When you look at typical travel expense reports, they may seem easy to understand at first. However, if you have dozens of those reports coming in throughout various global divisions of your business, it can quickly become a challenge.
Chief Financial Officers know that it is important to define and enforce expense policies and controls that meet the needs of the business. However, when it comes time to review or audit expenses, that’s where the “rubber meets the road.”
Your policies may be excellent, but are they being implemented in the most effective way?
With The Cloud, Your Expense Policies And Controls Can Be 100% Accurate And 50% Faster
ExpensePoint provides you with the ability to manage and implement policies in a way no other software can match – an easy, intuitive, and effective way to develop controls that are much less subject to simple human error.
Thanks to advanced Policy Manager functionality, your financial control system now works its way through documents and defends its own integrity using the power of the cloud, even before any human financial analyst has had time to review a document:
— Red flags and infractions are now easier to see and work through than ever before.
— New policies can be added or existing policies can be amended right away, as needed.
— Expense reports on travel and other issues can be retained indefinitely for retrospective views.
— Everything can be done in the context of an easy and simple Graphical User Interface.
Be Aware Of Red Flags Intuitively And React Instantly Rather Than Retroactively
Throughout most of the history of business, it was necessary to audit travel expense reports and more in hindsight. It was very difficult to be proactive with certain categories of expense and some financial transactions, leaving them at the whim of personnel that can be distant and disengaged.
With regulatory controls tightening, the traditional way is no longer the way to do business. ExpensePoint is the industry leader for proactive engagement with expense reports and more, helping you find and correct problems right away.
“Red flags” don’t necessarily mean that someone is setting out to misuse company funds. However, financial executives and business leaders can now take an active role in correcting mistakes. If someone demonstrates a pattern of problem behavior, they can be relieved of responsibilities before they do real damage.
Without the right tools, even the best policies fail. Are your paper-based processes working?