With ExpenseWatch.com, controls are built into the system, enabling real-time visibility into how company money is spent.
Business unit configuration
Your company’s organizational structure is represented by business units which can be configured to a granular level.
- Users, user permissions and roles are components of each business unit
- Administrators have access to hierarchy, activation status, editing, adding and deleting
- Business units can be designed to match your corporate structure regardless of its complexity
Signature authority form & user permissions
The Signature Authority Form (SAF) defines the approval chain for purchase requisitions, invoices and expense reports for each business unit. Your SAF is fully configurable based on your corporation’s heirarchy. As a transaction moves through the system, your SAF is automatically applied to create the correct approval chain for that transaction.
After creating your SAF, define the exact level of user access throughout ExpenseWatch.com. Permissions can be set for specific users or for groups of users as defined by role. The ExpenseWatch.com interface is automatically customized for each user based on their permissions.
- Set transaction permissions such as spending limits for requisitions, expense reports and invoices
- Define editing permissions for vendors, categories, products, budgets, T&E categories and more
- Allow access to various ExpenseWatch.com reports
Preferred vendors
The system can be pre-populated with products and services from vendors with whom you have negotiated pricing and fees. Spending policies can be applied that flag or disallow spending if employees try to purchase from someone other than a preferred vendor.
Transaction management and error correction
It’s easy to make mistakes when creating requisitions and purchase orders. What isn’t easy is rectifying those mistakes when your company uses a paper-based system.
In ExpenseWatch.com, you can void, unvoid or edit transactions by checking a box. The system manages the process by evaluating approval thresholds and user permissions, sending email notifications to financial approvers and adjusting budget figures. Error correction and transaction management becomes fast, easy and efficient. Audit trails track appropriate changes to ensure compliance mandates are met.
Company preferences
When a requisition is complete, submitters click Process and the system automatically sends it to the appropriate approvers based on parameters set by the administrator. Because company policies are automatically enforced and applied, control becomes defacto standard, instead of a constant concern.
