Using Asia expense management software can help your company's bottom line. Moving away from spreadsheets to automated expense tracking software means companies can gain greater insights and control, reducing costs and providing a faster and more accurate T&E approval and reimbursement.
In addition, keeping track of the complex and often changing laws in countries such as China, India, and Japan, to keep your company in compliance makes using expense tracking software even more attractive.
Online Expense Report System
Software as a Service (SaaS) has increasingly become the norm in expense management software. Because SaaS requires no extra IT presence, offers customer support, and reasonable costs, companies are increasingly moving toward the SaaS model.
Automated Approval Workflow
Companies who use expense report software expect to have pre-configured expense report workflows; however, in addition to traditional user-to-user approval workflows they also expect workflows based on policies.
When a line item goes out of policy, such as a hotel expense that goes over a certain amount, companies want to see items routed to the appropriate approver automatically. Automated expense management software gives you the ability to do so.
Expense Policy Enforcement
A great deal of savings is realized in simply enforcing exisiting company policy. With spreadsheet or pen and paper methods, the likilhood for specific line items to exceed spending limits without detection often occurs, or is approved by management regardless of the violation.
With automated expense tracking software, expenses that exceed a specified limit are given an error message, and are not allowed to be entered into the system without specific approval. By uniformly applying spending policies company wide, significant savings can be realized.
The ability to go paperless is increasingly expected by companies searching for expense management software. Tracking down specific receipts as they make their way throught the approval process is no longer necessary with the use of receipt imaging. By using digital recapture, e-receipts, and online processing, the volume of paper can be greatly reduced or even eliminated.
Corporate Spending Data Analysis
Trends in employee expenses may be detected and analyzed using corporates spending data analysis. Many expense management software services provide the ability to generate and run a variety of reports which analyze spending in a variety of areas and which give the company the ability to keep costs in line.
Knowledge of Law and Tax Implications for Asian Countries
Educating your staff on the complexities of the various tax laws for China, India and Japan, for example, is a time consuming and ever changing body of knowledge. Utilizing Asia expense management software ensures your company will stay in compliance with the numerous laws and regulations that cover taxation and expense management.
Expense Report Software
Asia Expense Management Software