Expenses. Everyone has to do them. It is simply spending that is required to make the business run, and encompasses everything from business travel to corporate card spending to stationary. Be it SME or enterprise, every business has to keep track of where it’s money is going, otherwise costs are waylaid or even fraud can happen.
The problem
All spending is different, as every company is different. A construction company will outsource a lot of its labour, so ensuring contractors are paid the correct amounts based on policy is key. Even hospitality will be completely different – there’s a lot more physical purchases made on a card as the business needs to be well stocked. And as every company is so different, so is their ways of conducting expense management systems.
It can often be an arduous time intensive process, especially if you are using an outdated method such as physically on paper, or even in an excel template. Often digital spreadsheets are mixed with copies of receipts and invoices. This is a pain to keep track of and document as it’s a confusing and intense paper trail.
It can also be made harder by the size of the company and employees location. Overseas spending will have different exchange rates, different requirements, different norms, so how on earth do you accurately keep track? If you are truly looking for your business to grow and develop, you need a smart automated expense management system that can grow and adapt with you.
Change is scary
Whilst it is good and all to talk about the pros of an automated expense management system, you may still be apprehensive about switching to a smart digital solution. This is because you may have old fixed business practises that you can’t imagine changing, or the idea of transferring old information online to create a comprehensive archive to be almost impossible, but that is not the case. Capture Expense can work with you to import all historical data making your life as easy as possible.
We also work with your current systems, not against them, having integrated Capture Expense with more then 50 different back-office systems and provided additional support for many others. So whilst you may be worried your current accounting system won’t integrate, have no fear. Capture Expense works with your accounting, payroll or other back office system, replacing any manual and repetitive tasks. Data integration is quick and accurate whether recording expenses within accounts or reimbursing staff via BACS or payroll.
Bank feeds generate card expenses automatically each month as we integrate with all major banks, alerting cardholders to review their expenses.
Just a few of the companies we work with are Tripcatcher, Azure, Oracle, Travelport, Financial Force, Quickbooks, Unit 4, Sage, Salesforce, Sap and Xero.
No need to import/export CSV files every month
No need to manually update spreadsheets every month. Capture Expense works directly using the Application Program Interface (API), meaning records and transactions are moved seamlessly without any manual intervention. Let technology work for you in the way it was designed.
Creating a single source
We can aggregate data from multiple sources and update multiple systems. For example retrieving Project and Costcentre records from Costing and Staff records from HR. Once an expense is fully approved we can generate a BACS payment as well update Accounting to record the receipt.
Mobile Expenses
You can even keep track of your expenses on the go with our mobile app. Simply use the mobile expense login (which you can even use SSO for an even speedier expense log) and snap a picture of your receipt. It will then be automatically processed and all the data can be used to automatically fill expense forms for easy submission and archiving of receipts.
Corporate credit card expense reporting
Easily keep a feed of both online transactions with company credit card and cash transactions using receipts. Cards can be added to your Capture Expense account so that any transaction is automatically added to your expense feed, meaning you just need to add an invoice.
Ever company is unique
It really is as easy as that. If you have any other doubts, feel free to send us a question. We will be happy to help, and we know that no one solution will fit all, so we can work with you to create a unique custom solution which works for you. You can add whatever tags you need, whatever categories you want, and unique company policies to ensure compliance.
Book a free trial today to see how easy it is.