Value pillars

Shrink your spend. Comply with policies, contracts, and regulations. And make your process fast and efficient.

Reduce spend

Managing spend is no small task. Your company’s spend is growing, but you don’t have the manpower to make sure the expense reports you’re reimbursing and the invoices you’re paying are accurate. You may be relying on sample-based auditing for employees’ T&E expenses and two- or three-way matching to validate invoice-based spend, but are you finding all of the errors, waste, and fraud that’s there? In a typical enterprise, as much as five percent of operating expense is duplicate expense claims, human errors, overpaid invoices, expense-invoice crossover, employee cheating, and even fraudulent supplier payments. That’s real money!

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Comply with policy

Making sure your business expenses comply with policy, negotiated contracts, and spend regulations is no small feat. It’s hard to get people to read the T&E policy, much less follow it. When it comes to invoices, you may not even have the latest negotiated contract, so checking all of your negotiated volume discounts and payment terms right can be elusive at best. And regulatory compliance? If you’re auditing only a fraction of your expenses and invoices, how the heck do you keep your company out of hot water and off of the front page of the newspaper?

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Streamline process

Audit all expenses and invoices or move quickly? This is one of the hardest spend management tradeoffs finance leaders have to make. Where do you draw the line? If you’re in a regulated or conservative organization, you don’t have a choice, so you move slowly and deliberately - and allocate the proper resources - to make sure you get it right. And if you’re in a less rigid industry, you can move faster but you risk not seeing the errors or policy violations that can really cost you.

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