It’s been more than a decade since the Sarbanes-Oxley Act, the defining U.S. legislation for financial compliance and control, went into effect. In that time, billions of dollars have been spent across the U.S. and around the world to ensure compliance.
Yet, even today, in 2014, there are changes to the rules being pondered and put through. Most companies are swiftly improving in their ability to manage SOX, but the “expense report” on compliance shows that the cost is going up for many firms, not down.
Add to that the fact that the European Union is hard at work on a variety of new regulations, and you have a true compliance challenge emerging in coming years. If there has ever been a time to look for a permanent solution – to capture expense report data, general ledger, and more – now is the time.
When It Comes To Regulatory Compliance, You Truly Never Know
Just like individuals, businesses benefit from keeping information on file for as long as they can in case of audits. However, unlike individuals, businesses have exceptional solutions for doing it.
If you are a financial decision-maker, it’s time to consider the benefit of ensuring that all of your enterprise’s financial information is archived and readily available for as long as possible.
With ExpensePoint, we have done everything we can to ensure that you can not only monitor expense information, but use a robust system to export data and keep it – functionally, for the entire lifetime of your business.
No matter what kind of expense report you are working with – business travel expenses and many others – our export system empowers you with all of these features:
— Instantly export multiple categories of expense report data.
— Create customised payroll output and general ledger files.
— Integrate completely with QuickBooks, Sage, Great Plains.
The Best Way To Ensure Compliance Is To Exceed Compliance Standards
No enterprise has the work hours to “give 110%” when it comes to all aspects of compliance. However, ExpensePoint software allows you to cut down on the “unknown unknowns,” building your compliance portfolio while still saving time.
Improper or inaccurate reporting of travel expenses alone can cost your company millions of dollars and give its reputation a “black eye” that will require unknown investments to recover from. With the right tools, you can protect your enterprise’s fiscal health much more readily.