Why expense management is particularly tough for higher education

… and how to get it right

The challenges

Higher education institutions share many of the same attributes as medium to large commercial organizations, including:

  • sizeable numbers of employees—a significant number of whom travel both domestically and internationally;
  • teams that are often geographically dispersed;
  • and closely controlled budgets.

However, unlike commercial organizations, higher education institutions’ travel and expenses are often funded by grants and scholarships, which can have a variety of different reporting regulations.

As a result, higher education institutions’ expense reporting processes can be more complex than those for similarly-sized companies, requiring specialized solutions to ensure compliance with grant regulations. Not to mention the numerous state regulations with which public institutions must comply.

Download this eBook to get best practices for efficiency and compliance.

You’ll find:

  • Operational best practices: How to establish a solid foundation of processes and policies aligned to your institution’s specific needs, as well as an easy to use entry and approval system.
  • Recommended capabilities: From mobile to analytics and auditing to support for complex business rules.
  • Advanced recommendations: Everything from providing guidance for users on appropriate use of funds to allowing division of expenses between multiple grants or cost centers to group travel management.

Tried-and-tested best practices and a robust, powerful expense management solution are critical for colleges, universities and other higher education and research institutions, in order to maintain cost control, minimize unnecessary administration, and ensure compliance with grants.

Download this eBook now for all the guidance you need to build a better expense management practice.

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