ExpenseWatch.com’s open, non-proprietary expense management solution allows you to create an end-to-end system to control, reduce and report on all company spending from when requests are made through to the posting of approved transactions into your accounting or enterprise resource planning system of choice.
ExpenseWatch.com customers currently integrate their expense management data with more than 50 different accounting and enterprise resource planning software systems. Expense data can also be sent to hundreds of payment vendors and payroll providers.
Once online expense reports and purchase orders are reconciled and invoices are approved, data is easily imported and exported from the web-based expense management system. This is accomplished through standard flat file integration (.txt, .csv, .xml). For certain small-to-midsized business accounting systems, ExpenseWatch.com Integrate automatically manages data transfers between systems.
The export function allows you to configure the columns that go into a file and decide how you want to export the data. Once this is set up, it’s easy to flow data between your expense management system and your back-end financial system of record.
Travel booking information from leading travel management companies easily flows into ExpenseWatch.com, enabling expense report filers to quickly reconcile booked travel with business travel expenses. This streamlines expense report creation, significantly reduces errors and helps to eliminate the opportunity for fraud.
Daily credit card feeds from major card companies also flow into ExpenseWatch.com. This speeds expense report creation and processing for business travelers and approvers, and simplifies corporate card statement reconciliation and management for accounts payable staff.
ExpenseWatch.com expense management information can be combined with revenue and sales data from a customer relationship management system, enabling customers to manage and report on sales profitability. In doing so, they gain real-time visibility into contribution margins by company, business unit, region, employee, customer, opportunity and campaign.
Company budget information derived from budget management and planning tools or spreadsheets can be imported into ExpenseWatch.com. The ability to see budgets by company, business unit, department and general ledger account at the point of spend approval means that budget owners have visibility into where they stand against planned spending before commitments are made, enabling true accountability.
ExpenseWatch.com’s shopping cart experience simplifies the process for companies to order products and services. Through the Purchasing module, companies shop for goods and services online using their specific internal catalogs and preferred ecommerce vendors accessing their negotiated products and prices. When done shopping, the products and services in the cart populate purchase requisitions, which are then routed for approval before orders are placed. As a result, companies can be sure that purchases comply with company spending policies and that preferred vendors are used.