Making Expenses Less ExpensiveBy Joshua Weinberger | Posted 2003-04-01 Email Print
Companies are beginning to invest in software and services that can automate expense management and shave off a few dollars in the process.
The financial outlay--an average of $164,000 for the first year, says one of the studies--does daunt many companies. According to AMR analyst Monica Barron, however, some firms make back their initial investment in as few as six months. Research conducted by Aberdeen reveals similar results. But be aware that because the costs depend on the number of users while the benefits depend on the number of reports, it's possible for a company not to see a positive return. In these instances, focusing on such gains as better policy compliance or fewer errors may help support a business case.
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