The Top 5 Expense Management Challenges for SMBs

Yup, #management is about #cost control. Not the most exciting part but you gotta do it.

The Top 5 Expense Management Challenges for SMBs

Posted byDennis Najjar on Fri, Feb 13, 02015 Businesses can’t operate efficiently if they don’t know how their budgets are being spent. Often, however, companies don’t maintain effective policies and procedures to ensure accurate reporting of expenses. In some cases, expense padding and outright fraud are the culprits. According to the Association of Certified Fraud Examiners, the typical American company loses 5 percent of annual revenue due to fraud, and 15 percent of that is from fraudulent expense reporting. Most expense management (EM) problems are the result of ineffective policies and procedures. Identifying where policies are deficient and addressing these problems can solve the majority of expense management issues. Following...Read More

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