Compleat Expenses Management
The automation of expense claims will substantially reduce the time taken (usually with the working day) to produce the claims and cut the resources and time required to check, code and post expenses by at least 40%.
A simple calculation will show that each expense claim takes at least 45 minutes to produce, 5 minutes to approval and 30 minutes for accounts to check, code and post. One hour and 20 minutes per claim per person, per month. If the fully loaded cost of the individuals averaged £40k per year – it works out that each expenses claim costs about £28 to process. 200 staff claiming every month is costing the business over £67,000 per annum.
With Compleat ExpensesComplete Accounting General Ledger coding at source (automatically)
Accrue costs on submission for approvals
Automated workflow for approvals
Capture every rechargeable cost against clients and projects
Download expenses from all major credit cards (and corporate cards)
Use templates for common journeys (car / station parking / train)
Control expense against corporate policy at time of expense creation
Simplify receipt verification process
Choose most appropriate deployment method
Perpetual license, local installation
Perpetual license, hosted installation
Full software as a service (SaaS) subscription model
Cutting the time to both produce expense claims and then process them makes obvious sense, especially as staff find their personal cash becoming tight. As important, organisations are looking to regulate costs and impose more stringent rules on what can be spent, by whom and when.
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