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Employee Expense Management System Report
#1

Employee Expense Management System


.docx   1Employee Expense.docx (Size: 301.1 KB / Downloads: 60)

Purpose:

Employee Expense Management is a simple-to-use, browser-based solution that can automate and streamline the reimbursement process, help enforce corporate policies and capture expense-related data that can be turned into valuable business intelligence.The solution for employee expense management provides an opportunity to focus on your organisation's bottom line. It is quick to deploy and it can provide a rapid ROI. Using this solution leads directly to a reduction in 'maverick' expenditure (which can exceed 40% of total travel expenditure) by improving procurement processes and supplier negotiation. Employee expenses management will integrate with all our solutions, and has been designed to be suitable for both on-site deployment and hosted deployment.

Scope:

There are Four basic Users :

Administrator,Manager,Employee,Backup Admin

Employee Expense Management System will provide the following functionality to the Organisation
o Voucher Entry : Screen for entering expense vouchers for any reimbursable expenses borne by the employee. A voucher should have one header and multiple lines providing detailed information of expenses incurred along with amounts

o Multi-level workflow : Based on the Employees department and designation, the vouchers should flow to his supervisors for their approvals. The number of approvals required will vary according to total amount of the voucher and approval limits set for supervisors.

o Case Management : Every voucher should start a new process instance (case). Managers should be able to view vouchers waiting for their approval in their Inbox by logging in to the application. Employee should be able to track progress of his vouchers .

o Draft Vouchers : System should provide the ability to save incomplete vouchers and submit them for approval later after completion

o Rejection flow : At any point in the workflow, managers should have the option of rejecting any voucher stating appropriate reasons. Rejected vouchers should come back to the Employee, who is then allowed to change details on the vouchers or provide additional information required for the approval.
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#2
The expense management refers to the systems deployed by a company to process, pay and audit the expenses initiated by the employees. These costs include, but are not limited to, expenses incurred for travel and entertainment. Expenditure management includes the policies and procedures governing such expenditure, as well as the technologies and services used to process and analyze the data associated with it.

Software for managing claims, authorization, audit, and reimbursement processes can be obtained from organizations that provide licensed software, an implementation and support service, or, alternatively, software-as-a-service (SaaS) providers. SaaS providers offer on-demand web-based applications managed by a third party to improve the productivity of cost management.

The automation of expense management has two equally important aspects: the process followed by an employee to complete a claim for expenses (for example, registering a hotel receipt or submitting mobile phone records) and activity accounts or financial personnel commit to process the claim within the financial system.

Typically, a manual process will involve an employee completing an expense report with paper, spreadsheet, or graphical user interface that is then forwarded along with relevant tax invoices (receipts) to an administrator or other controller for approval. Once the manager has approved the claim, it will be forwarded to the account department for processing. The account staff then key each item of expenses into the company's financial system before submitting the claim and receipts away. In an implementation of Software as a Service, these processes are widely automated and the processes of sending and approval are done electronically.

Automation of expense management is the means by which an organization can significantly reduce transaction costs and improve management control by recording, calculating and processing corporate expenses. Independent research evaluating the use of automated expense management systems has confirmed that the cost of processing a claim for expenses is reduced as the level of automation increases.
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