Why Expense Compliance is Important ?
While the pursuit of corporate growth has always been a driving force, the evolving dynamics in the market have shifted the focus beyond mere top-line growth, emphasizing the importance of managing expenses to secure positive EBITDA. In this environment, characterized by a balancing act between growth aspirations and fiscal prudence, organizations must meticulously manage their expenses.
While a majority of expenses typically fall within the purview of policy, it’s essential to acknowledge the small percentage that may deviate from compliance. Whether accidental or inadvertent, these deviations underscore the need for a comprehensive understanding of expense compliance. By shedding light on the entirety of the financial landscape, we aim to foster an environment that not only acknowledges the inadvertent outliers but also reinforces a culture of compliance within the organization.
Let’s unravel the layers of expense compliance, shedding light on its significance and the essential elements that contribute to a robust financial framework within organizations.
NQOODLET and SimpliFi Join forces to transform SME spend management across MENA
The Riyadh-based and “Visa Direct Award 2022” winner NQOODLET joins forces with Dubai-based SimpliFi to bring to market a modern and innovative expense management solution for SMEs in the region.
The partnership aims at providing a seamless card issuance experience for NQOODLET users which makes spending and tracking of company expenses a fully automated process. NQOODLET will enable highly configurable virtual and physical prepaid cards using SimpliFi’s modern card issuing APIs which powers card programs in ways that meet a wide range of business needs.
Time Saving: The Ignored Goal
In the ever-dynamic realm of business, where constant innovation and adaptation are the norm, time stands as an invaluable currency. It’s the fuel that drives productivity, the lubricant that smooths operations, and the key that unlocks opportunities. While businesses often focus on maximizing revenue and acquiring market share, the significance of time saving often goes unnoticed.
Yet, time saving is not merely about streamlining processes or optimizing workflows; it’s a strategic imperative that underpins sustainable success. By embracing time-saving practices, businesses can unleash a cascade of benefits that elevate their performance and position them for long-term growth.
5 Practices to Adopt for Business Travel in 2024
Business travel plays a crucial role in fostering relationships, closing deals, and expanding market reach. However, managing business travel effectively can be a daunting task, as it involves juggling multiple stakeholders, ensuring compliance with policies, and maintaining efficiency amidst various challenges. As a business expense, it remains on top of the list of expenses European companies incurred in the H1 2023. Therefore, it is an expense not to toy with.