Employee Expenses is one of the significant expenditure segment in many businesses, apart from compensation and vendor payments. Except for very large organisations, who have deep pockets and invested in a Travel & Expenses (T&E) application, the rest and most of other businesses, which is perhaps over 90% of businesses, have varying practices of Excel based claim form with bills attached for submission. These claims which move from them to their Manager in a physical mode and then on to the Accounts Dept. OR claims are in a completely physical process of a pre-printed Expense form to be filled in and bills attached OR no form to be filled and directly bills submitted to Accounts Dept for approval and payment.
In short, the extent of automation in Employee expenses is almost non-existent or very low in the SME sector
|Paper and manual process.||An online process with workflows and notifications & alerts|
|Longer Turnaround Time for approvals and reimbursements.||Significantly faster. All transactions and processes are visible online.|
|Inconvenient. Need to be in office to submit an expense claim.||Highly convenient. Can record expense anywhere and as and when they happen from any device viz mobile, tablet, laptop etc|
|Post facto expense approval.||Approved in advance. Travel plan with estimated expenses can be approved.|
|Tedious process- Expense claims, verification of bills, validating adherence to policy and settlement of claims is generally time consuming and takes a lot of effort.||Effortless process- As data is captured then and there and scanned bills can be attached there is full visibility for quick approval and payment of claims. All stakeholders are well addressed Management, Employee, Finance Dept and Approvimng Managers.|
|Accountant unfriendly and typically perceived as uncooperative.||Accountant Delight. Policy implemented through the software, all information and documents available, Manager approvals on record and Accounting journal/entries is automated.|
|Travel / Expense Reimbursement policy may not necessarily be well documented & to be managed manually.||Travel policy and rules can be embedded in the software viz per diem rate, mileage per kms in a two wheeler or a four wheeler, which class of fare ticket is applicable or city based limits etc.|
|Segregation of billable and non-billable expense calls for additional effort.||Information on Billable and non-billable expenses is readily available.|
|No spend analytics.||Amazing insight in expenses by groups, cost attributes, process efficiencies, trends, etc.|
|Difficult to have continuous improvement due to the opacity of intelligent expense information.||Exceptions are flagged, audit observations are tagged etc making it easy to improve either policy or drive process and people efficiencies.|
ResolvEx, attempts to provide an on cloud application, rich in features, which is affordable and scalable. It has a very high degree of configurational capability that can be applied to any of your diverse organisational needs.
All Employee expenses, be it Local Conveyance, sundry expenses, entertainment expenses, Domestic Travel or International Travel expenses can be recorded then and there as incurred. Configurable Expense line items to as much detail as you need including Laundry, Tips, Parking Fee etc.
Up-to-date information on Expense groups, Expenses by Division, Department, Project. Real time status on Travel & Advance requests, expense claims, payments etc. Setup Optional pre-approval process of Travel indent. Money spent on customer behalf can be tracked as a billable expenses too.
Real time analytics on costs by business purpose, be it Project related costs, Reimbursable billable costs on your customer, Departmental costs etc. Stay on top of processes and you can measure your own process efficiencies, chase any process bottlenecks in your efficiency endevour.
Stay on top of processes and you can measure your own process efficiencies, chase any process bottlenecks and sort issues then and there.
Bills, Receipts can be scanned from your mobile and linked to expense claims on the go. Originals may be submitted later for audit trail purposes at a convenient time.
Approval processes configured based on your organizational hierarchy, be it a single stage or mutli level approval process within one Dept or across more than one dept. Email notifications and alerts to track process movements.
Configurable Expense line items, roll up into Expense heads and into Expense Groups and the same mapped into your Accounting software. Cost Centers are also mapped. Be it Tally, SAP or Oracle ERP.
Your travel rules can be translated into the application viz Lodging rates per day, by levels, or class of Cities or per diem or mileage as Rs per kms for Two wheelers or four wheelers etc and be assured that the polices would be complied with. Exceptions, if any would be flagged off.
Any delays in either approval or deviations in policies or non-submission of claims or payments get automatically thrown up for managerial control and follow up with.
Please provide your contact info, we will get in touch with you.
What ResolvEx can offer?
ResolvEx is a world class business expense management platform which takes care of all your employee reimbursable business related expenses.
It provides complete visibility on who spends? For what? And is it complying with your business objectives? Offers a convenient way to update info from anywhere anytime.
It is designed keeping in mind Indian statutory requirement and process flexibility needs.
Provides convenient to your employees without compromising on your business information requirements.
Who can benefit by ResolvEx?
Those who are in need of timely expenses reporting or in need of capturing comprehensively the “quantitative” details either for internal cost distribution or for project cost allocation and billing needs or those management wants to keep a tab on process efficiency and process exceptions to redefine their processes and finally those who are concerned about their employees convenience of reporting and proper accounting and documentation.
What is going to be my initial investment?
Nothing. ResolvEx is a SaaS service where you are paying a month’s cost for a standard number of employees upfront with no hidden costs.
How long it will take to setup and run?
If you are ready with the processes to be followed, we can help you set it up in say three hours !! that’s it !!
How much it will cost?
Our Representative will get it touch with you. Be ready to be pleasantly surprised to avail a world class service at an unbeatable cost.
What if we want to exit?
Simple. Inform us and we will make it convenient for you to download all the process info in an excel along with all scanned copies stored by you in a world class data Centre in an organized manner.
All your accounting transactions are made available for you to download in your accounting system even otherwise.
Please provide your contact info, we will get in touch with you.