What is expense management?

Expense management is the process of monitoring, controlling, and tracking expenses incurred by an individual or an organization. It involves tracking and analyzing expenses, ensuring that they are within the set budget, and identifying areas where costsaving measures can be implemented. Expense management aims to help individuals or organizations reduce expenses, optimize spending, and improve financial control. It typically involves the use of tools such as software or applications to automate and streamline expense tracking and management processes.