Inflation hasn’t been this high in decades, and you may be wondering how it’ll affect company benefit costs. You’re not alone. In a recent Mercer survey, most CFOs (68%) said controlling employee health benefit costs is a significant/very significant concern. Among the factors that could potentially drive overall healthcare costs up: higher utilization due to […]
With the Great Resignation impacting hiring and retention across the board, your company may be investing more money in talent acquisition right now. And you definitely don’t want any of those dollars wasted. Top pain points Right now, the field is more competitive than ever, and many of your peers are spending more money on […]
Quick: What would you say is the biggest threat that could derail your business in the coming months? Unfortunately there are no shortage of them – if you ask your fellow finance pros. The Association for Financial Professionals’ (AFP) 2021 Risk Survey identifies just where the greatest exposures lie. And not just in the short […]
Expense reports may have decreased for some companies during COVID. But in many cases, expense reimbursement requests are back on the rise. Your A/P team should keep its eyes peeled and expect more mistakes as more employees submit expense reports. Here’s why: Expense policy compliance is much lower right now across the board for companies. […]
Due to the rise in remote work, a new trend for employees is the “workcation.” And it may need to be addressed in your company’s T&E policy. It typically hasn’t been all that uncommon for employees to add a few extra vacation days onto a business trip to decompress and explore a new city. But […]
Correcting mistakes and preventing misunderstandings from employees concerning your T&E policies is not only time-consuming for your A/P team, but it can hurt the company’s bottom line if expenses are consistently reimbursed incorrectly. With that in mind, it’s important to work closely with A/P to make sure employees understand your reimbursement policies and aren’t regularly […]
From Zoom to Microsoft 365, software as a service (SaaS) apps are essential to your firm. But many companies overspend on SaaS due to platform redundancies, overlooked auto-renews and missed opportunities to re-negotiate subscription/license terms. Getting more SaaS value According to Murali Saravu, founder of pricing and billing automation provider Monetize360, more and more of […]
Heads up: IRS has announced the new standard business mileage rate for 2022, and just as expected, it’s increased. So it’ll cost your company more to reimburse employees’ vehicle travel this coming year. Here’s what you and your A/P pros need to know. Detailed mileage rate info The business mileage rate was expected to go […]
While business travel rates should continue to increase in 2022, many employees aren’t comfortable with taking planes to destinations just yet. That means car travel will be popular this coming year. In fact, 62% of business travelers said they’d be taking trips in their personal vehicles in 2022. This is according to the quarterly State […]
