Expense Data Integration with Finance and Accounting Systems
While an automated expense management system can ease life for business travelers, it can also do wonders for finance and accounting departments. Not every expense system has this capability, hence you need a platform that can integrate with the finance and accounting system.
Finance and accounting features
Finance and accounting team is responsible for paying taxes, recognizing revenue, entering sales, tracking invoices, and authorizing approvals. For the most part, data is the key and the more data they have, the easy it becomes for them to manage. Expense management solution should easily integrate with all major systems.
Integration with key systems
Expense systems should support financial system integration, corporate card integration. With this integration, you can overcome a lot pain points such as:
Tedious manual process
Eliminating manual process will reduce the scope for error and boosts speed & efficiency across the board.
Delayed reimbursements
Employees can’t wait too long for reimbursements due to faulty approval process or compliance issues. Integrating expense solution into the system will not only let travelers check their status, but also can guide them to follow the policy while making bookings and submitting expenses.
Lack of visibility
Accounting and finance departments face difficult time getting an accurate view of company spending. They are forced to look after each expense report to get clear picture. Integrating expense solution with finance system will provide all the information required for assessment and planning.
Paper trail
Instead of dealing with papers, automated solutions move everything online. From expense report submission to custom reports, every task can be done online without the need to dealing with paper.
Expense report solution integration with finance and accounting systems can increase accuracy, save time and boost employee satisfaction. Turn to automated solution and see how it will transform your processes.
