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“The fact that ExpenseWatch.com system was designed by accounting professionals is apparent and certainly helps.” Tanja Bullock, CGA Manager, |
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Challenge
- Excel purchase order templates listed multiple vendors and required various signatories, resulting in a slow and difficult approval process.
- Lack of real-time PO tracking meant Abebooks had no way of viewing actual commitments or expectations of spending.
- International offices and transactions meant that multicurrency functionality was a must.
- Unique reporting structures throughout the organization necessitated maximum flexibility and customization.
Solution
- Abebooks evaluated both traditional and Web-based providers, deciding the ExpenseWatch.com on-demand system provided the most functionality for the cost.
- ExpenseWatch.com’s Purchasing and Invoice Management modules were implemented and training was completed in under four weeks.
- Abebooks’ ACCPAC accounting software integrated with the ExpenseWatch.com system, enabling global PO tracking and accurate budget allocation.
Results
- Users can access the system from remote locations, drastically shortening the time needed to gain purchasing approvals.
- Automated data extraction and validation into the existing accounting system eliminated the need to re-key data, reducing errors and the burden on A/P.
- Centralized PO tracking system enabled Abebooks to view actual spending as it occurred, not after the fact.
About Abebooks.com
Abebooks, the world’s largest online marketplace for books, lists over 80 million new, used, rare and out-of print books from more than 13,500 booksellers. A private company based in Victoria, BC, with multiple European offices, Abebooks was named one of the top e-business sites by the United Nations.
