“Expense Management” refers to the systems deployed by a business to process, pay, and audit employee-initiated expenses. These costs include, but are not limited to, expenses incurred for travel and entertainment. Expense management also includes the policies and procedures that govern such spending, as well as the technologies and services utilized to process and analyze the data associated with it. Software to manage the expense claim, authorization, audit and reimbursement processes can be obtained from organizations that provide a licensed software, implementation and support service, or alternatively, from software-as-a-service (SaaS) providers. SaaS providers offer on-demand cloud-based applications managed by a third party to improve the productivity of expense management.
What is Expense Management?
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