Why company policies are important when you manage employee expenses

  • 4 min read
Explore the significance of company policies in managing employee expenses effectively. Enforcing policies ensures cost savings, simplifies employee routines, and enhances transparency.
Company policies in organizations

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In a globalized world, business travels and employee expenses are increasingly influencing companies’ everyday activities. The many transactions can be difficult to keep on track, and employees might create excessive consumptions, if their expenses are not supervised and company policies are not enforced.

A survey made by Egencia, the corporate travel brand of the Expedia group, shows that approx. 50% of the employees who participated in the survey, spend much more than what company policies allow, when they for example book their business trips.

By defining, controlling and enforcing your company’s policies, you first and foremost increase the bottom line value. In addition to the financial benefits, you will make everyday life of your employees less complicated by ensuring that they do not lose track of what is right or wrong. Effective and verifiable company policies are therefore of great importance to your company as:

  • You achieve far greater savings on the bottom line
  • They help you avoid financial fraud and / or overuse
  • They provide a better overview and transparency as employees are proactively warned if they violate company policies

Company Policy Manager – a service that complements your Acubiz EMS solution

Acubiz helps you and your company to keep track on, whether your company policies and guidelines are complied with. Our Company Policy Manager delivers a wide range of options, making the process easy and manageable. You can, among other things, determine and control amount limits for each individual employee, which are enforced when the employee estimates his/her expenses – and furthermore, you can run randomized tests which control whether the required guidelines are complied with.

If you want to create transparency and a better overview, when you manage your employee transactions and in the end save both time and money, you can read more about Company Policy Manager here or contact us.

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