Did you know that behind payroll, T&E is your company’s largest discretionary expense? Travel and entertainment spending can represent as much as 6% of all corporate expenses in a business and that percentage is growing! In today’s business environments, it’s important to make every dollar count, but with the large volume of transactions and growing globalization of business, it can be difficult to monitor expenditures in a timely and effective way. This leads to policy abuse, fraud and unforeseen T&E waste.
In addition to the technology solution we provide for monitoring your corporate spending, we also offer thought leadership on best practices to round out your audit and cost-cutting efforts. This week Oversight is pleased to unveil our latest white paper, “6 Tips to Reduce T&E Waste.” The white paper is an amalgam of Oversight’s Chris Rossie’s previous blog posts on the same subject. We dusted off those tips, put them into a slick white paper with fancy graphics and are now offering it to our readers!
The white paper covers in greater detail our most popular and effective tips for combating T&E waste in your own organization, including:
- How to stop duplicate submissions,
- Identifying and addressing misclassified expenses,
- Focusing on suspicious out-of-pocket expenses,
- Keeping an eye on meal and lodging outliers,
- ….And don’t forget about monitoring those receipt limits!
As an added bonus we provide detailed examples of which employee behavior to look for when it comes to possible policy abuse, and three proven tricks to help you keep an eye on meal and lodging outliers.
We’ve recently re-vamped our approach to white papers. Rather than one long, eight page, research-type paper, we’ve remodeled our look to mirror magazine articles, giving customers the perfect marriage of consumable content with engaging graphics. At three and a half pages, this white paper provides great ideas in ten minutes or less.