Īdded benefits such as automatic fraud detection, Quickbooks compatibility, and even a rewards program proved to Dr. Watch and learn how to improve your cash flow with better expense management here. Dana Lambert decided to do a little research to find the right tool to address these challenges. Operating without answers to these questions worked for a while. Insights lost: What other questions would the company’s leaders be asking if they had the visibility to notice anomalies or early-stage trends?. Opportunities missed: Where could the group cut costs to reroute funds to more pressing needs or growth possibilities?.Possible inefficiencies: Would GlobalEd’s employees be able to do more (with less money) if they were empowered, entrusted, and equipped to be creative?.Reactive pivots: How do other companies forecast ahead of time to see how the current month shaped up? Why did GlobalEd’s leaders have to wait for all transactions to be reconciled and reviewed?.Accuracy doubts: Could a snapshot of the current financial data be trusted?.Security risks: Was the process vulnerable to outside threats?.Hidden pitfalls: Were employees making mistakes that leaders couldn’t address for lack of visibility?.Compliance concerns: Was government and grant funding allocated equitably across their state programs?.This symptom pointed to a root problem: a mistrust in their own data accuracy. They found themselves putting stakeholders and customers on hold to verify that their financial statements and reports were reliable before steering the ship. To muddy matters, the company’s executives couldn’t make informed real-time decisions. In many traditional businesses today, just two or three people have access to that level of funding. “It’s really about giving everybody in the organization access to funding quicker and having them manage their own budget. “We call our philosophy empowerment,” says GlobalEd founder Ken Crowell. The company needed to empower employees with the autonomy, decision-making authority, automated administration, and corporate resources to be effective without constant executive input. In 2018, GlobalEd’s leaders needed to reduce their manual oversight of employee spending. The challenge: reduce time managing employee spend
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