure approved suppliers are being used to book travel as well as enforcing travel expense categories and limitations.  Whether you’re in a busy travel

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| Expense Tips

The Financial Benefits of Verifying Duplicate Payments

Verifying duplicate payments can be very eye-opening. Duplicate payments can wreak havoc on your organization’s finances whether its due to: Verifying duplicate payments is essential for any business handling a lot of transactions per month. Hiring a third party to help review your payments can consolidate several manual tasks while properly categorizing siloed data to

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