Despite implementing sophisticated financial management systems, many companies continue to process paper receipts and ask employees to submit expense reports in the form of spreadsheets. In addition to extending the timeframe for reimbursement, the use of paper receipts and individual spreadsheets to keep track of employees' expenses is costly, as well as vulnerable to deliberate fraud and inadvertent mistakes.
Further compounding companies' challenges with managing employees' expenses is that many employees now rely on a variety of apps to arrange both personal and business-related transportation and lodging. In this scenario, employers not only lack visibility into employees' expenses; they also place themselves at risk of noncompliance with regulations for accounting for these expenses.
During this Webcast, we will outline best practices finance leaders can establish to enable their companies to:
- Gain greater visibility into employees' work-related expenses,
- Use automation to improve the speed and accuracy with which employees document their expenses and employers review them, and
- Mitigate risks and reduce the likelihood of incurring costs as a result of errors, fraud, or noncompliance.
About the Panelists
Bryan DeGraw, Associate Principal, Finance Advisory Services, The Hackett Group
Bryan has more than 20 years of experience focused on core finance disciplines that include enterprise business planning, end-to-end business process creation, continuous improvement program management, cost reduction, cost management, and financial analysis. Working in corporate management and consulting, he has led projects and people while defining and transforming back-office finance and customer-facing business processes.
Calvin Harris Jr., CPA, Founder and Chief Executive Officer, Harvin Consulting LLC
Calvin Harris Jr., CPA, has more than 25 years of C-suite-level experience working with organizations as an on-call CFO and business management consultant. Since beginning his career with Arthur Andersen, he has served as the CFO of Baltimore City Community College, as well as the CFO of the nongovernmental organizations Aeras and The Council for Excellence in Government. He has also served as the controller with The United Nations Foundation, as well as the interim CFO and controller with NeighborWorks America.
About the Moderator
Joe Fleischer, Editorial Director, Finance Channel, Argyle Executive Forum
In his role as finance channel editorial director with Argyle Executive Forum, Joe Fleischer focuses on developing virtual events on topics that reflect the primary concerns and priorities of senior finance executives. He is based in New York.