Expense management

A. There are plenty of moving parts – and very likely fluctuating currencies – throughout an employee relocation. Very often, internal accounts payable departments do not have mobility expertise, potentially requiring an added layer of internal reviews and approvals by your mobility department that can slow your process down. If payments are not centralized, budgeting and reporting can be difficult or inaccurate. Outsourcing the process to an experienced relocation management company affords such benefits as:
– Time, administrative and cost savings through centralized storing of all assignee data in one system and reduced internal tasks for your own teams
– Peace of mind knowing your payments are made on time and in alignment with your policy
– Specialized expertise in relocation-related expenses, including the ability to make urgent payments quickly
– Automated recurring payment facility to ensure timely and accurate payments
– Full transparency through monthly and yearly spend reports for easy analysis, budgeting, and tax form preparation
– Reduced risk of payment duplication if there are insufficient levels of internal visibility, communication and auditing

A. Adherence to the strictest levels of data privacy protection and security is a must. We regularly conduct internal and external audits with accredited firms and in accordance with established data privacy frameworks. Globally, we hold a variety of accreditations and certifications, including the ISO 27001, a CyberVadis score of 900/1000, SOC 1 Type 2 and SOC 2 Type 2 and the Data Privacy Framework (DPF). Our technology platform is designed to ensure that all data is handled securely and in compliance with relevant regulations, such as GDPR, the U.S. and EU-U.S. Privacy Shield and the California Consumer Privacy Act (CCPA). We employ state-of-the-art security measures to protect sensitive information, including encryption, access controls, and regular security audits.

A. First, we assign a dedicated expense analyst to your account who has a thorough understanding of your benefits. Additionally, our expense manager performs high-level spot checks before releasing any payments. These spot checks help verify the accuracy and compliance of expense reports with policies, ensuring we avoid any incorrect payouts.

A. The lines are sometimes understandably blurred between the two, as both services involve issuing disbursements or making payments on your or your transferees’ behalf. But assignment management also involves providing cost projections at the outset and tracking throughout the lifecycle of the assignment to help you stay on top of things like lease start and end dates and required renewal notice periods, immigration-related expiration and renewal dates, or annual school tuition and fee due dates, to name a few.

A. Managing the budget cap can be challenging, but our internal process makes it seamless. We conduct regular reviews to ensure we stay within budget limits. Our team is dedicated to closely monitoring expenses and making necessary adjustments to maintain budget control.

A. This is a crucial component of our expense management training. Understanding all the nuances around the taxability of each expense ensures accuracy during payroll reporting and any final account close-outs at the end of an assignment.

A. We strive to be 100% accurate, and our error ratio is under one percent. When we do identify an error, we quickly correct it and review our current processes. A commitment to continuous improvement and accuracy is our mantra in everything we do and built into our company values.