Creating Oversight and Transparency Into T&E Spending

Pursuing new customers and nurturing existing relationships requires travel and expense management (T&E) for meetings, meals and entertainment. These costs can add up quickly. Business travel in the United States is extensive. Without an automated system in place, employees spend a significant amount of time in manually completing and processing reports.

Consider for your company:

  • How many of your employees routinely submit expense reports?
  • Do you know how much time your employees spend on these reports?
  • Do you have analytics that provide insight into your top spending categories and where you might be able to achieve the most significant cost savings?

If you are struggling with some of the answers to these questions, you are not alone. Frequently, financial advisory firms tell us they lack adequate oversight and transparency around T&E spending.

As businesses grow, many leaders find they are not able to watch over costs as closely as they would like. One way to help address this is to cultivate fiscal discipline as a core company value. The choices you make as the owner of a financial advisory firm will infiltrate the culture of your company. Sure, you can take clients to a fancy restaurant or choose to travel first class on the company. But know these choices will set the tone for your culture as your team watches your example. Be smart with the choices you make and the actions you take.

Oasis can help you to create oversight, analytics and transparency with your T&E reporting. We have a relationship with Certify, a leading expense management provider, to help clients save time by streamlining their expense reporting processes, implementing proper controls, and gaining insights into top spending categories to identify opportunities for reducing future expenses. This helps to understand things like how many of your expenses are variable versus fixed, and how can you dial them up or down to suit your cashflow and business needs.

Our clients benefit from a simplified expense management solution that delivers automated reports, web-based approvals, seamless data integration and increased analytical reporting.

Talk to Oasis, A Paychex Company to learn more. Visit www.OasisAdvantage.com/Financial-Advisors or call 866-709-9401, for a no-obligation consultation on how we can help you to create better oversight and transparency into T&E spending as you continue to grow your business.

 

Professional employer organization (PEO) services are sold and provided by Oasis Outsourcing, Inc. (Oasis) and its affiliates, which are registered and licensed to sell and provide PEO services, including in Florida. Oasis FL license numbers are Oasis Outsourcing, Inc., GL42; Oasis Outsourcing Admin Group, Inc., GL237; Oasis Outsourcing V, Inc., GL54; Aureon HR, Inc., GL156; Staff One, Inc., EL194; Staff One of Oklahoma, LLC, EL456

 

 

 

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