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Travel Expense Management: Trends and Predictions According to the American Express Global Business Travel Forecast 2018 , some regions of the United States, such as the Chicago and Charlotte metro areas, experienced upwards of five percent higher total business travel costs in 2018 compared to the year prior.
Once the invoices are digitized, they can be automatically matched to purchaseorders and routed for approval through an automated workflow. This also helps to ensure the accuracy of the data, as the software can validate that the invoice matches the purchaseorder or receipt and that all required fields are filled correctly.
That, plus other great financial automation and accounting features too to help you track expenses. 12) Hubdoc Acquired by Xero in 2018, Hubdoc‘s claim to fame is its invoice fetching capabilities. 14) Expensify Have employees that need expensereports generated? They produce their reports online for approval.
💡 According to a 2018 Goldman Sachs report , North American B2B businesses spend around $187 billion annually on AP processing, with labor alone accounting for over 90% of direct costs. Integrate a system that supports 3-way matching by using OCR to verify invoices against purchaseorders and delivery notes.
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