DIA Overhauled spending processes using ExpenseWatch.com as the foundation for success
Conshohocken, Pa., Oct. 6, 2008 – ExpenseWatch.com congratulates its customer, The Detroit Institute of Arts for winning the Ventana Research 2008 Leadership Award for Financial Performance. The award recognizes DIA for significantly improving financial processes and systems after overhauling its organizational spending procedures.
DIA set out to streamline and apply spending best practices to manage organizational purchasing, while balancing its unique corporate culture with the ever present demands of a mid-sized non-profit. A key factor that enabled DIA to achieve its goals was automating purchasing procedures using ExpenseWatch.com’s Purchasing and AP Invoice Management modules, which enabled greater visibility into spending and access to necessary information in a timely manner.
Since rolling out the new purchasing procedures and system, the DIA says it has reduced spending by 10 percent to as much as 70 percent in some areas. The automated workflows and hierarchies have eliminated the guesswork as to who ordered or approved what and provides increased visibility of spending and improved budget oversight and management.
ExpenseWatch.com provides a comprehensive Web-based system to automate paper- and labor-intensive expense management processes. Providing a complete window into all company spending, ExpenseWatch.com empowers managers to make spending decisions based on real-time information, and enables company expense policies to be automatically enforced. Best-of-breed modules for T&E Expense Reports, Purchasing and AP Invoice Management can be subscribed to individually or as part of a fully integrated expense control suite. Annual subscriptions include implementation, training and support. For more information, visit www.ExpenseWatch.com.
620 W. Germantown Pike
Plymouth Meeting, PA 19462
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HOW SMBS CAN MANAGE COMPANY SPENDING
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