Expenses Management - Expense Management Software Is Now Critical To Any Business Concerned With Corporate Compliance

Expense management solutions from specialist providers can be relatively seamlessly interfaced to an organization's internal systems such as HR and ERP, but will not present a common look and feel to the ERP system.

PA, PA (prHWY.com) December 7, 2012 - PA, Dec 07, 2012 - Expense management solutions from specialist providers can be relatively seamlessly interfaced to an organization's internal systems such as HR and ERP, but will not present a common look and feel to the ERP system.

As a key element of any corporate compliance policy, expense management has shared some of the limelight. As a result, corporate expense management software is now critical to any business concerned with corporate compliance. But what is corporate expense management software? Does your company need it? And where do you find a good corporate expense management software solution? Just as importantly, how do you successfully implement and integrate corporate expense management software into your corporate environment. This article sheds some light on these issues.

Expenses Management - To automate the preparation, submission, approval, and auditing of travel & entertainment claims, thus improving the productivity of account holders and reducing the time and cost of accounts staff; to support the implementation of a standardized best practice method of managing high volume expenses through the use of corporate credit cards; and to increase the transparency and enhance the governance of financial transactions conducted on behalf of the enterprise.

ERP sourced expense management has the attraction of being fully integrated within the financial suite of software, therefore offering a standard look and feel to all users of the ERP. With ERP sourced expense management functionality, the ERP supplies the core software, and the enterprise needs to customize and configure the system to reflect its own structures and rules regarding the management of staff expenses.

Some card issuers promote "expense management" solutions which can range from a computer generated report through to an online system with some embedded workflow concepts. The attraction of card issuer expense management solutions is that they are offered as part of a card deal, sometimes (apparently) for free. If you're considering a card issuer expense management solution, you need to know:


Best-of-breed expense management solutions are typically deployed as either an ASP (Application Service Provider) or self hosted solution. Although exceptions are common, small to medium enterprises tend to appreciate the lower up-front cost of an ASP expense management solution, and larger enterprises are attracted to the control available through a self-hosted corporate expense management software solution. ASP expense management solutions are typically paid for on a per statement per month basis, and self-hosted corporate expense management software solutions have a range of options available from up-front license fees to monthly license rentals.
Overcoming the cultural resistance to corporate expense management software

Some Finance Directors still have an aversion to corporate credit cards. It's not uncommon to hear a finance director say "if I give everyone a card, they'll spend us broke!"

However, the benefits of corporate expense management software are apparent as soon as the Finance Director considers the difficulties of controlling the expenditure behavior of thousands of employees using a manual system of reimbursements which is largely based around a set of uncoordinated spreadsheets. Basic activities such as enforcing travel policies, calculating tax implications, reconciling, posting to a chart of accounts at a detailed level and auditing, are so difficult as to be more honored in the breach than the observance.

About the Author:

Expense Reimbursement - ExpenseWatch.com delivers spend management products & services for businesses that automate manual, time consuming paper-based processes for company purchases, payable invoices and expense reports, while enabling visibility and control of all company spending.ExpenseWatch.com delivers expense control products & services for businesses that automate manual, time consuming paper-based processes while enabling visibility and control of all company spending.

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Plymouth Meeting, PA 19462

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