What is Employee Expense Management ?
‘Employee Expense Management’ refers to the practice of managing the expenses incurred by the employees in performing duties for the company. It covers the process of processing, paying as well as auditing the expenses submitted by the employees.
The employees might even provide their expenses for non-company related expenses if it comes under their benefits package. For example, some companies provide travel and entertainment as a part of their benefits package and if the employee can submit the required proofs, they would be reimbursed accordingly.
For the smooth functioning of this system, companies generally have several regulations related to employee expenses. The expense management system will use these regulations to disburse payment.