What is Expense Management?

A definition of Expense Management

“Expense management is the process of monitoring, verifying, and controlling the expenses incurred within a business to ensure accuracy and compliance with financial policies.”

Expense Management in Business Glossary - What is Expense Management?

Business Glossary > What is Expense Management?


Examples of Expense Management in a Sentence:

The company uses software for efficient expense management.

Good expense management helps reduce unnecessary costs.

She is responsible for handling expense management in the firm.

Why is Expense Management Important in Business?

Effective expense management is crucial for businesses to maintain financial health, prevent overspending, and allocate resources optimally. It helps ensure that company funds are used appropriately and facilitates strategic financial planning.

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Associated Terms

Here are some associated business terms and synonyms for “Expense Management”:

  • Cost Control
  • Financial Management
  • Budgeting

Oracle Expense Management

Oracle offers a comprehensive expense management solution that streamlines expense reporting and provides real-time insights. Companies like Deloitte use Oracle’s tools to enhance their expense management processes, ensuring accuracy and compliance.

Final Notes on Expense Management

Businesses should focus on implementing effective expense management practices to avoid financial waste. Regular audits and use of technology can enhance the efficiency of managing expenses.


This has been a definition of Expense Management meaning.

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