Best Practices for Optimizing Business Expense Categories

SAP Concur published an article on business expense categories and how to optimize them. It says expense categories are predefined classifications used to track, manage and report employee spending, supporting transparency, policy compliance and budget control. It recommends refining and streamlining existing expense types, addressing the 'Other' or 'Miscellaneous' category, and aligning expense policies with categories. Citing SAP Concur customer data, it says the 'Other' and 'Miscellaneous' categories jumped by 57% and 47% respectively, and notes Penn State University worked with Huron Consulting to reduce over 1,000 expense types to 200.