Expense Management

Business travel-related costs are often not controlled by effective expense management measures, though business travel expenses are the second largest controllable expense category in organizations today. Successful expense management can be achieved by:

• Creating a clear and specific travel and entertainment policy
• Educating your business travelers on travel and entertainment policy
• Utilizing an automated T&E system
• Analyzing travel spend to identify areas for cost savings
• Establishing negotiated rates with suppliers
• Evaluating the use of travel alternatives when appropriate
• Reimbursing travelers in a timely fashion to increase employee satisfaction
• Conducting an audit of T&E expenses to receipts to identify fraud and to evaluate overall process and determine corrective plans

Expense management need not be burdensome, but it requires consistent execution.   Many companies opt to outsource expense management in part or in whole. Contact Runzheimer International at marketing@runzheimer.com or 800- 558-1702 for expense management solutions.