expense management software

Embracing Change Vs. Embarrassing Change – The IT Revolution

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There’s plenty of Expense Management apps in this sea of software.

Often it gets confusing when it boils down to getting one for your company since every system promises you something unique. But do they fulfill all your needs?

How do you find out which one’s best for your company?

Expense Management apps

You either need to pay for the demo or else it comes with a definite period of free usage. But why do you have to pay for expense management software simply to manage your employees’ basic trips and expenses? We don’t think so.

What if we told you that we have an app that does all the basic money management for your company keeping in mind all the expense policies at the cost of nothing?

This is because we think that technology has evolved to a point where basic expense management should be a company’s right and every company should have it.

If you find it hard to believe, you can simply download the app from below and start using it right away.

Why wait?

The entire setup takes a minute or two.

Source : Embracing Change Vs. Embarrassing Change – The IT Revolution

DO NOT Buy an Expense Management Software Solution

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Hello everyone!

Yes, we provide a software solution for companies to manage their expenses.

But we believe you shouldn’t invest in a spend reimbursement software.
Here are some points to justify my arguments:

Spreadsheet is bae. Spreadsheet Rules.

If you and your company are comfortable with spreadsheets, then you should not abandon it for specialized expense management software. Comfort zone is quite important in life. It might not give you the progress you deserve but at least it’s going to keep you stress-free (initially). After all, your company has worked on spreadsheets for so long and even if it’s easy to transfer all these data into the new software you shouldn’t ditch your old pal for a new and efficient system. Loyalty is a must, right?

More Money More Worry.

Keep yourself out of the rat-race. Since the advent of IT, most companies are opting for software to make their work easy and keep their company well-oiled. Adopting a new system means that it might not only save more money but also lessen the amount of work required. This means that some of them will lose their existing jobs. Who would want to do that?

Also, these apps bring transparency into the whole reimbursement process and no one would cheat or skim off some extra money from your company. This can anger some of the employees. We wish to keep our employees happy, right?

It’s a waste of time.

Although it might help you save a lot of time in the future, we are talking about the future here and no one knows what’s going to happen in the future. But for now, you’ll have to invest a few hours to set-up and understand the software. Why waste a few hours just because other companies have successfully installed it and have saved so much time, right?
What works them might not work for you.

Why use a smartphone for office work!

Smartphones are for socializing and calling. Why use it for work or expense reimbursement management? Who would want to take their work to places they go? So many companies are moving towards or adapting to the smart way of working that lets them manage everything from anywhere but that doesn’t mean that we need to imitate them. We are not apes. A 9 to 5 job means that one should come to the office to get their work done. It doesn’t matter if they are doing their job efficiently, being there for those 8 hours is important.

We need to stick to our principles and old-school office ethics, right?

Who spends money on spend management software! Ha-Ha-Ha…

Isn’t it an irony that you need to spend money to get expense management software? In business terms, this might be identified as ‘investment’. But why invest in software when you already have employees doing the same thing over a long period of time? Oh! You’re paying them money to do that too. I forgot. But hey, that’s a good thing (at least for them). Do not worry. There are more important things in life than money and business. Counting your blessings is better than counting money, right?

“Mock on, Mock on – it is all in vain! You throw the sand against the wind and the wind blows it back again.” – William Blake

Not convinced yet? It means that YOU, SIR, ARE A REBEL.

For all the rebels out there who wish to revolutionize the way their industry works, here’s an amazing Expense Management Software Solution for you

Be a LEGEND with Xpensys

Source : DO NOT Buy an Expense Management Software Solution

3 Useful Tips For A Company To Stop Ruining Itself With Travel Expenses

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Employees out on the road for your company is really a good sign which indicates that the company is going good and is continuously looking to seek a new market and new business opportunities. But the problem associated with it arises when it is not in good hands.  If not managed properly, travel expenses can end up unbalancing the budgets of many companies.

Here are 3 tips on how you can avoid your company from ruining itself with travel expenses

1. Define Travel Expense Policies:

You might have a question in mind why policy? how this can save us from travel expenses?. So the answer is quite simple the travel expense policy establishes the company guidelines regarding the different expenses of their employees when they are on the road looking for new emerging markets. This might sound easy but in actual it is not because travel expense takes into account several variables and situations such as:

1. Collection of receipts and proofs of purchase.

2 .Categories of expenses that are borne by the company and those that are not.

3. Spending limits for each category.

4. Mileage policy.

5. Definition of the specific conditions of international trips.

6.  Determination of entertainment expenses.

 

2. Detection of Fraud:

Internal is not new as it often occurs in travel expense either due to misinformation, error or sometimes intentionally. In order to avoid such activities, it is necessary to monitor and address this type of situation because as time passes the small it turns out to be a major expense leading to a negative atmosphere at work. Fraud can be fought effectively on this basis:

  1. Copious detailing in the expenses policy.
  2. Informing employees adequately.
  3. Through measures of monitoring and control.

3. USING SOME FORM OF AUTOMATED SOFTWARE

With the use of some type of specific expense management software, the processes are automated, thus achieving effective management and making it much easier to monitor and detect fraud. Sometimes the use of these computer applications can be combined with the procurement of specialized consulting services, which increases their effectiveness.

These simple measures, which involve a minimum investment, are crucial for any company that wants to handle the business expenses of its employees effectively and profitably, without wasting resources and working hours.

If you are looking to save your company from getting ruined, have a look at our Xpensys Software that can make a difference.https://www.archisys.co/xpensys

 

Xpensys: Smart Expense Management Software Solution you definitely don’t want to miss!

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Businesses all over the globe have their financial teams waste too much time editing business expense reports to make sure they maintain accuracy, reduce spend leakage and pay employees on time. Xpensys software at Archisys solves all the above expense management issues by providing a globally viable expense solution with the capabilities needed to ensure global compliance and delight employees.

Xpensys, a good idea for your industry?

Xpensys- Expense Management is designed so your organization can easily enforce spending policies, capture receipts, process expense claims and make better business decisions based on timely, accurate data.

1.Manage Xpensys easily with mobile apps:

Create and approve from your mobile device, clear visibility as spend happens including approval workflows, real-time updates with push notifications.

2. Trip Management:

Expenses can be linked to individual or trips. Get trip reports on trip closure directly on mobile devices

 3 Real-Time GPS Tracking:

Approvers can track team members under them, check the history and last known location.

4. Custom Approval Leaves:

Custom reporting structure can be defined and levels of approval all as per companies and business units configurations.

Let us share some light on our Xpensys Software by talking to Chitral Jain, Operation Head at Archisys about what it is that makes expense management software truly cross-sector.

 

Q.1. What do you think it is that makes Xpensys a truly cross-sector product?

Well if you ask me, I will say it’s quite simple really, unlike many other Expenses software out there in the market. Xpensys is incredibly flexible, and that is key. Furthermore, we have also worked with clients in various sectors to understand the spending habits of their employees and as a result, we provide a complete solution that fit their actual needs.

Q.2  How is this different from other systems?

Most systems expect the user to select from a standard list of Expense Types, and these usually have more in common with account code descriptions than items people actually buy. Nobody goes into a shop and asks for ‘Staff Welfare’! We present a list of items that people recognize, and then we ask simple questions designed to make sure we can accurately post the expense.

In all these cases, and many more, we have worked with clients to identify their core challenges and then configured the software to match their needs, offering accuracy and efficiency beyond the scope of other products.

The only way you can know about it is by getting in touch with us now. Yes ! you heard it right book a 2-hour free consultation with our team and let them take care of all your problems

How Much Money Can You Really Save With An Automated Expense Solution?

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Employee expenses are often an essential part of running a business. Many will look at the cost as the face value of the expense, but often are unaware of the hidden costs that these expenses reimbursement process brings. The overall cost of processing expense claims can escalate to a surprisingly large number.

The traditional paper-based methods of expense processing are starting to look a little outdated with new automated, cloud-based systems available.

So what are the savings that can be made by switching to these methods?

Mistakes happen and as the saying goes “you’re only human”, however, these mistakes can prove to be costly and putting preventative measures in place will help you and the company in the long run. One avoidable expense mishap is duplicated expenses, whether employees have mistakenly submitted the same expense twice or have intentionally submitted a duplicate, your company may be spending much more money on reimbursement than they should be. Unfortunately, when it comes to using manual processes such as spreadsheets spotting these mistakes becomes nearly impossible. That is where employing robust software that will automatically flag any duplicate expenses is essential.

In addition to spotting duplicate expenses, automated solutions make it much easier to enforce policy compliance. You are able to set expense limits for certain categories, expense limits for out of pocket expenses and much more. This means that you have tighter control over how much your employees can spend. If your employees are ever out of policy guidelines then this will be flagged up and managers can spot any mistakes or possible fraudulent expenses straight away.

Manual processes are inherently long-winded meaning that the time spent on creating and submitting the expense, approving the expense and even processing the expense is taking time away from employees doing more worthwhile tasks. Some companies end up having entire departments dedicated to processing expenses.

Archisys recently asked some of our customers what was one of the best results they have achieved from implementing a custom build mobile expense solution we built for them and a common answer was that it was allowing their staff to get on with their actual work, while they approve on the go. Implementing a quick and easy-to-use system that takes away all of the manual data entry frees up considerable time for your employees. Additional features like tracking location and auto credit transfers via banks is a cherry on the top.

Do you claim GST back on your expenses?

If not you have been missing out and if so you will know how complicated it can be. Without the use of automated solutions claiming back can be a real headache for your finance team. It is hard to fully quantify but when you start to see the cracks in an old expense management software it is easy to see how time and money quickly gets lost. Companies invest massively in improving and refining other processes so why not take this approach to your expense management too.