When you think of business expenses, you probably default to the traditional stand-bys – dinners, hotel rooms, airfare, conference fees, parking, and other similar charges. These types of purchases most often represent the average expenses incurred by employees.
But expense management has evolved, and with it, opportunities to capture and report on all spend. This means creating a more expansive, real-time picture of spend and company expenses like software subscriptions, paid online ads, website hosting services, utilities, and more.
Expense management is one small part of a bigger discipline: spend management. And if you’re only working with typical expenses, you’re missing opportunities for your firm and your clients.