Travel Expense Management Whitepaper

Travel Expense Software—Where to Turn

If you’re considering a move to online travel and entertainment expense reporting, you’re not alone. Analysts now estimate that over the next five years, as much as half the software sold to corporations will be on-demand, software as a service (SaaS) offerings. Your challenge is to sort through the online expense reporting offerings of numerous vendors who advertise on-demand services for travel and expense reporting, and identify the best solution for your company’s expense reporting and compliance requirements.

Travel Expense Management Challenges

To control and reduce company spending, automation is key. However, what you will find in most small and midsized companies are excel-based travel expense reports and piles of paper purchase orders, requisitions and invoices.

This means there is little or no ability for spend policy enforcement. What’s more, these piles of paper can result in other expense problems:

• Lack of visibility especially for out of policy spending
• Missed opportunities for vendor discounts
• Over spending
• Long approval processes
• People-intensive expense analysis and financial reports on expense management

Travel Expense Control Automation—Download Free Buyer’s Guide

The impetus that leads companies to automate company spending controls varies greatly from organization to organization. Please fill out the form to your right to obtain your free copy of this Travel Expense Management Buyer’s Guide which provides valuable insights into how to assess which online expense reporting solution might be right for your company.

This White Paper includes:

• The rationale for expense reporting automation
• A definition of what travel and business expense automation is
• The benefits of travel expense management automation
• Information to help you select travel expense software
• Best practices in travel expense management

About PayStream Advisors

PayStream Advisors is a research and consulting firm focused on financial automation solutions, bridging the information gap between companies seeking automation technology and those offering software and solutions. PayStream Advisors delivers unbiased, third-party market trend information, assessments of financial automation technology and innovative ideas to business leaders.

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Open the window into all company spending with ExpenseWatch.com

With ExpenseWatch.com, you can open the window into all of your company spending and obtain an unprecedented, real-time view into how money is being spent within your organization. In addition to providing one window into all spending, you can eliminate time-and resource-consuming manual, paper-based processes, while automatically ensuring your company spending policies are applied and enforced.

Best of breed online software modules for Expense Reports, Purchasing and AP Invoice Management provide for complete expense management. You can subscribe to individual modules to control a specific spending area in your company or to the comprehensive, fully-integrated suite. Annual subscriptions include implementation, training for all users, support and usage analysis. Our open expense control platform gives you the flexibility to integrate your expense management data with a wide range of business applications.

Travel Expense Reports

If your company uses a paper or Excel-based expense reporting system, you’ll have difficulty controlling travel and expense spending. In fact, employee travel and expense spending is often the second largest expense area for companies, which often makes it one of the first places they look to control costs.

With ExpenseWatch.com.com Expense Reports, you have a seamless system which includes pre-trip approvals through to expense report reimbursement. You easily combine your travel, credit card and expense management programs significantly streamlining expense report creation. Company spending processes are fully automated with your specific internal controls being applied across your entire organization. Comprehensive reports provide visibility into all spending.

Online Purchasing System

Let’s face it, it’s nearly impossible to make strategic purchases or hold suppliers accountable for transaction if you have wade through piles of paper to find things. What’s more, most paper-based systems make it nearly impossible to track employee purchases to ensure they follow company spending policy, leading to lengthy order fulfillment cycles and over or duplicate spending.

With ExpenseWatch.com Purchasing you can create a nearly paperless automated purchasing system. You can search a catalog of products, link up with vendors in your purchasing network, add items to your shopping cart, create recurring orders, attach pricing quotes, and more. Automated approval routing and escalation streamline eprocurement. Comprehensive reports provide visibility into all spending.

AP Invoice Management

ExpenseWatch.com offers an online invoice processing system to manage the hundreds, if not thousands of paper invoices your company receives every month.

With ExpenseWatch.com AP Invoice Management you can make sure invoices are matched to purchase orders and packing lists, which eliminates duplication, over spending and paying for products and services not rendered. The invoice template, lets you create online invoices whether or not a purchase order was generated. Items are added by selecting from uploaded credit card data, a purchase order, packing list or a product catalog. Company spending processes are fully automated with your specific internal policy controls being applied across your entire organization. Comprehensive reports provide visibility into all spending. Download your free PDF here.

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