Staff payment management is a process ideally automated by software that streamlines your organisation’s monetary transactions. It tracks outbound and inbound transactions, allows managers to approve payment requests from staff and third parties, and requires authorisation so no payment goes unapproved.
If an employee purchases a laptop for business purposes, they will request compensation from their employer. If a supplier or manufacturer requires compensation for services rendered, they will need to request payment from the business. All of these requests need managing.