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These issues are pushing companies to explore solutions, like virtual cards and blockchain, to help fill the gaps that make the corporate spending process so slow. In the October Workforce SpendManagement Tracker , PYMNTS looks at the way companies are using new solutions and technologies to give money and time back to everyone.
PEX, founded by Grant in 2006, offers software-as-a-service workforce tools designed for businesses not typically served by enterprise SaaS spendmanagement solutions. And that’s the main theme of a discussion that Toffer Grant, CEO of PEX , recently had with Karen Webster as part of the PYMNTS “CEO Conversation Series.”.
It’s a phrase that can cause several types of jobsite headaches — stepping away from a project to hit a hardware store with petty cash, for instance, or calling the boss to gain approval to go over a card spending limit. SpendManagement Change. SpendManagement Misconception. Time Is Money.
Up till now, spendmanagement has been tied to what Barker termed the “invisible bank,” where employees typically will spend money using their own (plastic) cards, and then claim those funds back through expense reports (where reconciliation can be time consuming and messy).
Monthly expense reports: Long-term expense reports: Recurring expense report: Travel and entertainment (T&E) expense reports: Content of a business expense report. 5) Use a spreadsheet or an expense management solution to create the report. Table of Contents FirstHeading What is expense reporting? Types of expense reports.
The big action in corporate spendmanagement is travel and entertainment (T&E), where the 800-pound gorilla has long been Software-as-a-Service (SaaS) goliath, SAP Concur. billion expense management pie), a group of competitors has merged into a new company to challenge SAP’s category dominance. Follow the AI Money.
At most, a manual approach to spendmanagement can attempt to uncover potential patterns: an employee that is continually breaching internal spend policy, for instance. But without an automated approach to spendmanagement, organizations are missing out on more than the ability to reign in excessive spend by one worker.
Optimism continues to dwindle for the globe’s corporate travel sector, with industry heavyweights expecting business trips to remain on pause for at least the rest of the year — and some anticipating permanent changes to businesses’ travel and entertainment (T&E) spend. “Payment decision-making is often centralized.
From beauty care boxes to online entertainment streaming services, the world of subscriptions is expansive — and getting bigger. Corporations are predicted to bump their spending on SaaS apps to $50.8 Consumers aren’t the only ones getting on board, though, as businesses jump on the subscription bandwagon in troves.
” The entertainment industry isn’t the only field in which this adage holds true, though. These companies are now using workforce spendmanagement tools like corporate cards and reconciliation services to ensure both deadlines and client expectations are met. As the old show-business saying goes, “The show must go on.”
has agreed to sell ticketing business StubHub to Viagogo Entertainment Inc. In a feature story, Rich Wessels, treasurer for transportation management and logistics firm Transplace , explains the “chicken-and-egg” dilemma that logistics companies encounter when considering the potential benefits of AP automation. for $4 billion.
The integration with Gmail makes it possible for receipts and bill payments to become part of the transaction and spendmanagement functionality. There would be a way to opt-in to receive personalized offers and rewards and have those offers automatically applied at checkout when shopping and paying at those merchants.
If history is any indication, corporate travel and entertainment expense management technology is poised to drive even greater operational efficiency across the enterprise in the year ahead. Here are two growing trends we can expect to see more of in 2017.
Oh, and the latest spendmanagement report dovetails well here, finding that 37 percent of CFOs expect to spend more on travel and entertainment in 2018, with 60 percent of business trips turning into a blend of business and leisure. In other words, the corporate jet-set jettisons the paper receipt.
Project Cache will move the management of consumers’ separate financial services, banking, payments, investments, commerce, messaging, entertainment, offers, media and information apps into an app powered by Google’s ecosystem.
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