Expense Management Software
Simplify and Control your Employee Expenses
Expense management made easier with increased flexibility & smart check; leaving no room for fraud or double entry. We make your expenses more structured, effortless and well timed!Request A Demo
Configure as per your business requirements
Set Organization expense limit
Create different expense categories like flight, local conveyance, daily allowances & define their respective limits. You can also define limits basis locations.
Create Multiple expense policies
Don’t stick to single policies, define as many policies as you wish as per employee grades, seniority or positions for different departments with our expense tracking software.
Define multiple advance policies
Set amount limit for the advance request raised by employees. You can also mention the outstanding advance balance limit in the policy so as to ensure no new advance request is raised without utilising the previous advance funds optimally.
Fix expiry time for old claims
Use the policy setting in the HR software to mark the expiry time for old claim requests using the expense management software. For instance, you can mention if an employee can raise a claim request for 5, 3, or 2 months old claim later or not.
Calibrate expense reimbursement cycle
Mention as to how frequently you wish to clear expense payments- once, twice or more in a month? You can choose a cycle and fix a date for payments. Everything is synced with your payroll software
Real-time and easier to manage
Get Expense receipts and reports
Let your Employees add their expense receipt in real time in HROne through web and mobile, and share complete expense report for approval with you.
Approve Exceptional Expenses
Don’t worry for the expenses not covered in policies. The system lets you create and define workflows for all the exceptional expense approvals.
Tag customer & projects with the expenses
Learn which expenses are billable to your customers, trace the entire expense costs for your project by looking at the logged expenses by employees.
Raise advance requests
Using our expense management software, employees can raise expense advance requests with a supporting document with ease. Requests are approved as per the workflow.
Run Smart diagnostic check
The smart check run by system ensures fraud management, by disallowing employees to log redundant claims and expense claims not adhering to policies.
Quicker than ever
Facilitate Expense Payouts
Once expense receipts are received, select payout mode (cash/bank account) for the respective employee and clear all payout requests in a single click.
Auto Adjust Advance Payouts
Our Expense Management Software auto adjusts any advance payouts against the actual receipts without your manual interventions so that you can focus on other relevant tasks.
Segregate The Payouts
The system automagically segregates reimbursable and non reimbursable payouts logged by the Employee to stop you from paying for the expenses you have already given advanced amount for.
Auto currency conversion
Just mention the currency conversion rates and enable HROne HRMS software to convert the expenses done in some other country into the base currency.
Frequently Asked Questions
- Expense Management Software is a financial solution used to automate the analytical business approach for handling the cost of processing, paying, and auditing business overheads and governing business spending. From raising requests for traveling and spending money on business needs to performing analytics for eliminating expense-related frauds, an expense management system can manage it all end-to-end!
There is a cycle including a chain of processes that makes up expense management. The steps that an automated expense management software follows to streamline business expenses are in the following order:
- Employee logs expenses
- Submits expense details
- Gets approved/rejected
- If accepted, reimbursement done and reports prepared
- If rejected after digital audit trail, seeks justification for policy violation
- Cycle continues
Travel and Expense Management Software are cutting-edge solutions with a wide range of features to make the lives of HRs and finance professionals easier and more efficient. A few main features of the software are as follows:
- Multi-user functionality
- Travel policy compliant
- Receipt auto-scanning
- Email-receipt forwarding
- Expense auto-categorization
- Expense itemization
- Mileage expense recording
- Pay card integration
- Auto report creation & submission
- Expense theft control
- Automated approval workflows
- Advanced expense analytics
Besides making the expense management process faster, easier, and more effective, the software also proffers a gamut of other advantages such as:
- Enabling seamless collaboration
- Facilitating faster reimbursements
- Eliminating risk of delays & errors
- Providing a secure database
- Offering better transparency
- Simplifying reporting and analytics
- The stepwise technique to implement an automated expense management system is quite simple. First, you have to understand your viable options, do your research, and be prepared. And once you get past the expense software selection, the next stage is to take a demo of all the chosen software. Then, the final option needs to be customized as per your business needs. You can now train your employees and hand it over to pilot the expense management functions. After the expense software is up and running, don’t forget to take valuable feedback from the users and make changes based on the same within the software implementation timeline.
- HROne is a highly flexible and scalable HCM suite. As far the company size is concerned, there is no bar. The software grows as the company expands. So, be it MNCs or SMEs, HROne can cater to the needs of a user-base as small as 30 to as large as 3,000. Businesses that have a fully-functional HR department usually prefer using our intelligent and enterprise-ready expense management module to make the intricate processes easier and more efficient.
The best features of HROne are the ones that help businesses manage their budget and even bring profit to the organization. Some of the prime expense management features include:
- Process mechanization
- Seamless integration
- Flexible expense policies
- Paperwork elimination
- Online reimbursements
- Expense data recording
- Auto receipts and records
- Fair and accurate payout
- Not only does HROne offer real-time receipts and reports for approval through both web and mobile, we also enable approval of exceptional expenses which are not covered under the expense policies (flexible). Moreover, the user can tag customers and projects with expenses to generate bills and trace costs. Lastly, the smart diagnostics or check runs by the system in real time flags any discrepancies or suspicious activity.
- Employee self-service or ESS is the best way to make employees feel engaged and empowered. HROne’s impeccable mobile app lets employees perform important expense-related functions on their own. Some of the tasks include: Raising reimbursement requests on the go, Geo-tagging and geo-fencing to ease travel reimbursements, one-click receipts and bills upload for approval, Options like ‘Quick Mileage’, ‘Quick Amount’, ‘Create Report’, and ‘Expense Advance’ help in processing faster expense reimbursements and eases overall expense management.
The secret recipe to an efficient expense management module of HROne is a strict adherence to the best practices such as:
- Defining Expense Policies
- Maintaining Expense Reporting
- Collecting Critical Expense Information
- Establishing Accountability
- Creating Expense Timelines
- Conducting Regular Audits for Fraud Detection
Why choose expense management software by HROne?
The expenses incurred by employees for your business work are unpredictable. The best you can do is set a policy and use a simple expense management software that gives you more control, real-time view of expenses while helping your employees keep a proper record of them.
At HROne, we are committed to making our users cut the extra expenses and time kill. While more than 50% CFOs say that misappropriation and fraud in their company is making them lose lacs, through our expense tracking software, we slack it to just the right amount your employees should get and you should pay, making it a fair proposition for all.
Our expense management system does this through a smart diagnostic check that spots fallacy, converts the amounts in any currency, fixes export time for old claims and a lot more.
Don’t continue to lose lacs and and crores of your money annually like the 50% other CFOs! Invest a little and save more than you think. Fill the form to begin your journey to better HR and administration now!