01kaboompics_Early-spring-garden_rev
30

Dec

The Changing Role of Technology in Finance

Industries are witnessing rapid innovation in technology that are impacting businesses at various levels. From digital payments to online processes every business is moving towards becoming more agile. The roles, duties and expectations from each department is evolving as they adopt to this new order. The Finance and Accounts Payable units led by the CFO are adapting to keep up with technology.

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19

Jul

Effectively Managing Your Assets Can Be A Success Factor For Business Operations.

When any business starts it is imperative that it acquires assets. It begins with laptops, office space, furniture and so on. This analogy is much simpler than the on ground reality, which is – businesses have been functioning for many years and they have over time acquired multiple assets (hundreds and thousands) across branches across the globe. What does it all lead to?

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03kaboompics_Blonde-woman-having-a-healthy-snack-at-the-wooden-pier
16

May

Is It Time To Set Your Procurement System On Autopilot?

A pilot sets the air carrier on auto pilot reaching optimal conditions after take-off and setting the trajectory and coordinates for its journey. He monitors the flight without constant hands-on human control. Similarly, has the time come to automate the age old procurement systems in your organization? Across industries, organizations are faced with the fact that procurement can be a tedious process.
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28

Apr

Build Strategic Value Into The Long Tail Of Procurement

Procurement has traditionally focused spend management efforts on their firm’s largest suppliers, the vital 20%. These efforts have produced the expected returns but years of cost cutting with large suppliers have squeezed out most of the savings to be gained. Pete Loughlin wrote in Purchasing Insight that ignoring tail spend is potentially leaving huge amounts of money on the table.
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20

Apr

Compliances Without Roadblocks?

Do you believe that compliance policies are actually roadblocks to achieving your objective at work? A majority of us will agree to this, at some point when we have faced an issue and confronted the accounts payable team. The common grounds for claims rejection are “not as per company policy”, while the employee’s response is, “Where is the expense policy published, had we known before we could have avoided the said expense?”

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07_kaboompics_Morning-coffee_rev
19

Dec

Take The Pain Out Of Branch Petty Cash With Expenzing Imprest Manager

Imprest is a sum of money that is kept in each location of an organization to take care of small expenses that inevitably need to be paid for immediately in cash. The quantum of this Imprest or Petty Cash that is kept at each location can vary from as little as a few hundred to several tens of thousand, based on the scale of expenses incurred there.

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03

Dec

The Story Of The Unhappy Vendor And The Professional Client

I met a highly respected and progressive organization last week that was trying to get over a vendor relationship problem. Some of their vendors were unhappy in spite of the company placing a lot of importance on their vendor relationships, treating them as partners, and investing in training their Accounts Payable teams on interpersonal skills and sensitizing them to the importance of collaborative relationships.
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08

Oct

Should Accounts Payable be allowed to reduce claimed expense amounts?

This is a conundrum faced by many organisations. An employee submits an expense report of USD 450. A/P feels that USD 390 is the justified amount which can be reimbursed. In some companies A/P edits (reduces) the amount and reimburses. This however has the drawback that employees learn to pad up expenses since they know that A/P is possibly going to reduce the expense amount. Continue reading

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CFO Summit on Expense Management Softwares
03

Apr

Team Expenzing on “Controls and Compliance” at the CFO Leadership Summit 2015 Mumbai

Recently I had the opportunity to do one of the key note presentations at the CFO Leadership Summit 2015. I spoke on a range of issues that keep CFOs awake. One of the main issues is Controls and Compliance. As a company specializing in expense and procurement management we have very deep experience in this area.

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expense-report
03

Mar

The Management Of Expense Management

However much we may want to wish them away, expenses are a part of the basic operations of an organisation. People have to buy supplies, travel, visit suppliers or clients, work late and hire cabs to get somewhere. There are many low value spending decisions that are taken by a large number of people often frequently. So the economic effect of all these decisions can be quite large. Management
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expense-management-nexstep
08

Feb

A Nation Obsessed With Paper

On a recent visit to Colombo I travelled by public bus and paid the conductor for my ticket but did not get one. I was thinking about the great public transport scam that I was now a party to before I realised that no paper tickets were being issued. The transport corporation had done away with the little stubby tickets and rely on the conductor to control ticketless travel.

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