Expense management for higher education
The challenges and solution for grants, athletic teams, and procurement.
- Higher ed institutions face unique challenges in expense management
- Best practices, clear policies, and mobile capabilities are essential
- The right technology can promote efficiency and compliance
Higher education institutions share many of the same attributes as medium to large commercial organizations, including sizeable numbers of employees, 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 expense reporting processes can be more complex than those for similarly-sized companies, requiring specialized solutions to ensure compliance with grant regulations—in addition to the numerous state regulations with which public institutions must comply.
In this e-book, 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