Expense management is an important part of the overall financial strategy for any business. It is a comprehensive approach to controlling spending, monitoring costs and ensuring that money isn’t wasted. An effective expense management strategy helps businesses maximize profits while minimizing costs. It involves evaluating spending patterns and creating policies and procedures to track and manage expenses in an efficient manner. A successful expense management strategy also encourages employees to use practical methods when making purchases and filing expense reports. With an effective system in place, businesses can create more fiscal responsibility, improve their bottom line and make better use of their resources.