For most companies today, Expense Reporting is simply a mechanism through which to reimburse employees for out-of-pocket purchases and T&E expenses. More often than not, these expenses are run through standalone T&E systems and are not visible as “spend” within the enterprise Spend Management system.
Today’s best-in-class Spend Management solutions combine the best eProcurement AND Expense Management capabilities into a single, fully-integrated platform for managing, and more effectively controlling, all non-payroll indirect spending, offering the company instant visibility to all organizational spending as it occurs. Additionally, by incorporating Expense Management into a comprehensive Spend Management solution, Budget owners can quickly and easily drill down into real-time dashboard reports to understand which expense categories have the greatest amount of spend, where the money is being spent, who is helping the company save and who is spending too much.
CCP Global helps its clients to identify and address their top Expense Management issues and pain points, often including (but is not limited to) the following:
- Need to increase visibility into expense spending
- Need to improve compliance
- Need to reduce processing costs / time
In addressing these pain points, CCP Global and its partners will help its clients to build a business case for, and to successfully implement, a best-of-breed Expense Management solution that is integrated within a comprehensive Spend Management program and solution. Our Expense Management solutions will enable the following features and benefits for our clients:
- An easy and efficient way to prepare expense reports – Much easier to use than spreadsheets, gets you out from under piles of paper forms or receipts, and stops payment delays caused by chasing down approval signatures.
- Time-saving innovations and ease of use — employees will actually want to use the system and get their expenses in on time.
- Fully integrated within Spend Management solution providing a single platform from which companies can control all non-payroll spend, with 100% visibility.
- Extensive system controls and configuration to reflect unique policies and report requirements.
- Built-in business rules and expense thresholds that automate the expense reporting process to ensure proper approvals and accounting verification where needed, ultimately encouraging the right employee behavior.
- Improve “Spend Under Management” by moving more “after-the fact” expense reimbursement approvals into “pre-approved” purchases.
- Deep dive dashboards and benchmarks that provide a comprehensive, real-time view of expenses, performance and areas for improvement.
For more information about best-in-class Expense Management solutions, please Contact Us.