Expense management is an important business process that allows organizations to effectively track and manage the costs associated with goods and services purchased. It involves collecting and processing invoices, tracking expenses, planning budgeting, and driving cost reduction initiatives. As businesses become more cost-conscious and complex, expense management systems are essential in ensuring a company’s financial performance and long-term sustainability. By keeping accurate records of spending, companies can create budgets that reflect their needs, as well as identify areas where cost savings can be realized.