London, United Kingdom, April 17, 2013 --(PR.com
)-- Last year’s Accounting Reports revealed that Woodlake Commodity Solutions auxiliary’s total conference related expenditures averaged 4% of the Woodlake Commodity Solutions’ annual returns. Discussed during the recently concluded Finance Management Division (FMD) annual conference was the effective ways and means to manage and control business meeting expenditures. Woodlake Commodity Solutions Expense card includes the prevailing purchasing and payment features. This arrangement presents a compliant acquire-to-pay answer to assist divisions streamline the procedure to acquire, disburse, settle and account on conference-related costs. With the new Expense Card, each division is able to customize their spending practices while assisting them in lessening expenses, restructure operational and disbursement procedures and be able to render smart business choices.
"Using these Expense cards for corporate conferences expenditures allow the divisions to enhance the efficacy of their expense management procedures, obtain better control and discernability on their expense and eventually initiate augmented savings to the bottom line,” Mr. Tristan Klein, FMD Head. "With a more directed initiative of the FMD on planned meetings administration, Woodlake Commodity Solutions Expense card is the answer to the FMD’s goal of managing costs related to business conferences, seminars, exhibits, etc,” continued Tristan Klein.
The new system will enable divisions to conveniently consolidate in-house procedures for buying, records tracking, accounting of conference expenditures, and directing of logistical elements of planning conferences, exhibits, or meetings. This assimilation will allow divisions to closely monitor their expenditures for travel, purchases, and other expenses and ensure observance of company policies and procedures as well as identify the best vendors / suppliers for common needs.
The Expense Cards are connected to the FMD’s corporate expense databank. Important decision making data can be easily accessed such as transaction particulars from hotels, airlines, car rental agencies, and other suppliers. The system will be able to generate and allow extraction of specific reports, expense accounting tools, etc. A consolidation of expenses from the different divisions will be available for management for them to be able to gain a summative view of all payments, purchases, and disbursements related to conferences, meetings, exhibits, and the like.