These days, more and more companies are looking for ways to save on what is usually the most significant source of expenses: Payroll. Payroll dominates the business climate as the major area of investment for enterprises in virtually all industries!
Over the last few years, of course, payroll has become a smaller portion of the financial “pie,” but it is still the biggest. The financial crisis drove down the cost of talent in many different fields, especially at the bottom and the middle of the corporate ladder.
However, your expense reports likely tell you there is more money out there to be saved!
How do you do it? Of course, you want to focus on attracting and keeping top talent, while still driving down the costs associated with their maintenance. One way that you can achieve this is by looking for ways to “homesource” your enterprise.
Watch Your Expense Reports Shrink With A More Adaptable Enterprise
Creative employees enjoy the opportunity to ply their trade from the environment that motivates them. With the right expense reporting software, you can help them achieve the setting they want while still saving money.
Executives, too, don’t always need to report to the office in order to make a big impact. When you have a good method of handling expense reports, you untether executives and other key decision-makers from your office.
The more versatile and adaptable your enterprise becomes, the less you will actually have to allocate for fixed office expenses. You might find that you can “homesource” 20% of your enterprise effectively.
How To Handle Travel Expenses That Might Come From A Flexible Workforce
A flexible workforce such as the one described might engage in more business travel than one that is strictly based in a centralised location. To ensure that your business can handle all of the additional paperwork, you should invest in a solution.
Ideal software for travel expense reports has the following characteristics:
— It is platform neutral, so it performs excellently no matter what kind of device accesses it.
— It is based in the cloud, so key information can be updated instantly and accessed anywhere.
— It is secure and can be managed from headquarters to give staff only permissions they need.
If you want to bring down expenses, it may be time to think outside the box. Rebuild your enterprise so that expense reporting no longer holds your employees back.