Expense management is the key to successfully managing and mobilizing workforces. In fact, it can be the determining factor for any business trying to stay afloat in this challenging, ever-changing business climate.

Increased flexibility for greater client and employee satisfaction is also crucial for a successful business. With the new digital age, people simply want to access information on the go.

Processing Costs and Sharing Information

Employees no longer have the time to search for information via traditional desktops and conventional laptops. This is especially true in the business world, which continues to enhance, streamline, and centralize information sharing for new and existing employees. In the rush to establish better mobility for workforces, however, many organizations continue to overlook the need to effectively manage cost processes.

Managing Mobile Workforces

Some companies have ceased providing employees with corporate-owned devices. Instead, employees and staff have to utilize personal mobile, wireless, remote, and digital devices for work-related purposes. If this trend continues, it’s sure to bring additional hurdles and obstacles when it comes to managing costs and processes.

Bring Your Own Device Programs

One study recently looked at the costs associated with Bring Your Own Device (BYOD) programs. The following stats and findings were based on 600 workers that opted to utilize their own devices at an IT firm:

• The company was $300,000 over their fiscal budget and saw expenses growing at alarming rates.
• Through detailed analysis and assessment, the company found extensive abuse via staff and employees resulting in greater out-of-pocket costs.
• Employees also used their own devices for personal reasons, while utilizing the company’s Wi-Fi networks and virtual environments.

Based on these findings, it’s important to create BYOD guidelines to effectively manage mobile workforces.

• Create data limits and voice policies, and clearly define who pays for what.
• Set strict guidelines and regulations on which mobile apps can be downloaded and accessed on devices—especially when it relates to daily work and business errands.
• Adapting an expense management solution is also pivotal in ensuring costs stay at optimal and manageable levels.

In addition to setting strict guidelines, the following strategies can also help.

Corporate Fleet Expense Management

Businesses should keep a keen eye on all bills and related financial documents. This includes precise and concise reviews to ensure all appropriate bolts and tariffs are firmly in place. This helps highlight which employees are utilizing too much of the allotted allowance, while determining how many employees should receive corporate-funded devices. Corporate fleet expense management also determines which staff members are better off with BYOD schemes.

Business App and Central Messaging Approval

Organizations must also employ white and black lists when it comes to business apps and programs. This is to ensure that only work-related software is being utilized on devices during business hours. App and central messaging approval prevent staff and employees from downloading costly and unsecured programs for personal use. While different staff members will have different work-related priorities, businesses can still remain constant in which software and non-relevant programs are authorized.

Restrictions and guidelines must be strictly adhered in order to foster greater growth and expansion. As with all business-related Wi-Fi and networks, optimal security measures must also be implemented and utilized to prevent foreign intrusion and establish controlled access to corporate data across the board.

Expense Management Is Simply Crucial

From mobilizing workforces to staying out of the red, expense management is pivotal in fostering greater growth and expansion. Businesses can also avoid extensive out-of-pocket expenses, while ensuring their employees are equipped with the latest technologies for better capacity and workflow.