The Aberdeen Group reports that 51 percent of respondents cited poor visibility into travel and entertainment expenses, compliance, and suppliers. That’s because for many companies, the expense reporting process can be an endless loop of reviews, obstacles, corrections, and more reviews.
ExpenseWire is an online expense management system that automates your expense reporting.
The system is not installed on individual desktops. No one has to wait to get back into the office to create an expense report. Instead, the software as a service is available online from any computer or mobile device at any time. This convenient access makes it easy for employees to create and submit reports on a timelier basis.
In a sense, all expense reports are “pre-approved.” That’s because spending rules are built right into the system. If an item is entered and it exceeds a spending threshold, the employee receives a literal red flag right on their expense report.
The Review/Approve/Payment lifecycle is fluid and seamless. Once the approver receives the report, it is reviewed and automatically sent to Accounting for processing and validating receipts. The approved report then automatically moves again to Accounts Payable for payment.
To learn more about online expense management, schedule a free demo.