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With social isolation being the only way to combat the spread of the virus, working from home has emerged as the new normal. This shift offers organizations a chance to design expense programs that have more scope than travel and expense. Such a system helps shape the comprehensive, all-inclusive company culture moving forward. Maintaining relevance…
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Best KPIs to measure the success of your channel partnerships
When it comes to sales KPIs, there are specific performance metrics that are considered the gold standard by many. This holds within the SaaS sales world with metrics such as revenue, leads, customer lifetime value (CLV), and churn rate. However, the metrics for measuring channel partner success are not as simple as that of a…
Managing remote spendings while maintaining team morale
With working from home set as the new paradigm, it is growing essential to manage meetings, projects, and team communication seamlessly for different teams with different requirements. Organizations usually go ahead and install platforms that allow them to decentralize work. This is the right move given that we are still working to understand the new…
Expert view on the changing role of the finance function in the digital era
Traditionally, the finance sector in any organization was programmed to optimize available, limited financial resources. This limits the scope of the finance department to obtain funds to reach organizational goals. With time events such as liquidation, mergers, acquisitions, and consolidation have become a crucial component of the finance function. This is the episodic role of…
Ideas for creating a holiday rewards program for your channel partners
The COVID-19 pandemic has decidedly had a long-term impact on shopping habits, leaving brands and retailers scrambling. Despite the ongoing crisis, loyalty programs have remained a viable retention tool. Here are a few holiday reward program ideas: 1. Launch the program before the holidays Around the holiday season, while traditional stores and retailers will be…
Rewards and recognitions: The basic guide
Employee recognition is essential to drive employee engagement. Rewards and recognition programs are the building blocks of an employee engagement strategy. Employee Recognition For a recognition program to not just survive, but flourish, the leadership and management need to have conviction in the belief that each employee brings in unique value addition. Within the kinds…
On-the-go expense management for logistics employees
Logistics service providers who offer supply chain management and logistics solutions operate on a large scale. Their business typically runs out of several hundred, if not thousand locations with a large number of logistics centres and offices. Their employees are constantly on the move shuttling between cities. Challenges with traditional expense management in logistics companies…
Identify the risk of Duplicate Invoicing and prevent them
Duplicate invoice payments are pernicious. Research shows that around 3.6% of invoices manually entered include an error caused by data entry. On average, approximately 0.1% to 0.05% of invoices paid are typically duplicate payments. These could potentially, for a medium-size organisation with annual costs of $100 million, represent a loss of $300,000 over a three…
Why You Should Stop Paper-based Expense Reporting
Despite being in the 21st century several organizations and companies rely largely on paper-based and manual expense reporting. While this might have been the norm several years ago, continuing to process expenses the same way leads to companies missing out on key aspects of the strategy that allows them to maintain relevance while saving time,…
5 Ways to Make Work Anniversaries More Meaningful, Virtually
In light of the current public health crisis, businesses all over the world have been experiencing massive turmoil. As a result, they are being forced to implement drastic and lasting changes. However, in this turmoil, it is the employees who have bore the brunt of the impact. According to research by Barnett Waddingham, more than…