expensemanagement
Expense management refers to the processes and systems used to track, approve, reimburse, and report business expenses incurred by employees or affiliates. It covers travel, meals, lodging, entertainment, supplier invoices, mileage, and other costs aligned with corporate policy. The objective is to control spending, ensure policy compliance, and provide a transparent, auditable record for finance and governance.
Key components and workflow include the expense policy, expense reporting, receipt capture, approval workflows, reimbursement, corporate
Technologies and methods involve expense management software, cloud platforms, mobile apps, receipt OCR, automated policy enforcement,
Benefits include improved visibility into spend, stricter policy compliance, reduced processing time, easier reimbursement, improved cash
Challenges and considerations encompass policy enforcement across departments, maintaining data quality, user adoption, integration with existing