The key benefit of implementing expense report software is to create business rules to streamline the process of expense entry and approval. Business rules incorporate corporate policies into the expense system, so different employees have different criteria and thresholds set for entering expenses. Configuring thresholds into the system makes it easy for employees to make sure expenses submitted are in compliance and eliminate possible delays or conflicts that occur in the approval process.
Business rules can define approval workflows, so expenses are automatically sent to the right approver based on the company policies. Business rules can automate the process by considering thresholds for the approvers or routing different expenses according to GL codes.
How to Kickstart?
Before you start implementing business rules, audit the existing rules and processes to make sure that outdated process or workflows aren’t configured into the system. Review and compile all the business rules that need to be incorporated into the expense software for approval. Working with corporate travel and HR departments to review the existing travel and expense policies can help. If your corporate policy doesn’t address areas such as ride sharing and other services such as Uber and Ola, its good time to review your policies.
Define your Workflows
Map Expense Types
Review all the expense items to see what categories can be combined as subset of broader categories. Let’s say the top-level category could be air travel and the subcategories include airfare, baggage fees, Wi-Fi fees, and travel agent fees. Double-check all the expense categories to see if every expense is included. Map all the expense types to the product/GL codes to make sure the expense claimed is re-routed to the appropriate approver.
Doing this correctly will make sure that rules and workflows will work as planned when your team is up and running. The business rules engine automates the process for expense entry and approval for users, approvers and administrators, and enforces compliance to business policies. This dramatically speeds up reimbursement times and eliminates routing and billing errors.
By implementing all necessary processes and rules, you will have a successful implementation. The system can incorporate the business rules into the workflow making it more efficient and organized. Mobile capabilities can help you easily walk through the process, making your life much easier.