Expense and Travel and Expenses (T&E) reporting can quickly become a logistic nightmare for the accounting team. It’s therefore incumbent for the company to ensure the employee creates and submits approved business expenses compliant with company policy. Inversely, the employee is usually interested in receiving quickly the business and travel expenses’ reimbursements.
Is your team increasingly mobile? Are expense accounts multiplying?
Needless to say, the creation of expense reports submitted must reflect costs incurred during the exercise of the employee’s duties and need to have the supportive proof by way of appropriate expense receipts.
All the same, manual process of tracking expenses and its approval process often results in a fastidious, error-ridden and highly time-consuming process. How many times have you received receipts and reports with a plethora of unreadable and often creased papers? To make things worse, we can add the notion of mistakes, incorrect internal policy application of expense management, archival and transparency issues not to mention fraud risks.
Clear visibility and transparency, a critical issue
For small business or any other sized company, the idea of seamless visibility of expenses usually represents a most highly important component. This notion of visual clarity on expenses allows a real-time monetary tracking of the specific allocated budget(s) to that position. This is where the use of a cloud-based and mobile apps T&A automation solution renders a tremendous benefit in overall expense management.
Speed up and simplify expense reporting management
At Integrim, SenSaaS offers this type of feature and functionality. It allows controllers and finance directors to alleviate quickly its expense reporting management process. This applies equally to travel expenses. Our solution enables credit cards receipt captures, eliminates manual data entry, validates, classifies and archives them.
SenSaaS is agile and mobile and available 24/7 from anywhere and from any device whether it be a laptop, tablet or smartphone.
This highly secure and flexible access gives the employees expense reports, the ability to create the images of the receipts from their mobile device and to integrate electronic expenses records coming from emails and/or PDF.
This type of automated OCR (optical character recognition) technology is deemed more efficient even in mobile mode to quickly process the expenses.
It has also the capability to attribute various GL coding commensurate with the different expenses categories in place. SenSaaS also provides precise and relevant dashboard-style reporting related to the sum of processing activities and results for effective AP processing.
It therefore reduces and mitigates the likelihood of fraud, errors with a very high degree of precision and speedy validation timeline. The result is the employee gets reimbursed more quickly.
In summary, numerous are the benefits for the company
- A productivity gain for the controllers, management as well as the employees who must submit reports
- Real-time visibility access to travel and sales entertainment expenses. This allows for better overall fiscal control including the appropriate taxes
- A Go Paperless situation, which eliminates the need for additional storage space and manual handling time
- A more rigorous application of the company costs policies and approbations
- A quicker reimbursement of incurred expenses to employees.
Best practices in cost management imply to preserve all supporting documentation and its traceability for reimbursements. The SenSaaS software provides powerful added value for companies requiring great mobility and seamless visibility needs. Even when the information is archived.
All employees at all levels can therefore easily connect and submit expense reports from anywhere with internet access. Entertainment and travel expenses are just a small aspect of SenSaaS’s powerful and robust capabilities. Our solution integrates many other processes such as Accounts payables, receivables and purchase orders in addition to human resources just to name a few. Once installed, SenSaaS permits a full 360° view of your company’s overall financial situation.