Finding The Right Expense Management Solution For Your Company

In recent times, initiatives such as the Sarbannes Oxley Act in the US have dramatically raised the profile of compliance within the corporate world. As a key element of any corporate compliance policy, expense management has shared some of the limelight. As a result, an Expense Management Solution (EMS) is now critical to any business concerned with corporate compliance. But what is an Expense Management Solution (EMS)? Does your company need one? And where do you find a good one? Just as importantly, how do you successfully implement and integrate an Expense Management Solution (EMS) into your corporate environment. This article sheds some light on these issues.

What is an Expense Management Solution (EMS)?

The term expense management solution has been used to describe quite different commercial products and services. In the context of this article, an expense management solution is defined as a technology based system that processes:

(i) transaction records received from a credit card issuer (detailing employee use of corporate credit cards0; and

(ii) cash reimbursement claims originated by an employee.

In practice the target application is Travel and Entertainment expenditure. A robust Expense Management Solution (EMS) will also support procurement (pCard) activities as part of a broader strategy of effectively managing lower value, high volume business-to-business transactions.

The three core steps of any expense management process are:

1. the acceptance/input of validated source data;
2. the application of predetermined rules of handling expense records; and
3. the posting of transactions to a corporate repository such as an ERP system.

What is the purpose of an Expense Management Solution (EMS)?

The objectives of an expense management solution implementation should include the following:

1. to automate the preparation, submission, approval, and auditing of travel & entertainment claims, thus improving the productivity of account holders and reducing the time and cost of accounts staff;

2. to support the implementation of a standardized best practice method of managing high volume expenses through the use of corporate credit cards; and

3. to increase the transparency and enhance the governance of financial transactions conducted on behalf of the enterprise.

Sources of Expense Management Solutions

Australian and international organizations now have access to a range of quality expense management solutions which are well suited to driving down administration cost whilst meeting corporate compliance requirements. There are essentially three sources of expense management solutions:

1. ERP systems;
2. systems offered by card issuers; and
3. best-of-breed solutions.

Each will have their own merits and will suit organizations in different circumstances.

Enterprise Resource Planning (ERP) Systems

ERP sourced expense management has the attraction of being fully integrated within the financial suite of software, therefore offering a standard look and feel to all users of the ERP. With ERP sourced expense management functionality, the ERP supplies the core software, and the enterprise needs to customize and configure the system to reflect its own structures and rules regarding the management of staff expenses. If you’re considering the option of using their ERP for expense management, you need to be conscious of a number of factors, including:

the actual functionality available within their specific installed ERP system;
the backlog of work on the ERP system accumulated for the IT department; and
the deployment time and the cost of the project (which will usually be substantial).
License costs can be an issue if an enterprise if your company has not paid a license fee that will cover all card account holders and cash claimants.

Card Issuer Systems

Some card issuers promote expense management solutions which can range from a computer generated report through to an online system with some embedded workflow concepts. The attraction of card issuer expense management solutions is that they are offered as part of a card deal, sometimes (apparently) for free. If you’re considering a card issuer expense management solution, you need to know:

will you be ‘locked in’ to the card issuer?; and
will you be able to configure the expense management solution to adequately reflect internal requirements?

Best-of-Breed Solutions

Best-of-breed expense management solutions from specialist providers can be relatively seamlessly interfaced to an organization’s internal systems such as HR and ERP, but will not present a common look and feel to the ERP system. You would usually choose a best-of-breed expense management solution if you want:

1. your company to be independent of a particular card issuer;
2. to achieve a fast implementation; and/or
3. to configure the solution to its own unique rules and policies of expense administration.

Best-of-breed expense management solutions are typically deployed as either an ASP (Application Service Provider) or self hosted solution. Although exceptions are common, small to medium enterprises tend to appreciate the lower up-front cost of an ASP expense management solution, and larger enterprises are attracted to the control available through a self-hosted expense management solution. ASP expense management solutions are typically paid for on a per statement per month basis, and self-hosted expense management solutions have a range of options available from up-front license fees to monthly license rentals.

Overcoming the Cultural Resistance to Expense Management Solutions

Some Finance Directors still have an aversion to corporate credit cards. It’s not uncommon to hear a finance director say if I give everyone a card, they’ll spend us broke!

However, the benefits of an Expense Management Solution are apparent as soon as the Finance Director considers the difficulties of controlling the expenditure behavior of thousands of employees using a manual system of reimbursements which is largely based around a set of uncoordinated spreadsheets. Basic activities such as enforcing travel policies, calculating tax implications, reconciling, posting to a chart of accounts at a detailed level and auditing, are so difficult as to be more honored in the breach than the observance…

Viewed from a different perspective, a company with revenues of $700m $50m in EBITDA, and $20m in annual employee business expenses, can make a dramatic impact on its bottom line using an expense management solution without increasing revenue. If automation reduces these expenses by only five per cent in the first year, the savings alone have the same impact on the bottom line as $14m in new revenue. It isnt surprising that the return on investment of an expense management project is often achieved within its first 12 months of operation.

Expense Management Solutions also play a vital role in Fraud Control. Fraud in this context takes many guises, not all of which are the sort that land perpetrators in court. Information taken from our own customer experience and from publications of the USA Association of Certified Fraud Examiners identify the top four categories of fraud:

1. Mischaracterized expenses
2. Overstated (exaggerated) payments
3. Fictitious expenses
4. Multiple reimbursements

Research in the USA has pointed to as much as 1% of company revenues being lost to employee expense mismanagement. Expense Management Systems will not, in their own right, eliminate this but they are a vital tool in creating an environment that drives down the level of mismanagement.

Conclusion

Over the past 18 months, our company has observed a change in motivation for expense management projects. Whereas formerly expense management solutions were an exercise solely in the reduction of administration costs, now governance is equally a driver to implement technology based controls around high volume expenditure. The Sarbannes Oxley (SOX) act in the USA has captured the attention of any enterprise active in the USA. However, inside or outside the USA, the senior executives must warrant that their company has implemented adequate financial controls that prevent fraud and give a true and correct record of the enterprises financial activities. As a result, the Corporate Travel Manager who pitches a proposal on expense management to the senior executive team currently finds a willing audience.

Best Appraisal Management Companies To Work For

What are the best appraisal management companies to work for? The obvious answer would be the ones that bring in work. But its not quite that simple, is it? Other factors would be whether or not the appraisal management companies are giving consistent work, if they are ethical and if they are paying you a fair cut.

Appraisal management companies, in general, have been stereo-typed as unethical and greedy. And while I can agree with this on some levels, as I am an appraiser myself, there has been a shift in the reliability and effectiveness of some of the older AMC’s and a definite change in the newer companies that are popping up all over the nation.

As appraisers have expressed their unhappiness and frustration at the big appraisal management companies, many of the the smaller companies have begun to change their policies. They are working toward getting qualified appraisers in the local market area to perform the appraisal, they are taking smaller commissions, they are not demanding 24 hour turn times, and they are giving consistent work to those appraisers that turn in quality reports.

So, how do you know which appraisal management companies are the best?

Unfortunately, they can be difficult to find. Talking to other appraisers is a great way to find out if they are reputable. Going to forums and discussing the appraisal management companies you are interested in. Appraisers are a wealth of information, but don’t discount an AMC just because you hear one bad account. More than likely, you will need to sign up with them yourself and see how you are personally treated. I have heard many stories of how an appraisal management company treated one person well and another person badly.

One bit of advice…be careful with some forums. Some are great and some are just a place where they can spout out all their woes about appraisal manangent companies. While I agree with a lot of what they say, they are not looking for solutions, they are looking for a place to vent. There are still thousands of appraisers who enjoy what they do for a living and are willing to share information.

A new shift that has recently started is the employment of appraisers by the largest AMCs. They have discovered that if they employ the appraisers that work for them, they can pay them a lot less money and, in return, they give the appraiser consistent work. The upside to this arrangement is that as an appraiser, you will always be kept busy. The downside is that most of these companies are paying only about $14 per hour. That comes out to less than $2500 per month, and it is the AMC that dictates how much time each appraisal should take.

This practice may change in the near future, just like everything else, so keep your ears open and keep up to date on current events.

Role Of Exercise In Stress Management

There is a great deal of ignorance about exercise being the most effective approach to stress management. It is a cost free approach and the time required every day is also not much.

Nobody can escape stress in today’s world. This is because many factors work, family, society, and relationshipscontribute to stress for an individual. Stress has become an unavoidable part of our day to day life.

For some people, that can be good because it gives them adrenaline rush. A bout of stress without notice can help them do things on our own terms, complete tasks ahead of time and achieve their goals within the given deadline. At times, stress even helps them to perform better and have a competitive but positive outlook in life.

But, everybody is not blessed with the ability to turn stress into a positive force. On the contrary, for a majority of people stress leads to many health problems. Peopleespecially those who getting so much stress on the workplacesuffer from minor health problems such as insomnia or sleep disturbances, headaches and upset stomach. These eventually lead to difficulties in concentration in things, mood swings and irritability, low self-esteem and moral, and poor socialization with immediate family and friends.

If such a stress is not not managed properly, can lead to chronic health problems and conditions such as various cardiovascular diseases, several musculoskeletal conditions, and different levels of psychological disorders. In order to prevent such diseases people should be thinking of ways to manage stress and live a healthy life.

exercise helps

* Enhance the blood flow. Blood flow to the brain is necessary for our thought process to perform properly. Exercise helps ensure supply of more sugar and oxygen to your brain, causing you to think effectively.

* Release endorphins. The chemical called endorphins are responsible for giving a person a feeling of happiness and positive outlook in life. Despite all the stress brought by your surroundings, you can manage it as long as you have enough release of endorphins.

* Have a fit body. A feeing of being healthy and in shape help many people manage stress. This is because if a person feels he or she is beautiful, that person can take on anything thinking that no matter what happens.

* Strengthens one of the most important of the body, the heart. Stress is known to affect heart in a big way. So, to save the heart from any diseases and conditions brought by stress, exercise is a must to ensure that you will maintain a heart that has greater elasticity to pump out enough blood and oxygen to the body.

Sure enough, exercise helps manage stress with telling effect. But before engaging into it, you must ensure that you are fit enough to endure strenuous work outs. One way to know about your fitness is to get a check up done from your medical advisor.

Fleet Management System Drives Your Fleet Positively

For any transportation company it is highly necessary to constantly monitor its transportation fleet. Negligence may lead to increase in transportation costs including fuel consumption, vehicle maintenance, and delivery delays. Installing a good fleet management system can help you eradicate such losses and drive your transportation business positively. Fleet management software easily keeps track of, manages, and maintains your transportation fleet. Fleet management is a combination of powerful technologies like the GPS (Global Positioning System), two-way wireless communications, an on-board processing, communications unit, and a hosted web application that demonstrates mapping and vehicle telematics data to the end user. The GPS tracking system helps the transportation companies in locating their vehicles and monitoring their speed and direction.

When companies try to install such fleet management software in limited budgets they tend to incorporate just specific features and functionalities of it. In fact the transportation companies should not hesitate in spending some extra money over getting a comprehensive solution as in the longer run this fleet management system will benefit them by saving a lot of transportation and vehicle maintenance costs hence increasing profitability multiple times. Overall the initial installation costs are always negated by superb cost savings through using a vehicle tracking system.

Some of the impactful advantages of a Fleet Management System are:

Reduces Transportation Costs
The fleet managers at the transportation company can track and report real time data on fuel consumption, route efficiency, vehicle diagnostics, and even driver’s performance and driving habits. As the fleet managers can analyze and calculate cost effective transport routes the delivery time is reduced and moreover since the drivers are constantly under managers vigilance they drive more responsibly without taking unnecessary breaks. The initial investment may be expensive but on the longer run the fleet management system saves a lot of transportation costs by analyzing and reporting real time transportation data.

Fleet Vehicle Maintenance
The fleet tracking system also keeps a track of the physical conditions of the fleet vehicles. The fleet maintenance system helps in scheduling maintenance services and jobs for each vehicle and prevents wear and tear of the vehicle. It takes care of Fleet registration, usage, fuel consumption, mileage and performance. Has the flexibility with booking engine to book trips and reschedule the trips if demand arises. The preventive maintenance and breakdowns are scheduled as per the due dates and on emergency respectively. All permutation and combinations of assignments of fleets to the drives and Shifts are handled leading to optimum utilization of Fleets Performance.

Reduces environment pollution
The green environment laws have made it mandatory for the companies to check on their emissions and carbon footprint. The fleet management system helps in controlling the fuel consumption and hence reducing the emissions from the exhaust pipes of the fleet vehicles. Shorter routes and smarter driving skills add to in controlling the environmental pollution. A proper vehicle tracking system provides specific features and functions to help in keeping the eco-system green.

In addition to the benefits mentioned above fleet management system also aides the transportation company in improving customer service, and hence increasing productivity and profitability. The fleet management software enhances driver safety with optimum resource protection and utilization. Reducing unnecessary transportation costs significantly the Fleet Management System helps to keep track of unexpected repairs, problems, and accurately determine the cost effectiveness of the transportation fleet.

The Power Of The Anger Management Kids.

Anger differs from other emotions in that it has a debilitating effect on our kid’s health. When angry, his little body displays physiological changes like sweating, picking up a faster heart beat and also a raise in temperature. When your child’s body is not in good physical condition, anger is likely to burden his heart and drive up his blood pressure. And just like anger management for adults teach that people with heart diseases should not get angry, the same is true for anger management for kids.

For anger management kids ruling anger is difficult. A fact is that many of the younger kids still do not even know all together what their emotions. This means that in their case, making anger management tools work would call for a lot of discipline and training. You can look for strategies and methods to help him to contain his anger, but key is finding the strategies that he is comfortable with.

If you estimate your child can control his anger by himself, without the assistance of anger management professionals, then you can go ahead and teach him anger management kids techniques. You want him to practice that when he starts to get angry, he takes deep breaths. This is his first lesson. Deep breathing will slow down his raised heart rate and grab his attention from his anger, and put it someplace else.

Another effective method to use with a child is to get him to count until his heated anger is gone. When he does this exercise it is going to help him focus on things besides anger.

If his anger is uncontrollable and damaging his relationships, it is up to you to enroll him in more intense anger management for kids activities. It may be that he needs the skills of a professional to help him. For information purposes, the most qualified professionals to help with childhood anger is a psychiatrist. As a part of his instructions he will probably have your child undergo psychotherapy. This is will be done using activities that are interesting to children. As a last resort, if there are prescription drugs or medicines that can help child, he will alert you to this. But be careful, prescription drugs are sometimes addictive. The therapist would look at your child psychiatrically and try to unwind the reasons why your child is angry and help him to confront the issues.

Along with psychotherapy, adults can also use hypnotherapy to regulate their anger. However in anger management for kids hypnotherapy is something for you to try to avoid. Hypnotherapy will cost less than than psychotherapy, but the potential dangers are higher. It could turn out to be a dangerous thing for him. In my opinion even for adults bothering with the subconscious mind in hypnotherapy is always a dangerous thing that should not be bothered with.

For children, controlling anger is critical. If he does not learn to do it he will grow into a social deviant. If not repaired with anger management for kids, you can expect that as his body gets stronger, so will his emotional reactions to the things that bother him.

As for you though, if you want your child to be expressing his anger properly in less than 48 hours, go to http://www.the-anger-management-store.com, I have more free videos there that tell you more about it.

Various kinds of Content Management Systems

A homegrown content management system refers to computer software developed by a single company for use in their business. This sort of CMS is developed precisely to meet the company’s specifications since they’re the only one utilizing the software.

An open source CMS is available to users free of charge. Aside from being readily available at no fee whatsoever, open source CMS are also customizable considering that the codes can be changed accordingly. Although support is available for open source CMS, it is not as reliable as the customer and technical support you should get from a commercial CMS.

Simply, you’ll find 4 primary types of content management systems. These are the homegrown, commercial, open source, and high-end CMS.

High-end CMS are highly stable. High-end content management systems present good features but only few can manage to pay for such software as it can be incredibly expensive.

Choosing a particular type of content management system is extremely centered around the specifications of the organization as well as on the demands of the users.In the event the corporation prefers a custom CMS, then a homegrown CMS or an open source CMS are your top choices. A high-end CMS can also be a superb choice when you have no objection to the substantial cost of such software program. If your organization isn’t going to care about customization, then a commercial CMS would best fit your specifications.

A commercial CMS is the most prevalent sort of content management software. There are a variety of features depending on the creator of the CMS and it can’t be personalized.

Content management systems or CMS are valuable tools in managing and arranging website content. Because of the rise in demand for this sort of software, you will find now thousands of various content management systems on the web. Each CMS has distinct functions and caters to numerous types as well as sizes of corporations.

Guidelines For Hotel Management

Hotel management college in Punjab provides a graduation degree for that student who wants to develop their career in Hotel industry. After getting degree in hotel management one can get placed in various hotels. There are many hotels .The top most and famous hotel called five stars are Taj, Oberoi , Welcome group, International hotels are Hyatt, Sheraton etc. There are different department in hotel management .According to interest and skill required one can get a job of Front Office, Housekeeping and Beverage Services and Food Production.
The initial salary of a student can be 15k and if someone joined as a management trainee, the salary should be 20-25k.once the training has been done they can join as manager level. For the manager, salary package is very good. Initially, at the entry level, when anyone start their career in hotel management the salary offered is not so good, but after some 1 or 2 year ,on the basis of experience ,they become promoted to high level and then the monthly salary will be very good. Initially student start with management trainee after that promoted as assistant manager and then restaurant manager. In the top restaurant like KFC, Mcdonalds and Pizza hut etc, they provide basic package of salary for the freshers and also provide handsome salary package after promotion .After graduation, student join hotel management as a management training, after complete their training,they become assistant manager and after 2 and half year of experience they got the position of restaurant manager. Then the salary will be around 35-40k with incentives.
The students of hotel management also have options of Airline Industry, Retail Sector, Teaching, and Entrepreneur.
Airline Industry: The students of hotel management also have a option of airline industry. They can be air hostess and flight stewards. They can be selected as a ground staff or as public relationship officers with handsome salary package. The other option is cruise line in which salary offered is very high, approximately 70k initially.
Retail Sector: There is wide range of jobs in retail sector. It includes PVR, Malls, back office jobs, BPO industry, hospitals etc.
Teaching: There are so many colleges for hotel management .One can start with assistant lecturer and after 1 and 2 years of experience he/she becomes a lecturer.
Entrepreneur: Other option is open their own restaurant.
There are many colleges in Punjab for hotel management. Rayat Bahra Institute of Hotel Management is one of them. Many of the restaurant placements are provided in hotel management colleges. Student has many options after completed their hotel management degree and can earn up to their exceptions. Hotel management has a wide range of fields.

On Choosing an Open Source Digital Asset Management System

When I first blogged on open source digital asset management three years ago, it was a fairly new concept. The digital asset management product landscape was dominated by a few Enterprise-class vendors and a number of middle-tier workgroup solutions. Most case studies on open source digital asset management were for large non-profit university or library collections. Fast-forward to the present and we are starting to see case studies of open source digital asset management implementations for commercial organizations. There is also a growing community around open source digital asset management and a number of product options (14 at last count) in various stages of maturity. As more companies and organizations start to seriously consider open source as an option for digital asset management, it is important to outline a few key factors that should be considered when researching or choosing a system. 1.Core Digital Asset Management Features Prior to selecting or implementing a digital asset management solution, you should first determine what are the critical features that a system must support to meet the needs of your organization or company. Do you need the capability to manage and convert Camera RAW images? Do you need video transcoding and scene detection capabilities? Do you need self-service capabilities or extensive access control capabilities? Defining these critical needs prior to doing any research or viewing any demos will help to keep your selection process focused.

2.Availability of an Online Demo Open source vendors are not represented in Real Story Group’s Digital Asset Evaluation report, so it can be difficult to track down information on specific features. However, unlike proprietary ‘closed-source’ digital asset management products, which can be a hassle to get a try-before-you-buy license for, open source digital asset management systems are there for the testing. Therefore, it is important that you take advantage of that open-ness and test the products that are finalists in your comparative feature analysis. While this might be somewhat time-consuming, most companies that have been burned by spending a small fortune on a closed-source system would attest that product testing, ideally against a demo script that is baselined against your functional requirements, is a smart use of your time. To make testing easier for you, most open source digital asset management solutions have some form of Online Demo available either as an anonymous guest or as a registered user. Once you get your finalist list down to one or two choices, it still makes sense to install the product in your local environment for deeper testing of your use cases and particular integration needs.

3.Extensibility One open source perk is that with a smaller investment on licensing fees, a larger investment can be made on integrating the digital asset management solution with other content technology systems. In researching solutions, check to see if an open API is available. Does the system support RSS or Rest Services? Has the vendor or others in the community already integrated the system with other solutions?

Anger Management Activities

If you don’t know what you should do, dealing with anger and its results is likely to be a losing endeavor. Because they don’t know how to handle stress, many people lash out with fits of rage and anger. Just about everybody, except young children perhaps, easily recognize that they are having a issue with anger that is not under control. Although there are a lot of anger management activities around they are just uneducated regarding these activities and techniques.

When living everyday with angry feelings, there are a lot of anger management activities people use and get involved in. To help, exercise is one activity that is urged. Exercise has been tested to have an uplifting effect on human moods. Exercise also helps you get rid of negative feelings. Good anger management activity could be as simple yet profound as taking a walk or jog. Working out with weights or playing a favorite sport. These all work well as anger management activities. Going hiking or spending a few hours out in nature will also help you to clear your head and release tension. An outdoor anger management activity creates a helpful environment.

Anger management activities like a support group; retreat or camp helps people to deal with their anger. One good thing about participating in anger management activities is you would be able to see firsthand that your situation is not unique. You will see that it is shared by a lot of other people. Sharing with people in with the same situations is one of the keys to anger management for many. Sharing with others has the reputation of providing angry people with help as they listen to success stories. In anger management activities like these, people are dealing efficiently with their anger issues through various group sessions, activities, and one on one consultation.

Anger management activities should be used with children who have anger problems. Children are not going to respond properly to group sessions and will eventually become bored with one on one meetings. Having activities that are fun to a child is a better alternative because children enjoy fun and games. Doing anger management activities that are beneficial and enjoyable is so much more effective than having children sit with anger management counselors. Interactive games and other activities like coloring pages, worksheets, and individual games are more accepted by children than trips to the psychiatrist. When it involves children, it is important to understand and approach the problem skilfully. Being overbearing is not going to go over good with children. When considering anger management activities for kids, remember that an interesting approach is important because after all they are only children.

When considering anger management activities, you should choose activities that are enjoyable and helpful to you. The reason is because if you do not like the program you will not keep working at it. Your key focus should be on finding effective activities that you like.

As for you though, if you want to be expressing your anger properly in less than 48 hours, go to http://www.the-anger-management-store.com, I have free videos there that tell you more about it.

Anger Management Techniques Treat Depression to Treat Anger

How is this for a head turner – the best anger management technique for some people may be to treat them for depression.

Depression, goes the old saying, is anger turned inward. In my experience, its just the opposite – anger is depression turned outward.

Where am I coming from? Well, everyday life for people who are depressed is experienced as being much more stressful than for people who are not depressed. When you get stressed out, adrenaline and cortisol, which are the hormones which prime you for flight or fight, are released. Your brain looks at this release of these hormones and literally thinks “if these hormones are there, danger must be afoot” and starts to look for it. Now, remember anger, while an emotion, is functionally a protective response to a perceived hurt or threat.

So, here you are, depressed, your body feels stressed by everyday life, your brain looks for danger and along comes one of those little bumps in the road that we all have every day. What happens? The stress level becomes too much and your brain thinks there is a real danger and you get angry.

There are some studies which have indicated that roughly 40 – 60% of people who are depressed appear to struggle with anger management. These people may oftentimes seem chronically crabby or edgy because life is experienced as so stressful. The sad part is that, since the anger management problem is not recognized for what it is, these people are often shunned which makes them feel worse about themselves, more depressed and more crabby. Its a self perpetuating cycle.

As I’ve written about before – anger management problems are often misinterpreted as a character flaw or as the problem itself when in reality the anger management problem is a symptom of something else.

So, if there is someone you know who is perpetually crabby, try to help them evaluated for depression. It may be the best anger management technique you can show them.