Demystifying Global Expense Management (GEM) for Relocation
Managing relocation expenses can be complicated and stressful for a relocating employee. Over the course of travel to a new assignment away from home, employees will need to submit a considerable amount of expense reports, and that can be difficult for an assignee to self-fund, so having an efficient and seamless relocation expense management process is critical.
Expense management is any system you as a company implement for employee expense management, corporate cash management, and how you handle your employees' work trips and the expenses this causes.
If it is always necessary to know what the expenses are and what costs have been reimbursed, you as a company should be able to record, track, and send payments quickly and easily without waiting for employees to be in front of a computer.
Why is expense management important?
It's simple: without good expense management, your company risks suffering financial disorganization. This is much more harmful than it probably seems. You'll see massive losses if your employees don't record their expenses correctly due to a lack of guidance or structure.
With that dramatic picture etched in your mind, let's move on to discuss how you can avoid this and actively improve your business based solely on good expense management.
Want to simplify your expense management?
Whether you're a freelancer, a startup, a large enterprise, or a fast-growing SME, an expense management service is adaptable to your business.
Benefits
Cost Effective: Orion's proprietary software and systems keep costs down.
Accuracy: Of the 250K expense reports processed last year, Orion had 99.9% accuracy for policy compliance.
Granular Reporting: Customizable to meet any of your client’s needs.
For RMC
A singular and separate focus on expense processing and service delivery enables refined expertise and more detailed transparency on performance. Orion’s consolidated and detailed reporting enables granular insight into relocation expenditures.
Expenses are done right each and every time.
Expense management software is designed to simplify, automate, and generally manage these tasks. The platforms will aim to reduce the time spent on these tasks while enabling business growth and increased expenses and profits.
Your employees can record and submit their relocation expenses for processing and payment via mobile devices. This makes it simple, quick, and easy for refunds to be made daily and ensures no payments are lost or forgotten, helping employees relax and adapt to global locations.
What distinguishes our relocation expense management service and makes it the top choice?
We handle payment management and help lower overall spending costs.
Rest assured that the expenses comply with your company's policies.
The administrative burden on your HR and finance teams is reduced or eliminated altogether.
Ensure fast and accurate payment from suppliers and reimbursement from employees.
Employees can send expenses from their mobile devices.
Provide complete visibility of all relocation expenses.
For more information, click here and contact Orion today.