Expense Management
Expense administration is a vital component of any relocation program, and the one that consumes the most time for your staff. ARSI can assist with this process by assuming responsibility for expense reimbursements, applicable tax gross-ups, and expense tracking and reporting.
By outsourcing the responsibility for relocation expense administration, ARSI can provide measurable advantages to your company in the following ways:
Save Staff Time
- We will assist you reduce time spent keeping abreast of current federal and state tax issues. We are versed in the most recent tax laws and their variations by state, your employee’s calculations are based on current information.
- We will assist you in establishing the most appropriate gross-up methodology for your policy and handle the entire process for you.
- Increase accountability for relocation cost containment - we will keep an eye on potential cost savings as we review invoices from service providers associated with a specific relocation
- Employee Reimbursements - in an effort to save your company time, we can also generate employee reimbursements in a timely fashion thereby increasing transferee satisfaction.
Save Money
- Control costs by auditing transferee expenditures
- Reduce the number of policy exceptions with an outside administrator
- Remove the tendency to overpay transferees utilizing lump sum reimbursement
Tracking Management Information
- Expense tracking by expense type - being able to categorize and track all relocation expenses for up to the minute accuracy
- Have access to real-time relocation expense
- Use timely reports for planning and budgeting - You are able to regularly receive summary reports by employee, expense code, division, cost center and company. We can also provide customized reporting.
Satisfied Transferees
- Provide transferees with expert information to help them understand the tax implications of relocation for their own personal situation
- More equitable treatment of employees thus reducing the occurrence of policy exceptions with an outside administrator managing the program
- Counseling the transferee on the best use of their Lump Sum and how to maximize their benefits to successfully complete their move.