“Most employees just want an easier way to submit their expense report and find out when they will be reimbursed,” Calvin Harris Jr., CPA, Founder and CEO, Harvin Consulting LLC said in a recent CFO webcast.
In order for the CFO to take on strategic initiatives, they have to make sure tactical things, such as expense management, are handled with few hiccups. “The T&E process is an indicator of the finance team’s effectiveness,” Harris noted.
In a live poll during the webcast, a majority of attendees agreed that there is room for improvement in the process. But the good news is that a majority (82%) of webcast attendees said that their organization’s CFO takes an active role in establishing policies and implementing processes for managing T&E.