Without oversight, it’s almost impossible to control spending
Whether business is booming; growing at a manageable rate; or facing financial challenges because of an uncertain economic future, you know that without oversight and involvement, company spending can easily spiral out of control. One of the best ways to stop the seemingly endless cycle of unapproved and over-the-limit expenses or to empower more people to spend on behalf of the company without fear of losing control is to establish company spending policies. Without them, it is difficult to set boundaries and create controls, much less enforce them.
Join Henry Ijams, managing director of PayStream Advisors, an expense management research and advisory firm, for a highly informative complimentary webcast to learn success strategies for establishing and enforcing company spending policies.
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Expense Control with ExpenseWatch.com
ExpenseWatch.com is a complete Web-based subscription service that gives small-to-midsized companies comprehensive tools to control and reduce operating expenses.
Customers can automate specific expense areas with best-of-breed modules for Expense Reports, Purchasing and AP Invoice Management. Together the modules provide a fully integrated foundation for complete operating expense control. With spend policy compliance automated companies can more easily control and reduce employee spending. The service provides real-time visibility and embedded controls over how a business spends its money, no matter where in the life of a transaction that expense is occurring.
The software-as-a-service, on-demand technology platform allows small-to-midsized companies to affordably control all operating expenses for the first time. The intuitive interface reduces the time to implement and increases user adoption of the service. The subscription based pricing includes implementation, training, support and upgrades. There are no additional hardware or software costs and no hidden charges. Because of the low cost of entry afforded by the on-demand platform, the risks to organizations are minimized.
Travel Expense Reports
Because travel and entertainment is often the second largest expense area for organizations, it is one of the first places companies look to control costs. Companies with traditional paper-based expense reporting systems have difficulty controlling travel expenses.
ExpenseWatch.com controls and reduces travel and entertainment expenses, and streamlines expense reporting across your entire organization. The online expense reporting system provides easy expense report creation, robust credit card management, automatic approval routing and escalation, visibility into spending, and travel expense analysis and reporting. ExpenseWatch.com’s travel expense software makes expense report processing run efficiently throughout your company.
Online Purchasing System
Companies with traditional paper-based purchasing systems often have difficulty making strategic and timely purchases and holding suppliers accountable for transactions. Employee purchases frequently deviate from company spending policy, leading to lengthy order fulfillment cycles and over or duplicate spending.
ExpenseWatch.com automates the entire purchase-to-pay process, providing a nearly paperless purchasing automation system. Requisitions and purchase orders are easily created using the online purchasing software, with company spending policies applied at the time they are created. Automated approval routing and escalation streamline eprocurement, and reporting provides insights into budget vs. actual spending, open and accrued PO tracking, transaction management, and more.
AP Invoice Management
Most companies process hundreds, if not thousands, of invoices every month. ExpenseWatch.com offers an online invoice processing system for managing this paper-intensive process.
ExpenseWatch.com AP Invoice Management automates accounts payable procedures and ensures that invoices are matched to purchase orders and packing lists, eliminating duplication, over spending and paying for products and services not rendered. With AP Invoice Management, you can easily apply company policies and controls to purchases made with or without purchase orders.
When paper-based invoices are electronically processed through ExpenseWatch.com’s invoice automation system, you gain transactional efficiencies. You know who ordered the products or services, whether the right people approved them and you can attach any supporting documents in the web-based invoice automation system. Download your complimentary Webcast here.
