The lifeblood of the modern business enterprise is a series of daily financial and administrative processes that enable organizations to monitor and control expenses, track payments and invoices, and organize and manage workflow. The smooth functioning of these processes has always been essential to the efficient and profitable operation of the business. But in this era of increased regulatory scrutiny, these processes must also be able to supply documentation critical to compliance.

Most organizations have hundreds or even thousands of personal expenses every month, be it petty cash, expense returns or credit cards. The cost of completing, authorizing, reconciling, re-checking, adjusting taxes and re-keying the data into an accounting solution is both tedious and inefficient.

Automating your expense management process with an online payroll service can reduce reporting and processing time and overall costs by as much as 70%* or more! Expense Management uses the power of the Internet to prepare, approve, process and even reimburse. Management can look at expenses by person, department, project, client or any other level of analysis. Reports can show year to date and month comparisons with multiple levels of analysis.

Online Expense Management generally includes a suite of applications that provides cohesive control and analysis of all employee-initiated corporate spending. These applications can be either deployed individually or collectively to create a complete expense management solution.

Some of the benefits of automating your employee’s expenses are:


Increases employee productivity-
Gain authorized access to the expense report software system at the office, from home, or on the road
Standard templates and smart lists with pre-populated fields enhance expense tracking and expense reporting speed and accuracy
Expenses can be downloaded from company-issued cards
Expense tracking reports are routed automatically for review and approval
Email notifications provide expense report approval and payment status

Improves expense policy compliance-
Examines expense items for designated compliance issues
Proactively identifies expenses with missing information
Flags out-of-line expenses
Lets you configure policy compliance specific to your company's rules

Provides a rapid return on your expense management investment-
Quick to implement and easy to use
No need to purchase equipment
No requirement for new expense tracking software
No special support needed from your IT staff

Online payroll service helps keep your expense management information secure -
40-bit and 128-bit secure sockets layered encryption
Multiple-layer password protection
Several separate layers of security
Periodic, automatic security upgrades

The online software provides the ability to capture organization-wide travel expense data for faster payment, less administration overheads and detailed real time management analysis to control costs.

Cheers

Paul

Resources:
Online Expense Management Software Solution
Human Resource Management Software (HRMS)