Integrate Expense Management Software
Integrate expense management software into the PeopleSpheres platform to simplify your expense management reimbursement requests by connecting your accounting service with the bank.
Your connected tools
Set up tools to process expense reports from PeopleSpheres.
Vertical Expense
Lucca (Cleemy Expense Report)
Jenji
Expensya
TravelPerk
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Be informed in real-time with notifications as soon as one of your employees submits a reimbursement request on whichever expense reporting software you are utilizing. Analyze business expenses by customer or project and go completely paperless by exporting data to the accounting service. Leverage the connectivity of management solutions with the PeopleSpheres platform, such as the communication between the expense management and accounting software that makes it possible to easily manage and pay all types of expenses, including:
- Business meals expense
- Business travel expense
- Mileage allowances
- Other travel expenses
Simplify expense management for employees
Enter and register reimbursement requests and receipts online with expense distribution by type. The reimbursable amount is automatically calculated and the reimbursement process is sent via email to the manager. Consult expenses records at any time and track the approval process. How does it work?
Just like the digitalization of payslips, the digitalization of expense reports makes it possible to limit the use of paper. Employees only have to scan or take a photo of the receipts with their smartphone which gives them access to the expense report management software. On the easy-to-use software, employees simply have to record the reimbursement requests and expense reports by type (transport, meals, etc.). They can easily add a comment or an attachment directly to the expense report form via the mobile application. The expense report request is automatically sent to the manager by email, then the employee receives a notification of validation or refusal. If the employee needs to know where the refund request is, he can consult his expense history at the expense report software at any time. The cloud-based software integrates and communicates perfectly with the PeopleSpheres HR platform solution, thus streamlining the employee experience and increasing employee satisfaction.
Empower your managers to keep track of employee expenses
Easily manage expenses by integrating expense management software that allows managers to validate or reject reimbursement requests and automatically notify their decisions to employees. Managers can consult and analyze expense records by processing period, expense type, employee, or analysis focus (client, project…). They can punctually or permanently delegate the rejections or approvals of reimbursement for business expense requests, if absent. The management system allows managers to get a clear overview of expense management and reimbursement requests through dashboards and summaries.
Optimize expense management for HR professionals
Accelerate and simplify reimbursement request management and involve your employees in the expense management process with our HR platform. Define reimbursement methods according to the type: real fees, real caped fees, flat fees, or mileage scale. Manage expenditure ceilings and get automatic alerts when expenses incurred that exceed the authorized ceiling. The expense management system also offers multi-currency entry including the exchange rate that is daily updated.
With the mobile app, the processing of your expense reports will be faster than ever since your employees will be able to manage the expense directly on their mobile devices. The expense management solution allows you to connect company bank cards in order to process expense reports quickly and efficiently, you only have to define the repayment terms by nature, such as capped fees, actual fees, etc., and reimburse your employees in a single click. By grouping the expenses of your employees by project or by month, you facilitate the management of expense reports by the project.
Upgrade your HR management
Optimize your expense management processes, save time, and reduce expenditures by controlling and administrating all expenses efficiently by tracking expense evolution. Increase your profitability by making your ROI faster and more visible.
Easily set up a company policy on expense and reimbursement and track your employees’ expenses. Assign employees maximum billable amounts that cannot be exceeded depending on the type of expense. Analyze your expenses on the dashboard with detailed reports and easily export your data to the accounting system. Not only does PeopleSpheres connect expense and accounting, but with our configurable platform, you can also connect your payroll software. This way employees can receive timely reimbursements right to wherever they receive their pay.
Expense Management Software Buyer's Guide
What is expense management software?
+Expense management software is a digital tool designed to streamline and automate the business process of expense report creation, submission, approval, reimbursement, and analysis. It allows employees to record expenditures they’ve made (for example, on business travels or client meetings), and submit them to their managers for approval. By digitizing receipts and automating the approval process, these tools simplify expense tracking, reduce errors, and ensure policy compliance.
Furthermore, they provide valuable insights into spending patterns, helping companies make informed financial decisions.
The benefits of expense management software
+Streamlined expense reporting
Expense management software significantly simplifies the process of expense reporting by offering an organized, digital platform for employees to log and track their expenditures. It eliminates the need for manual entry and the storage of physical receipts, thereby minimizing errors and saving valuable time. Employees can efficiently capture expenses, whether they’re travel-related or everyday business costs
Improved expense policy compliance
Through the implementation of customizable company expense policies within the system, such software ensures better adherence to these policies. It can automatically flag any out-of-policy expenses, thus maintaining transparency and reducing the risk of fraudulent claims.
Efficient reimbursement
The use of expense management software expedites the reimbursement process. Once an expense is approved, the system can automatically initiate the reimbursement to the employee’s account. This not only results in faster payments but also reduces the administrative burden on the finance team.
Key Components of an Expense Management Software
+Expense Submission and Approval Workflow
Expense management software comes with a streamlined workflow for the submission and approval of expenses. Automated expense approval workflows simplify the process, ensuring expenses are promptly approved and reimbursed.
Employees can directly submit their expenses into the system where managers or authorized personnel can review and approve them. This workflow can be customized according to the company’s policies, helping to maintain consistency and transparency throughout the expense approval process.
Receipt Capture and Scanning
One of the essential features of expense management software is receipt capture and scanning. With this feature, employees can use their smartphones to snap pictures of their receipts, which are then automatically uploaded and digitized by the software.
This eliminates the need for physical storage of receipts and makes the process of expense submission more straightforward and efficient.
Expense Tracking and Reporting
Expense management software has robust tracking and reporting capabilities. It keeps track of all expenses and generates comprehensive reports that provide insights into spending patterns.
These reports can be tailored to show information that is most relevant to the company, such as expenses per department, per employee, or per project. This aids in data-driven decision making and cost optimization.
Integration with Accounting Systems
Expense management software also offers seamless integration with existing accounting systems. This facilitates real-time updates and data syncing, eliminating the need for manual data transfer between systems.
By integrating with an accounting system, the software ensures that all financial data is consistent and up-to-date across all platforms, thereby enhancing the accuracy of the financial reporting and auditing processes.
How much does expense management software cost?
+Pricing Models
Expense management software can be priced according to a variety of models. A common approach is the per-user pricing model, where the cost is based on the number of users who need access to the software.
Another common pricing model is the feature-based model, in which costs depend on the functionalities required by the business.
There are also vendors who offer tiered pricing models, allowing businesses to select a package that best suits their needs. Some companies may provide a basic version of their software for free, with more advanced features available for additional cost.
Factors Affecting the Cost of Expense Management Software
The cost of expense management software is influenced by a number of factors. These include the size of the company, the number of users, the complexity of expense management processes, the specific features required, and the vendor chosen.
For instance, larger companies with more employees may need more advanced features such as multi-currency support or integration with complex accounting systems, and these features may come at an additional cost.
How to choose the best expense management software
+Assessing Your Organization’s Needs
The first step in choosing the right expense management software is to thoroughly evaluate your organization’s needs. This involves understanding the nature of expenses that your business regularly incurs, the size of your employee base, the complexity of your expense approval workflows, and any specific compliance requirements.
If your company frequently deals with multi-currency transactions, for instance, you might need a software that supports currency conversion. From small businesses to large enterprises, expense management solutions offer a paperless, efficient way to track employee expenses, report expenses in a format that’s easily integrated with accounting systems like Intacct or ERP systems, and ensure billable expenses are accounted for with approvals and invoices. Identifying your specific needs will help you delineate the must-have features in your ideal expense management software.
Integration with Financial Systems
Seamless integration with existing financial systems is another critical factor to consider. Your chosen expense management software should be able to sync data with your accounting and payroll systems, thereby ensuring consistency and accuracy of financial data across all platforms.
If your organization uses a specific accounting software, ensure that the expense management software is compatible with it. This will facilitate real-time updates, eliminate the need for manual data entry, and thereby reduce the risk of errors.
User-Friendly Interface
Lastly, it’s important to choose a software with a user-friendly interface. This means that the software should be easy to understand and navigate, even for those who are not tech-savvy.
Look for software that makes it simple for employees to capture and submit expenses, and for managers to review and approve them.
Additionally, consider whether the software offers a mobile application, as this can enhance convenience and encourage timely expense submission. With PeopleSpheres, all your HR tools can become mobile-friendly through our platform.
Emerging trends in expense management software
+AI-Powered Expense Analysis
Artificial Intelligence (AI) is increasingly being adopted in expense management software, bringing about a transformative change.
AI-powered expense analysis can automatically categorize and analyze expenses, identify trends, and detect anomalies. This not only helps in identifying spending patterns and forecasting future expenses, but also aids in detecting potential fraud by flagging unusual expenses.
Moreover, AI can learn over time, improving its accuracy in expense categorization and analysis, thus making the process more efficient and insightful.
Blockchain for Expense Transparency
The blockchain technology, known for its decentralized and secure nature, is percolating into the field of expense management. Blockchain can be leveraged to create a transparent and immutable record of all business transactions, including expenses.
Each expense can be recorded as a block on the blockchain, providing a transparent trail of financial transactions. This can significantly reduce the risk of fraudulent claims and ensure enhanced compliance with company policies.
Plus, the use of smart contracts can automate the approval and reimbursement process, making it faster and more efficient.
Mobile Expense Submission
The trend of mobile expense submission is on the rise, prompted by the increasing need for convenience and speed in the modern business environment.
With mobile applications, employees can instantly capture and submit their expenses from anywhere, at any time. The apps typically allow users to take pictures of their receipts, which are then automatically uploaded into the system, eliminating the need for manual data entry. This not only makes the process of expense submission easier and quicker but also facilitates timely reimbursements.
Additionally, mobile applications can send push notifications to remind employees to submit their expenses, ensuring that no expense goes unreported.
Why choose an expense management tool through PeopleSpheres?
+As a PeopleSpheres client, you have a single point of contact for all our partners, including those responsible for implementation, account management, and the support center. This simplifies communication and ensures that you always know who to reach out to.
Additionally, there’s only a single contract covering your entire HR ecosystem, making contract management significantly easier. Billing is simplified too, with one global invoice for all services.
You have the convenience of a single interface to access to any expense management system you choose with one username and password.
We guarantee the maintenance of all integrations, ensuring that your systems are always up-to-date and working seamlessly together. Lastly, you get the same price that you would if you went directly to the partner; we add no additional costs.
The benefits of a paperless expense management
- Save time
- Facilitate communication between employees and decision-makers
- Simplify the processing of sorting and archiving expense reports (thanks to the automation of alerts and notifications)
- Reimburse your employees in one click
- Stay in compliance (receive reminders of compliance, digitized legal expense reports)
- Inform/be informed in real-time with alerts and notifications
- Reduce your environmental impact
- Import your expense reports using the mobile app
- Export your expense reports using the mobile app
- Interactivity between PC/mobile/tablet
- Avoid losing your employees’ receipts
Optimize the management of your expense reports
The expense report is a document or invoice allowing your employees to be reimbursed for their professional expenses. These professional expenses can be of different natures: transport, dinner, accommodation, etc. The employee wishing to be reimbursed must however prove that these expenses are professional, that the amount respects the ceilings defined by the company, and obtain justification for such an amount.
There are many other regulations concerning expense reports. With numerous rules and laws, it can be complicated to be informed of all of them and know how to apply them. PeopleSpheres allows you to always be in compliance with the various existing regulations.
Save time managing expense reports
Managing expense reports can take a lot of time: re-entering the data, photocopying the various invoices, filing them, making the reimbursement decision, and choosing the reimbursement amount… According to a 2017 Opinion Way study, managing a single expense report requires 27 minutes. PeopleSpheres helps you save that time by automating expense report management. With PeopleSpheres, your employees only have to take pictures of the various invoices they wish to be reimbursed on. All you have to do is accept or reject the expense report. Choose the reimbursement method so that your employees are reimbursed as soon as you have accepted their requests. When managing expense reports, it is possible to encounter various problems, such as:
- Lost expense reports or receipts
- Unreasonable expenses, given the circumstances
- Invalid expense reports
All these points are avoidable with rigorous administrative management. However, careful expense management takes a lot of time. PeopleSpheres helps you in the management of expense reports. For example, our platform allows you to set up ceilings to avoid errors in expenditure. Don’t worry about losing any more supporting documents as they will be stored automatically, and access statistics and dashboards to keep control over budgets.
The digital management of expense reports essential to the company
Managing expense reports is an important task since it can represent a certain budget for companies. It is therefore important to choose a management tool that will help you manage your expense reports efficiently and simply. Our tool, PeopleSpheres, offers your employees the opportunity to gain autonomy and be more responsible in the management of their expense reports.
Advantages of Integrated Expense Management Software
For employees
- Request reimbursement on expenses directly on your computer or mobile device
- Track the validation process in workflows of expense reports
- Receive automated calculations of reimbursable expenses
- Get alerted in case of refusal or validation of expense report requests
For administrators
- Define reimbursement conditions by type
- Create alerts for any large expense exceeding your expense policy
- Leverage automatic recoverable VAT calculation
- Grant advancements on specific costs
For managers
- One-click validation or rejection of reimbursement requests
- Monitor and track request history on dashboards and summaries
- Report on expense reports by period, category or analytical axes
- Delegate the validation/rejection of expense reports in the event of absence
Intrasipa Group creates a common space for more than 350 brands and 6 legal entities
After accumulating multiple HR tools throughout the years, things got so complicated that employees often bypassed the system altogether, going straight to HR staff with their questions. At the same time, there was a strong desire among employees to feel connected to each other and to the company as a whole.
Discover how Intrasipa found a flexible and personalized solution with PeopleSpheres.
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