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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

Automation is the key to controlling and reducing operating expenses. For many small and midsized companies, expense tracking is managed through Excel-based travel expense reports and piles of paper purchase orders, requisitions and invoices.

These manual, paper-based processes provide little or no ability for spend policy enforcement. Manual expense control processes can result in other operational expense problems as well.

• No spend visibility, especially for rogue spending
• Difficulty consolidating expenses to negotiate better pricing with vendors
• Over spending
• Too much time getting approvals and reimbursements
• 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 operating expense 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 entertainment 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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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 free PDF here.

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