Setting the strategy After a careful evaluation of its expense reporting process, Raymond James realized that significant improvements could be made to gain productivity savings as well as comply with company travel and entertainment (T&E) policies and changing auditing rules. Facts gathered during the evaluation were that its corporate T&E policies were inconsistent, varying by division. Also, multiple approval levels were required, hotel contracts were negotiated by property instead of chain, and travelers and managers were both unaware of the limits. In addition, item entries as well as routing and management approvals were performed manually. The company realized it needed to control the cost of T&E operations and administration, enforce compliance with T&E policies, eliminate errors i

Join for free to read