EXPENSE MANAGEMENT

Never let a pseudo-smart cookie try to outsmart you. Adopt Automation

There is this human psychology that follows me everywhere that when you add value to a work, the work is completed effectively and efficiently at a faster pace. You would have also noted the same. Say, for example, you are a freelancer; you take up work with advance payment, but you have not completed the work within the given deadline. Now reverse this scenario – you get paid the whole amount at the end of the project. You would undoubtedly be on your toes to complete the project at the given time or before the deadline. The value being the money is the motivating factor even though it is yours after the completion of the assignment.

Now let us take an example when an executive of your company is assigned a task through our TEZ ERP® software’s integrated AMC management module. When an executive is out on a call to resolve a customer complaint, he may have incurred expenses either on travel or some out-of-pocket expenses authorized as per his role.

When it comes to claiming his reimbursement, you would have experienced actions quicker than the execution of the real transaction. Most businesses face a pertinent challenge - Executives are prompt in claiming their travel expenses but lethargic in updating MIS.

Now here’s a catch – the executive may claim his expenses without submitting details of the same for that particular client or contract. This would mean skipping a process in the SOPs structured by your company.

Do you face this in your business?

We have addressed this in our AMC software through a simplified expense tracking and management for organizations by making the recording and approvals as smooth as possible.

This is am important feature of the software, wherein your executives need to log a detailed report to get their money reimbursed. The executive fills in ticket details along with expenses incurred, takes periodic print out of approved expenses and submits to the accounts department, and then the accountant will reimburse the amount based on approved tickets. The linking of ticket closure and updating of ticket status mandates the employee to complete his ticket status or service visit.

The detailed report provided by the executives helps the higher management in multiple ways:

  • It helps to control, monitor, and analyze expenses on a project, contract or customer.
  • It tracks the conveyance expenses claimed by the executives.
  • The evaluation process helps them to arrive at solutions and make decisions on the profitability of a particular contract or customer.

The Benefits of an Expense Management Feature in Helpdesk Module are:

  1. Facilitating expense management centrally and without any hassle.
  2. Fraud Detection, if any
  3. Tracks the workforce expenses efficiently
  4. Paperless Process
  5. Quick and Accurate
  6. Single Point, Secure System
  7. Customized reports to analyze and frame business policies
  8. Prevent Overspending
  9. Gain visibility into spends
  10. Centralized detailed records of every travel, approval, and reports.
  11. Expense Management - Report, submit and approve expense reports on the go

Our AMC tracks the history of expenses per contract and gives insights to the management to review the employee expenses. These determining factors help the business to get more profitable by regular analysis.

If you are in an industry where your company has multiple contracts to manage, and multiple executives on the fieldwork, call us now to understand how our AMC software can benefit your business. We love coffees over our demos, and we love your company too. So get in touch.

ExpenseManagement

TEZ ERP®

e-Business suite for SME

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