Fast and accurate, that’s the two qualities of the effect of computerization of the systems in a company. One of the system that I will recommend for company to automate is the management of their expenses. This reduces the steps undergoing by the company in preparing expense reports and processing it.
A usual manual process involves an employee prepares an expense reports containing the expense claim which is usually manually written in paper or encoded in a spreadsheet software. Then, the employee will forward this report, along with the relevant receipts (and other supporting documents / proofs of the transaction), to their manager for approval. After the approval of the of the claim by the manager, the report will be forwarded to the accounts department for processing. The accounting staff/clerks then key-in each expense item into the company’s finance system before filing the claim and receipts away. This will be a duplication of the previous tasks that encoded the data to the computers.
That’s why it is very practical to impose an expense management software that automatically generate the report and eliminates paper work. There will be no duplication of encoding and data can be accessed easily. There are two ways of acquiring such system. One is through purchasing a licensed software to be implemented in the company. This is more applicable to large companies. However, for small to medium size companies, this will be very expensive for them. This is because the organization should invest for its installation and management cost. That’s why an expense system provided by third party company – a SaaS (software as a service) provider, will be more applicable to these size of companies.
One 3rd party company that offers this kind of service is Certify, which can be visited on their official website at http://www.certify.com/. It’s a company based in Portland, Maine USA that offers a self service online expense management solution. As the name of the company is suggesting, the expense management software they provide is truly a certified great tool that can really increase the efficiency and productivity of the employees of a company. What so different from their system to other companies is that their expense reporting software allows you to easily customize it so that you can implement your company’s travel policies. You can also work it along with your company’s accounting system without changing your current system. Another one unique feature of Certify’s service was its easy features in capturing and sending receipts through the use of camera phones such as iPhone and Blackberry. They also offers two kinds of service: Certify Personal for individuals and Certify Corporate for corporations.
If you wish to try their system, Certify offers a 30 day no obligation no fee free trial of their expense management software or you could watch the following video for the overview of the capabilities and features of their system.
[…] Expense management is a process of keeping track of the expenses of your employees, and in cases of self-employment, you can use it by personally managing your expenses associated with doing business. Sometimes, we tend to overlook budgeting and managing our expenses due to the heat of driving sales, but little do we know that it is important how to do this for better and effective expense management. So I will be giving you some tips and ideas on expense management for you to wisely manage your costs and possibly avoid the slippery slope to insolvency. […]