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          Finally! The trick to securing greater T&E compliance
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          3 costly misconceptions about biz email compromise
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          Handling Nonexempt Employee Pay: Stay Compliant and Avoid DOL Audits
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          T&E Best Practices: Complete Guide to Ensure Compliance
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          Payroll Best Practices: 4 Ways to Save Time and Money
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The proof you need to automate your T&E process

Jennifer Azara
by Jennifer Azara
May 7, 2010
  • Payroll
1 minute read
  • SHARE ON

No matter how automated (or not) your T&E process is currently, this info will make you want to go at least a little further.

Maybe folks aren’t still penciling in their expenses on a piece of paper and turning it into A/P for reimbursement check. But most companies would admit their T&E process isn’t quite as electrified as they’d like it to be.

Could be a good time to start circulating these recent stats from the Aberdeen Group:

  • For companies that manually process 100 expense reports a month, the average cost is $3,140 per month, or $37,680 per year.
  • Automating T&E could save a company with that volume up to $19,000 annually.

At a time when companies are looking everywhere and anywhere to cut costs, this should seem like a prime target.

Even if your company isn’t willing to lay out the small fortune for a fully automated system right about now, there are steps to advance the cause for a payoff:

  1. Automate approvals. There’s no reason managers can’t “sign off” on expense reports without physically signing anything. E-mail is great for this.
  2. Deposit directly. It’s amazing how many companies use direct deposit for paychecks but not expense reimbursements.  This is a quick fix with a big win. And it’s not likely you’ll receive any pushback from employees.
  3. There’s an app for that. Chances are a fair number of employees are “iPhoned.” There are apps that streamline expense reporting. Worth some investigating. Note: There are features for BlackBerrys, too, that can help.

How have you managed to take some paper out of your T&E process? Share how you did it here.

Jennifer Azara
Jennifer Azara
Jennifer, a member of the CFO Daily News staff, has covered business and finance for more than 22 years. She has written for CFOs, credit and collections professionals and accounts payable practitioners and has spoken at industry conferences on sales and use tax compliance.

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