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The biggest cause of concern for almost every organization today is an ever increasing expense. The top five line item spends include Telecom, Utility and Travel, whereas only a few organizations are aware of their specific product expenditure and suppliers involved. Expense management thus has reached a level where organizations consider it a crucial component to bolster their bottom line growth, improve supplier and customer relationships, and compete in the global market.
AberdeenGroup states that "41% of organizations perceive Expense Management as a function that is just as critical as other internal departments"
Expense management and analysis provide foundation for organizations seeking to make better and more informed decisions, with significant cost and operational benefits.