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A Case for T&E Automation
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For most organizations, traveling is a crucial part of doing business. Whether it's to visit a client or attend a conference, there are times when your business depends on traveling.
While businesses depend on travel, the travelers depend on accounts payable for ther reimbursements. This issue features information to help make sure your department is processing travel and entertainment expenses efficiently. |
| Patrick Harbin – Editor
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T&E Automation |
Travel and expense reporting and reimbursement are handled in 87 percent of AP departments. Like all AP processes, paper-based T&E processing is expensive and time consuming.
According to recent TAPN Benchmark data, less than half of departments still have an entirely paper-based T&E process. Benefits of automating T&E include:
- Cost Savings: The average response from participants was that costs decreased by 50 percent.
- Faster Reimbursements: Expense reports can be approved the day they are received.
- Policy Compliance: Automated T&E systems can refuse to process reports without receipts.
Moving from a paper-based T&E process to an automated one can be a challenge. Check out The Accounts Payable Network video education seminar, Automation of Travel and Entertainment Reporting, featuring Loette King Sr. Director, Procurement and Payment Services, Emory University, for tips to avoiding many of the common pitfalls.
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| Businesses Cutting Travel |
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As organizations brace for what may be a prolonged economic slowdown, many are cutting business travel to reduce costs. Read the story on TAPC.
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Just for Fun! |
All employees enjoy working in a friendly environment that encourages openness. However, employees should be expected to exercise a certain degree of discretion when talking with their colleagues.
For instance, it might not be a good idea to tell everyone you're looking for a new job. See 8 Things You Should Never Tell Your Co-Workers to make sure your slip of the tongue doesn't earn you a pink slip.
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