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The COVID-19 pandemic is an unnerving global crisis that has held the world hostage. It’s definitely a challenge to the world’s healthcare system. The repercussions of this viral disease go much further, shaking the economy to its core. When Prime Minister Narendra Modi announced a 3-week lockdown, a country of 1.3 billion people and a…
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Build Relationships, Don’t Sell
During this pandemic, every company/brand is experiencing varying degrees of change based on their role, industry, size, and geography. As individuals and organizations, the context has never been more important in all our actions and communication. In the face of the unprecedented scale of this pandemic, it is important to be sensitive towards it and…
Challenges Faced by SMEs during COVID-19
According to the OECD Economic Outlook Interim Report March 2020, projections for annual global GDP growth for 2020 have dropped by half a percentage point to 2.4% due to the coronavirus outbreak. SMEs represent about 90% of businesses and more than 50% of employment worldwide. Formal SMEs contribute up to 40% of national income (GDP)…
Tips for Reducing Business Travel Costs
Business leaders across the globe corroborate that business travel costs are hard to predict and control. The Global Business Travel Association predicts that corporate travel is expected to rise to $1.7 trillion globally by 2022; it’s imperative that businesses optimize and spend smarter. In this blog, we will discuss some tips that can help companies gain…
How The Finance Team Can Ensure Audit-ready Business Receipts
To establish that all deductions and returns are viable, business receipts are rather essential. They also help identify differences between internal finance records and bank statements. A lack of receipts indicates an unreliable record-keeping system. Receipt management is key to simplifying spend management and ensuring your finance team is audit-ready. This post will articulate the…
Tech Candidates who claim to have experience have actually only dealt with the subject matter from a periphery level
• The shortage of engineers and researchers for the deeptech sector is going to rise by a staggering 200x in 2020 • At the same time, Indian analytics, data science, and big data industry is growing at 33.5% CAGR • The industry believes that early introduction to technologies is going to be the …
Why Businesses Should Automate Mileage Tracking
All business-related drives can be used to claim mileage deduction. Whether it’s an on-site visit, meeting clients, or providing client demos, tracking your mileage is imperative as it impacts overall employee productivity and also helps in tax savings. The mileage rate is updated annually and forms the foundation for calculating mileage allowance. In situations when…
5 Maturity Stages of Travel and Expense Management
Business travel impacts a wide range of objectives including sales and partnerships for enterprises today. With increasing business travel, there are more bills, expense reports, and reimbursements to deal with. Whether you follow the paper-based system or a computer-based application, expense management requires the collection of all related invoices and receipts to make the right…
5 Common Mistakes in Expense Management
Traditional expense management practices can not only lead to inefficiencies in the process but also expose the organization to risks of fraud and non-compliance. As business travel increasingly becomes indispensable, it’s imperative that the businesses figure out better ways to manage travel expenses among other employee expenses. The process of managing receipts and submitting expenses…
How Expense Management Can Help CFOs
Travel and expense (T&E) cost is usually a close second after wages and sales-and-marketing outlay when it comes to controllable costs. According to the Association of Certified Fraud Examiners’ 2018 Report to the Nations, expense reimbursement fraud accounts for 21 percent of fraud in small businesses and 11 percent in large businesses. Adoption of technology with…
