Expense Management Software that reduces costs and increases employee efficiency
Employee-initiated expenses can account for a surprisingly large percentage of total corporate spending. In challenging economic times, companies that can’t track, analyse, and control these expenditures are missing an important opportunity for cost savings. Consider, for example, the cost of unnecessary travel, unauthorised purchases, unused discounts and rebates, honest expense report errors, and under-billed clients. Other hidden costs can include the time and effort spent on administrative duties related to accounting for expenses and payments, as well as outright fraud. Organisations that gain control over employee-initiated spending and automate expense-related processes can see dramatic benefits to the bottom line.
Used by forward-looking companies all over the world, Infor Expense Management software reduces the cost and increases the effectiveness of employee-initiated expenditure and revenue processes, including those for travel expenses and entertainment expense claims, travel planning and pre-trip approval, rechargeable time capture, and supplier payment initiation.
Modular by design, Infor Expense Management lets companies select only the capabilities that address their specific business requirements, and the flexibility to grow.
The solution’s four core modules—Travel Plans, Expense Reports, Payment Requests, and Timesheets—share a single, intuitive interface, so they are simple to learn, use, and maintain. These integrated applications make it easy to plan and expense business travel, request and approve payments, charge time to projects and cost centers, and calculate paid time off and overtime. The overall result is comprehensive control over employee-initiated corporate spending.
Infor Expense Management automates all employee-based financial processes in a single, consolidated solution, and offers world-class reporting and auditing. Infor Expense Management allows even complex, multinational organisations to automate expense-related business processes and enforce policy compliance, reducing associated administrative costs and decreasing the opportunity for accidental error and intentional fraud. With it, companies can implement instantaneous global updates to policies and processes to support continuous improvement, while simultaneously managing local policies and statutory requirements. The solution provides you with:
- Expense Reports—Infor’s web-based, automated system dramatically reduces the hassle, time, and cost of creating, approving, and processing expense reports, and offers the visibility and control necessary to comply with today’s accounting standards. Travelers can create and manage expense reports whenever and wherever it’s convenient-the office, the airport, even a taxicab-with Infor’s offline client and mobility platform. Plus, reviewers can open expense reports and attached supporting documents when they receive email alerts-without logging into the application.
- Travel Plans—Travel Plans enforces corporate travel policy before spending occurs, because the system verifies compliance with corporate policy as employees make their travel plans-which they must then submit for approval. Plus, Travel Plans allows attachment of travel plans to expense reports to compare planned and actual expenses. Not only does this help managers make better approval decisions, it adds rich analytic capabilities to improve future budget planning.
- Payment Requests—Employees sometimes must purchase goods and services immediately, bypassing the company’s purchase requisition and order process. As a result, these requests often go untracked, resulting in an incomplete view of employee spending. Payment Requests closes this gap by eliminating duplicate data entry and automating validation, ensuring that requests are accurate, complete, and charged to the correct cost centers or project codes. While Payment Requests is designed for use by non-finance employees, accounts payable (AP) and purchasing personnel can also use the system to enter information on behalf of other employees.
- Timesheets—Accurate recording of salaried and hourly employee time is vital for timely customer billing and payroll calculation. Yet, this simple function is typically manual, time-consuming, and error-prone. Timesheets simplifies the process by letting employees accurately report project hours as well as general work and absence hours, in a fraction of the time required by traditional paper-based methods. Quicker processing times and fewer errors lead to more efficient customer billing cycles and a reduction in days sales outstanding, contributing directly to the bottom line.
- Mobile device support—Employees can create expense reports on smart phones and other mobile devices anywhere, any time. Plus, managers can view and approve expense reports from their mobile devices, leading to time savings, maximum performance, and rapid response.
- Digital receipt management—Employees can easily attach, email, or fax receipts for a paperless solution.
- Flexible, affordable delivery options—Choose from an unparalleled range of software deployment options. Take advantage of a hosted version and let us deal with application management, or license the application outright.
Infor Expense Management customers typically earn a return on their software investment in 9 to 12 months, whether they choose to license the product or use our hosted services. The benefits they reap include:
- Improved employee compliance with spending policies
- Increased savings through effective vendor negotiation and rebate usage
- Reduction in unnecessary travel and purchases
- Fewer people needed to process documents
- Reduced manager time spent on approvals
- Increased accuracy of time billed to clients and paidtime off due employees
- Higher amounts of foreign taxes reclaimed
- Increased efficiency through effective domestic and nondomestic VAT identification
- Reduced employee time spent on travel planning, expense reporting, time capture, and purchasing of goods and services
- Lower administrative costs
The Infor Expense Management modules share a common, scalable, Internet-based product architecture designed to work with your existing financial, HR, payroll, and project accounting systems, and can link to multiple back-end systems of the same type. You can easily deploy them, and the solution’s System Administration Tool makes it easy for nontechnical administrators to manage changes in the company’s policies and organisational structure. Now that’s doing business better.
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