Expense Management

Expense Management

Empower employees with easy-to-use expense tracking. Easily reimburse employees for incurred expenses and get control over business costs.

Businesses utilize expense management software to process, pay, and audit employee-initiated expenses. The software includes capabilities for employees to input expenses for approval through a XpenseCo application. Expense management software simplifies and automates a business’ expense entry, streamlines review, eliminates paper trail, and reduces administrative effort. XpenseCo software allows administrators to have full visibility of and track employee use of business financial resources, budget. Expense management software analyzes overall expenses, identifies cost-saving opportunities, and controls excessive spending.

To qualify for inclusion in the Expense Management category, a product must:

Speeding up processing and approvals while reducing administrative costs

Configurable Expense Policies

  • Business-specific expenses
  • Create and manage expense codes based on your client contracts.
  • Flat amount or rates
  • Set up expenses to be flat amounts or rate-based as per your business needs.
  • Tax ( GST ) calculation

Simplified Expense Tracking
  • Project expenses
  • Easily submit expense sheets from anywhere, anytime and associate them with project and clients.
  • Expense types
  • Track expense type, tax codes, currency, and more.
  • Estimates vs actuals
  • Get real-time visibility into actual spend by tracking against estimates.

  • Expenses In-the-now
    • Mobile expense sheets
    • Capture expense information and tag it to project and client anytime, anywhere, with or without connectivity, and sync data in seconds.
    • Real-time visibility
    • Mobile app allows for real-time submission of expenses with receipt attachments.
    • Reduce delays
    • Improve expense accuracy and eliminate submission and approval delays.

    • Intelligent Approvals
      • Configurable approval workflows
      • Create approval workflows specific to expenses to match your business requirements.
      • Intelligent routing
      • Validate expense data in real-time and route them in real-time to the right approvers.
      • Keep stakeholders informed
      • Include supervisors, project managers, clients, and others in the approval chain.
      • Alerts and notifications
      • Flexible alerts and notifications ensure your expense data is always accurate, on-time, and approved by the right people before costing and billing.

      Expense Allocations
      • Project & client expenses
      • Set up project and client specific expenses like travel, meals, flight, hotel, and more.
      • Expense budgets
      • Manage expense estimates by project and track actual expenses to easily compare them to the initial estimates.
      • Real-time expense attribution
      • Attribute expenses to project and clients in real-time to get to inform your decisions and other processes.
      • Expense invoicing
      • Include expense amounts as part of your invoices and share with customers for invoicing.

      Why Use XpenseCo Management

      Track travel expenses more efficiently —Allows companies and their employees to simplify the tracking and reimbursement of travel expenses. This type of software is particularly important for companies with a high number of mobile employees who travel frequently.

      Streamline expense management — The more employees travel, the more they spend on travel arrangements. While employees expect to be reimbursed as soon as possible, employers need to make sure that expenses comply with their travel policies and that they are approved before being processed.

      Reduce processing errors — Errors may occur when employees submit expense reports and when accountants process them. Manual work or accounting systems are not sufficient for expense management, which is why vendors created software specifically for this challenge.

      Define tax formulas to calculate tax amounts automatically.
      • Streamline Policy Application
      • Submitting Expenses during the travel
      • Lowering the Chances of Human Error
      • Easier to Negotiate and Keep Volume Discounts
      • Limited Enforcement of Compliance
      • Easier to Prevent Expense Fraud
      • Expense Management In Real-Time