Determining the Cost of Expense Reporting

To determine the cost of administering a single expense report, we should first look at the expense report cycle. The chart below breaks the cycle into three distinct elements. It is imperative for all companies to look carefully at each single element of their own expense report cycle to determine their company's processing costs.

As we have seen in most other finance and administration processes, automation is the key to obtaining process improvement and ultimately cost savings. It is inevitable that companies who implement an automated end-to-end expense management solution, and address every element of the expense report cycle will save the most amount of money than those who only partially address this expense cycle.

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