Today, employee-initiated expenses go uncontrolled in most organizations. Not managing the expenses efficiently would result in making false decisions when it comes to expense management.
Expense Report Automation
Automation would allow even complex, multinational companies to automate their expense-reporting processes and enforce compliance, while reducing administrative costs and cutting down the intentional fraud.
The automated solution allows you to automate and manage the full-range of employee-related spending, which includes:
Streamlining approvals and controlling T & E costs
Manage third-party payments
Cut down out-of-policy expenses with pre-trip approval
Quicken payment processing by automatic import
Reconcile employee transactions easily
Transforming the Way you Work
Automated expense software can change the way the expense management processes are handled by offering the following:
Credit Card Feeds
Allows users to automatically import transactions from corporate credit cards such as American Express, MasterCard, and Visa. As transactions can be automatically imported into the solution, you need not manually enter details, thereby, no human errors.
Scan receipts to pre-populate the data into an expense report, so payment requests can be made quickly. Also, you can email receipts, store and send them as attachments from a desktop or the mobile devices.
Comprehensive reporting features give you reports that can help offer valuable insights into employee spending. You can ensure everything is going as per policies defined, identify why spending is going out of the budget and what actions to take to keep expenses in control.
Mobility allows managers and employees access the expense application wherever they prefer, and at anytime. No matter whether you are at the office or working remotely, you can submit, review and approve expenses easily anytime.
Travel Booking Integration
Integrate with travel solutions to easily book an itinerary and get that data into expense reporting system. With travel booking integration, you need not enter any travel data manually and all the trip details can be easily imported into the system.
Enforce all the travel and audit policies by alerting employees about the out-of-policy expenses. Employees can make corrections or give any explanations for out-of-policy submissions. This reduces the iteration time and quickens reimbursement process.
Define audit rules in the expense solution, so every expense submitted will go through random check. It gets checked against the receipt, duplicate expenses, amount limits and other parameters and flags the expenses that are not complying with the policies defined. This helps the finance department figure out out-of-policy spending easily, so it can save time, improve accuracy, reduce errors and fraud.