Terms like “digital transformation” and “robotics” can seem somewhat overwhelming and it can be hard to navigate the opportunities and figure out where to begin and end. That’s why I will give you a little guidance into an area, where you, with advantage, can start out.
With this blog post, I’ll continue where I left last time. This post will concern the implementation of an expense management system. Read on and get a few valuable tips on how to secure an optimal implementation process.
We give you our recommendations for the very best podcasts for when driving og travelling for meetings. You’ll might discover that they can be of high importance for your job as a salesman or more importantly, give you new ideas on how you look at your job and tasks.
I am extremely excited to present a new product today. During quite some time, we have experienced an increasing demand for our services from individual people. We are talking many different types of people here and counting both self-employed professionals and employees in different types of companies. As mentioned, the common denominator is that they seek an effective way to handle expenses and associated receipts as well as mileage. They will get that today.
Travel and employee expenses still count for around 10% of the budget in most companies. And this is only the expenses they have when they are out of the office. How and what a company is spending their money on is in constant change, and that’s why we think that it’s interesting to take a deeper dive into what’s trending right now.
“Cheapest isn’t always better”. A sentence which we’re all familiar with, but how does this express itself in our line of business?
When choosing an Expense Management solution, it is key to relate to the full process that you want optimized. Put in another way, it is crucial to have full insight into the process.
An investment in digital tools to support process optimization calls for resources related to implementation, purchase and maintenance. As a decision maker, you need to be able to demonstrate a positive ROI on a given investment.
Businesses often ask us for advice about card payment solutions for their employees. There are different types of solutions available in the market, but it is far from everyone that has the full overview of the differences. Even more important, it is only few who knows the actual implications for a business and its employees, […]
In a recent release from Levvel Research, a number of suggestions are made as to what challenges a company may encounter when they manage their expense management processes manually.
1. Manual keying and handling
The first place goes to manual keying and handling. This is the biggest problem by not having automated your processes. It’s not necessarily a problem itself but the consequences are often comprehensive. Manual work is extremely time-consuming, and it usually entails that more employees are becoming involved in the process. This means that a number of employees must focus on tasks that’s not a part of their core competencies.
The process costs can therefore suddenly get out of control if a highly paid employee must spend time filling in and forwarding envelopes with completed schemes and receipts in.
2. Lack of data insight
Insight to real time data is crucial for a company’s administration or management. If they for example fails to gain real time data insight on time spent on a given project, it leaves the management without the possibility to automatically be notified if more time has been spent on the project than the company can be reimbursed for.
Therefore, it can quickly lead to a conflict between customer and company, if the lack of data insight into an employee’s time or money consumption isn’t in accordance with company policy or what has been agreed with the customer.
3. Company policies aren’t incorporated
The previous point is completely in line with the next major challenge of manual handling of expenses. If a company has automated its processes around expense management, then company policies can set up limitations to ensure that no more money than agreed can be used. At the same time, it’s possible to dispatch two things: fraudulent overspending and cheating with expenses and the settlement hereof. Incorporation of company policies are therefore a good idea.
4. Missing reports
It may seem quite absurd, but one of the biggest challenges of managing expenses is that reports are disappearing. 24 % of the surveyed mentioned missing reports as one of their biggest challenges. We really hope that a hard-copy backup of the receipts is being taken. The error margin will always be greater when we carry handheld expense reports instead of automating the process.
There is almost always room for improvements and that is also a part of the journey towards developing your business, and yourself.
You’ve probably been in this situation many times before: You’ve been up extremely early and you only got many miles of highway and some visits to the gas stations in front of you. Lucky for you, music and the open road fits perfectly – and on the road no one can hear you sing (luckily). Therefore, we have made you a playlist that you can listen to when you want to feel freedom on the road.
”This Must Be The Place – Talking Heads
This song was released in November 1983 by the American new wave band, Talking Heads. The song may have lived in the shadow of the group’s other giant hits such as “Burning Down The House” and “Once in a Lifetime”. The song itself carries the subtitle “Naive Melody” and according to lead singer David Byrne, the song is something as distinctive as a love song where the text does not immediately make sense, but where the individual elements can have a great emotional effect. We just think that the guitar rifle and bass line, which is completely monotonous throughout all 4:55 minutes, is absolutely brilliant when driving on the road.
”Graceland – Paul Simon”
The country road is a perfect place for contemplation – whether we want it (or like it) or not. Paul Simon (yes, from Simon & Garfunkel) released in 1986 a perfect example of how music can suddenly make you sit and tilt your toes while all your thousand thoughts suddenly falls into place. The song itself is also a form of self-examination by Paul Simon. The text is about his thoughts on his way to Elvis’ Graceland and about his failed marriage with Carrie Fisher. It’s both nostalgic and hopeful at the same time. The same feelings as the road can give you if you let it.
”Going up the Country – Canned heat”
This song doesn’t immediately arouse recognition when we talk about good numbers for the road by Canned Heat. Why not choose “On the Road Again” from the same band? It MUST be “Going up the Country”. The song was released in 1968 and it’s the group’s greatest hit ever. This is inextricably linked to the fact, that the song became the unofficial theme song of the legendary Woodstock festival. “Going up the country” is all about freedom and adventure. With this number you end up dancing into the meeting with your customer. And you most likely end up bringing a signature with you on the way out.
”Home – Edward Sharpe and the Magnetic Zeros”
Play this song when the contract is signed and you’re on your way home. But wait until you’re almost home. Because as soon as Edward Sharpe and the Magnetic Zeros start whistling, the hair rises, and your right foot becomes slightly heavier. The song is new on our playlist and a pure love song. Maybe the number recalls a lot of good memories about where you were in the summer of 2010, when this huge hit broke out of the speakers around the world.
”The Way – Fastball”
This one is a bit daring. The giant hit from 1998 is about the dream of a life on the roads without a destination. However, the American couple who inspired Fastball to the text were found dead at the bottom of a canyon a few weeks after leaving the conventional life. Even though it certainly wasn’t the plan, the text ended up becoming a self-fulfilling prophecy: “… they’ll never get old and gray.”. Nevertheless, the song and the chorus are written in an optimistic tone and the song just have a huge sing-along potential which makes it perfect for a life on the road.