For any organisation that depends on travel and entertainment (T&E) to generate new
business and manage its operations, one truth is evident - managing these expenses can
be a monumental challenge.
The Red Flag Rule requires all “financial institutions” and creditors to implement an Identity Theft Prevention Program
to detect, prevent and mitigate identify theft for covered accounts. Coverage has also been extended to Hospitals and other
Health Care organizations because of the extreme negative effect it can have on a person’s medical history.
Curvature's State of the Third-Party Maintenance MarketCurvature
5 Signs Third-Party Maintenance is Poised for Growth: from cost savings to freedom from OEM contracts, the TPM market continues to experience exponential growth. Find out why leading industry analyst firms Gartner and Forrester took a closer look at this market trend.
P&C Claims Automation Solution - A Competitive AdvantageParagon Solutions
Paragon Solutions, Inc.
Mike Cloutier – Vice President Insurance Markets
http://www.consultparagon.com/industries/insurance/property-and-casualty.html
ACORD Conference May 15-17, 2012
How much can your company expected to lose in a large data breach? Find out based upon an analysis of historical industry data.
Use the model to estimate cyber insurance coverage, communicate potential loss to the board of directors and senior management, justify security investments and incident response.
To avoid becoming a "dot-bomb", organizations must carefully evaluate their internet strategy by addressing key issues. They must consider how their brand, management, operations, and equity will be impacted. Specifically, they need to determine if their brand naturally extends online, if management has the needed skills, if systems can support online operations, and if outside capital is required. Organizations must also understand the strategic implications an online channel may have on their existing channels to avoid conflicts that can dissatisfy customers. Failure to properly evaluate these issues can lead organizations to pursue online initiatives without a sound strategy, wasting cash and losing shareholder support.
Case Study: Prevention Is Better Than Cure 2009 04Julian Curtiss
In many of our recent dealings with South African companies, there has been a common issue
with abuse and fraud committed by employees on their company issued credit cards. These
cards are generally provided to employees on the understanding that they are to be used for
business expenses only, and in most cases this is reinforced by either the company’s policies or
a specific “cardholder use” agreement signed by the employee.
The costs of processing purchase orders and
payments are presenting a challenge to all organisations. Certainly, given
the current economic climate, all companies will be seeking new ways to
eliminate unnecessary and wasteful costs.
Putting The Commerce Back In E Commerce 2001Julian Curtiss
Skills and cynism aside, what gives me the most sleepless nights is the fact that Critical Success Factor #1 of any eCommerce implementation is the provision of a stable technology platform capable of feeding into the eProcurement, eBusiness and CRM systems clean, accurate and reliable information. Step 1, before anything else… finish your ERP implementation!
The Red Flag Rule requires all “financial institutions” and creditors to implement an Identity Theft Prevention Program
to detect, prevent and mitigate identify theft for covered accounts. Coverage has also been extended to Hospitals and other
Health Care organizations because of the extreme negative effect it can have on a person’s medical history.
Curvature's State of the Third-Party Maintenance MarketCurvature
5 Signs Third-Party Maintenance is Poised for Growth: from cost savings to freedom from OEM contracts, the TPM market continues to experience exponential growth. Find out why leading industry analyst firms Gartner and Forrester took a closer look at this market trend.
P&C Claims Automation Solution - A Competitive AdvantageParagon Solutions
Paragon Solutions, Inc.
Mike Cloutier – Vice President Insurance Markets
http://www.consultparagon.com/industries/insurance/property-and-casualty.html
ACORD Conference May 15-17, 2012
How much can your company expected to lose in a large data breach? Find out based upon an analysis of historical industry data.
Use the model to estimate cyber insurance coverage, communicate potential loss to the board of directors and senior management, justify security investments and incident response.
To avoid becoming a "dot-bomb", organizations must carefully evaluate their internet strategy by addressing key issues. They must consider how their brand, management, operations, and equity will be impacted. Specifically, they need to determine if their brand naturally extends online, if management has the needed skills, if systems can support online operations, and if outside capital is required. Organizations must also understand the strategic implications an online channel may have on their existing channels to avoid conflicts that can dissatisfy customers. Failure to properly evaluate these issues can lead organizations to pursue online initiatives without a sound strategy, wasting cash and losing shareholder support.
Case Study: Prevention Is Better Than Cure 2009 04Julian Curtiss
In many of our recent dealings with South African companies, there has been a common issue
with abuse and fraud committed by employees on their company issued credit cards. These
cards are generally provided to employees on the understanding that they are to be used for
business expenses only, and in most cases this is reinforced by either the company’s policies or
a specific “cardholder use” agreement signed by the employee.
The costs of processing purchase orders and
payments are presenting a challenge to all organisations. Certainly, given
the current economic climate, all companies will be seeking new ways to
eliminate unnecessary and wasteful costs.
Putting The Commerce Back In E Commerce 2001Julian Curtiss
Skills and cynism aside, what gives me the most sleepless nights is the fact that Critical Success Factor #1 of any eCommerce implementation is the provision of a stable technology platform capable of feeding into the eProcurement, eBusiness and CRM systems clean, accurate and reliable information. Step 1, before anything else… finish your ERP implementation!
With information technology playing an increasingly substantive role in the running of captive entities, its application in law, claims management and e-billing are explored.
Forrester Report: The Power Of Real-Time InsightSAP Concur
In a survey of 348 financial decision-makers around the world, Forrester found that T&E is the second most difficult item for companies to control. Most firms wait for their employees to manually enter their T&E data after the expenditure is already made so that the resulting T&E reporting process focuses on retrospective compliance and budgeting. Analysis of T&E trends and potential cost optimization, if done at all, is done primarily via spreadsheets.
The document examines the costs of a manual expense filing and reimbursement process at a small company with 300 employees over 12 months. Through simulation, it was found that processing 2500 expense reports per year could cost the company up to $1.35 million in unbilled costs. The simulation identified that employees spent the most time gathering receipts and preparing reports, while managers were the second highest cost due to reviewing expenses. The analysis suggests streamlining the process through automation, expense thresholds for different approvers, and other methods to reduce hidden costs.
The document discusses strategies for effectively managing travel and entertainment (T&E) expenses. It notes that high transaction volumes, unpredictable spending, and lack of cost understanding prior to purchases require strong process control. Traditional T&E expense management involves slow reimbursement processes. The document recommends understanding spending patterns, implementing expense management automation and corporate cards, auditing expenses, and leveraging spending data to improve policies and reduce non-compliant expenses.
Working Capital Management: The Missing Link in Payables and P2PSarah Fane
While automation is widely adopted across the Procure-to-Pay (P2P) process, many companies are not leveraging technology to the full extent, and therefore not capturing the full range of benefits.
There is one area in particular where organizations are missing important opportunities. When it comes to working capital management, many still follow traditional approaches that don’t leverage digital innovation for business advantage.
This report will examine where companies are falling short and how to make the most of your investment in your P2P process.
The document summarizes key findings from Aberdeen Group's 2006 Invoice Reconciliation and Payment Benchmark Report. It finds that most companies have limited visibility into spending due to a reliance on paper invoices and lack of integrated systems. Only 4% of surveyed companies have real-time visibility into costs. It recommends that companies automate invoice processing, manage payment terms, leverage financial institution services, and integrate source-to-pay systems to improve visibility into spending and manage costs.
Using Advanced Analytics to Combat P&C Claims FraudCognizant
P&C insurers need to embrace predictive and advanced analytics -- as well as analytics as a service -- to combat the growing complexity and sophistication of claims fraud.
Streamlining Submission Intake in Commercial Underwriting for Middle Market S...Cognizant
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This document discusses how financial institutions can reduce costs in check processing operations through automation technologies. It summarizes that check volumes are declining slowly but still significant. New automation solutions from Orbograph can reduce costs by up to 40% by achieving high recognition rates of 98% and accuracy of 99%, eliminating manual data entry and balancing. Orbograph provides monitoring and tuning tools to ensure performance levels are continuously met.
The document discusses changes and challenges facing revenue assurance (RA) with new technologies like 4G/LTE. Key points include:
1. New technologies and services like IoT, mobile payments require new RA approaches as CDR data is replaced by transactions/events and there is huge volumes of "big data".
2. Billing is shifting to flat rates and subscriptions requiring subscription assurance to dominate RA operations.
3. Internal fraud risks increase as new network elements are non-standard, allowing manipulation. Identity theft through device/account manipulation also poses risks.
4. RA systems must integrate diverse data sources across billing, IMS, HSS etc. to assure different revenue streams from subscriptions, pre
Four key challenges in the financial sectorSally Hunt
The document discusses four key challenges facing financial services organizations: 1) Meeting demand for improved customer service by giving staff immediate access to customer information to resolve issues faster, 2) Meeting stringent compliance demands by establishing secure procedures to avoid data breaches and loss, 3) Driving efficiency and cost reduction by digitizing paper documents to gain space and increase productivity, and 4) Making the best use of new technology by digitizing information to achieve real-time access and agility. The document promotes smart information management solutions like scanning and secure offsite storage of digital records to help financial organizations address these challenges.
This document provides 7 tips for beating the IT compliance budget crunch through streamlining risk and compliance efforts using IT governance, risk, and compliance (GRC) automation software. Such software can help automate manual processes like asset inventory, control testing, and data collection to reduce costs while improving compliance. The document also discusses how focusing on critical issues, eliminating process overlap, and developing a continuous risk management infrastructure can provide ongoing budget relief through more effective resource allocation.
The document discusses next generation check recognition technologies that can improve teller image capture (TIC) and remote deposit capture (RDC) workflows. It outlines several business problems with early generation technologies like low read rates, balancing issues, and fraud risks. Next generation technologies aim to solve these by using multi-engine correlation, dynamic thresholding, item verification, and check box detection to achieve near 100% recognition performance and reduce errors. The benefits include cost savings, improved efficiency, customer experience, and reduced fraud.
Robotic Process Automation (RPA) in Insurance claim processing refers to the use of software robots to automate and streamline the handling of insurance claims. RPA can be used to automate repetitive, rule-based tasks such as data entry, document processing, and claims verification.
RPA can help insurers to accelerate claims processing, reduce manual errors, and increase operational efficiency. By automating routine tasks, RPA frees up human resources to focus on more complex tasks and improves customer experience by reducing the time taken to settle claims. Read this presentation to know more.
Reinventing AP: How employing automation leads to scalable growthCertifyInc
Learn why organizations of all sizes are leveraging AP automation to manage cash flow better, improve efficiency, and increase employee happiness in this on-demand webinar with the Institute of Management Accountants.
Reinventing AP: How employing automation leads to scalable growthAshley Emery
Learn why organizations of all sizes are leveraging AP automation to manage cash flow better, improve efficiency, and increase employee happiness in this on-demand webinar with the Institute of Management Accountants.
Original airdate: September 9, 2020
Speaker: Mark Brousseau, Brousseau & Associates
The document summarizes Accenture and Quantexa's Continuous KYC (cKYC) solution, which aims to improve financial institutions' Know Your Customer (KYC) processes. The cKYC solution utilizes automation, advanced analytics, and a unified customer network view to enable event-based monitoring, dynamic risk scoring, and simplified enhanced due diligence. This is intended to reduce costs, improve inefficiencies, and enhance the client experience compared to traditional periodic KYC reviews. The solution involves a multi-phase approach including an assessment of the client's current KYC process, tailored solution design, piloting, testing and improvements before full deployment across the client's customer population.
The document discusses the quote-to-cash (Q2C) business process for life science organizations. It describes the three phases of the Q2C process: quote/contract, revenue recognition, and cash. It outlines common pitfalls that organizations face in each phase, such as failing to consider customer data in pricing analyses. It recommends taking an end-to-end view of the process and addressing pitfalls through standard workflows, documentation, separation of duties, and cross-functional collaboration to improve efficiency, compliance, and profitability.
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With information technology playing an increasingly substantive role in the running of captive entities, its application in law, claims management and e-billing are explored.
Forrester Report: The Power Of Real-Time InsightSAP Concur
In a survey of 348 financial decision-makers around the world, Forrester found that T&E is the second most difficult item for companies to control. Most firms wait for their employees to manually enter their T&E data after the expenditure is already made so that the resulting T&E reporting process focuses on retrospective compliance and budgeting. Analysis of T&E trends and potential cost optimization, if done at all, is done primarily via spreadsheets.
The document examines the costs of a manual expense filing and reimbursement process at a small company with 300 employees over 12 months. Through simulation, it was found that processing 2500 expense reports per year could cost the company up to $1.35 million in unbilled costs. The simulation identified that employees spent the most time gathering receipts and preparing reports, while managers were the second highest cost due to reviewing expenses. The analysis suggests streamlining the process through automation, expense thresholds for different approvers, and other methods to reduce hidden costs.
The document discusses strategies for effectively managing travel and entertainment (T&E) expenses. It notes that high transaction volumes, unpredictable spending, and lack of cost understanding prior to purchases require strong process control. Traditional T&E expense management involves slow reimbursement processes. The document recommends understanding spending patterns, implementing expense management automation and corporate cards, auditing expenses, and leveraging spending data to improve policies and reduce non-compliant expenses.
Working Capital Management: The Missing Link in Payables and P2PSarah Fane
While automation is widely adopted across the Procure-to-Pay (P2P) process, many companies are not leveraging technology to the full extent, and therefore not capturing the full range of benefits.
There is one area in particular where organizations are missing important opportunities. When it comes to working capital management, many still follow traditional approaches that don’t leverage digital innovation for business advantage.
This report will examine where companies are falling short and how to make the most of your investment in your P2P process.
The document summarizes key findings from Aberdeen Group's 2006 Invoice Reconciliation and Payment Benchmark Report. It finds that most companies have limited visibility into spending due to a reliance on paper invoices and lack of integrated systems. Only 4% of surveyed companies have real-time visibility into costs. It recommends that companies automate invoice processing, manage payment terms, leverage financial institution services, and integrate source-to-pay systems to improve visibility into spending and manage costs.
Using Advanced Analytics to Combat P&C Claims FraudCognizant
P&C insurers need to embrace predictive and advanced analytics -- as well as analytics as a service -- to combat the growing complexity and sophistication of claims fraud.
Streamlining Submission Intake in Commercial Underwriting for Middle Market S...Cognizant
For many insurance carriers, data submission for intake is still a manual, time-consuming process that ultimately takes up valuable underwriter time better spent on risk selection and pricing. We offer a streamlined submission intake process for commercial insurance firms that integrate automated tools and manual prequalification to handle ACORD forms and other data formats.
This document discusses how financial institutions can reduce costs in check processing operations through automation technologies. It summarizes that check volumes are declining slowly but still significant. New automation solutions from Orbograph can reduce costs by up to 40% by achieving high recognition rates of 98% and accuracy of 99%, eliminating manual data entry and balancing. Orbograph provides monitoring and tuning tools to ensure performance levels are continuously met.
The document discusses changes and challenges facing revenue assurance (RA) with new technologies like 4G/LTE. Key points include:
1. New technologies and services like IoT, mobile payments require new RA approaches as CDR data is replaced by transactions/events and there is huge volumes of "big data".
2. Billing is shifting to flat rates and subscriptions requiring subscription assurance to dominate RA operations.
3. Internal fraud risks increase as new network elements are non-standard, allowing manipulation. Identity theft through device/account manipulation also poses risks.
4. RA systems must integrate diverse data sources across billing, IMS, HSS etc. to assure different revenue streams from subscriptions, pre
Four key challenges in the financial sectorSally Hunt
The document discusses four key challenges facing financial services organizations: 1) Meeting demand for improved customer service by giving staff immediate access to customer information to resolve issues faster, 2) Meeting stringent compliance demands by establishing secure procedures to avoid data breaches and loss, 3) Driving efficiency and cost reduction by digitizing paper documents to gain space and increase productivity, and 4) Making the best use of new technology by digitizing information to achieve real-time access and agility. The document promotes smart information management solutions like scanning and secure offsite storage of digital records to help financial organizations address these challenges.
This document provides 7 tips for beating the IT compliance budget crunch through streamlining risk and compliance efforts using IT governance, risk, and compliance (GRC) automation software. Such software can help automate manual processes like asset inventory, control testing, and data collection to reduce costs while improving compliance. The document also discusses how focusing on critical issues, eliminating process overlap, and developing a continuous risk management infrastructure can provide ongoing budget relief through more effective resource allocation.
The document discusses next generation check recognition technologies that can improve teller image capture (TIC) and remote deposit capture (RDC) workflows. It outlines several business problems with early generation technologies like low read rates, balancing issues, and fraud risks. Next generation technologies aim to solve these by using multi-engine correlation, dynamic thresholding, item verification, and check box detection to achieve near 100% recognition performance and reduce errors. The benefits include cost savings, improved efficiency, customer experience, and reduced fraud.
Robotic Process Automation (RPA) in Insurance claim processing refers to the use of software robots to automate and streamline the handling of insurance claims. RPA can be used to automate repetitive, rule-based tasks such as data entry, document processing, and claims verification.
RPA can help insurers to accelerate claims processing, reduce manual errors, and increase operational efficiency. By automating routine tasks, RPA frees up human resources to focus on more complex tasks and improves customer experience by reducing the time taken to settle claims. Read this presentation to know more.
Reinventing AP: How employing automation leads to scalable growthCertifyInc
Learn why organizations of all sizes are leveraging AP automation to manage cash flow better, improve efficiency, and increase employee happiness in this on-demand webinar with the Institute of Management Accountants.
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Learn why organizations of all sizes are leveraging AP automation to manage cash flow better, improve efficiency, and increase employee happiness in this on-demand webinar with the Institute of Management Accountants.
Original airdate: September 9, 2020
Speaker: Mark Brousseau, Brousseau & Associates
The document summarizes Accenture and Quantexa's Continuous KYC (cKYC) solution, which aims to improve financial institutions' Know Your Customer (KYC) processes. The cKYC solution utilizes automation, advanced analytics, and a unified customer network view to enable event-based monitoring, dynamic risk scoring, and simplified enhanced due diligence. This is intended to reduce costs, improve inefficiencies, and enhance the client experience compared to traditional periodic KYC reviews. The solution involves a multi-phase approach including an assessment of the client's current KYC process, tailored solution design, piloting, testing and improvements before full deployment across the client's customer population.
The document discusses the quote-to-cash (Q2C) business process for life science organizations. It describes the three phases of the Q2C process: quote/contract, revenue recognition, and cash. It outlines common pitfalls that organizations face in each phase, such as failing to consider customer data in pricing analyses. It recommends taking an end-to-end view of the process and addressing pitfalls through standard workflows, documentation, separation of duties, and cross-functional collaboration to improve efficiency, compliance, and profitability.
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