Many small-to-midsized companies rely on time-consuming and costly paper-based processes to manage purchasing.
Companies with these traditional paper-based purchasing systems often have difficulty making strategic and timely purchases and holding suppliers accountable for transactions. Employee purchases frequently deviate from company spending policy, leading to lengthy order fulfillment cycles and over or duplicate spending.
Company approval workflows can be drawn out and costly if signatures are obtained by sending purchase requisitions, purchase orders and invoices to multiple office locations. Negotiating better pricing can be problematic because of difficulty tracking how much money is spent with whom.
ExpenseWatch.com’s automated Purchasing system is designed to keep you on budget and make purchasing process run smoothly. Everything is managed electronically, from purchase requisitions and purchase orders through to authorization for payment, reducing or eliminating the need for paper.
In one easy process you create a purchase requisition; associate scanned or faxed quotes and route it through the approval workflow engine. Email notifications are sent to all approvers, who can then approve or reject all or a portion of each item.
As purchase requisitions are created your specific internal policy controls are automatically applied. When you incorporate your company budget data into ExpenseWatch.com, you can generate real-time budget vs. actual reports that are as current as the latest entry. You gain complete visibility into company purchases—what’s been bought, and purchase requisitions and purchase orders waiting to be approved or paid – providing real-time access to the impact spending will have on your bottom line.
To ensure transactional efficiency throughout your organization, ExpenseWatch.com seamlessly integrates with QuickBooks (Enterprise, Premier and Pro). What’s more, ExpenseWatch.com is an open, non-proprietary expense control platform that provides you with the flexibility to integrate your expense management data with a wide range of other business applications. This allows your small or midsized business to create an end-to-end system to control, reduce and report on all company spending from when requests are made through to the posting of approved transactions into QuickBooks.
ExpenseWatch.com is by your side with implementation, training and support for all users to ensure your success. All of this capability is available for one low annual subscription. In fact, our pricing incents you to use us -- the more your company controls expenses with ExpenseWatch.com, the bigger the return on your investment.
Distinguishing Features:
Comprehensive
Purchasing is one of three modules offered through ExpenseWatch.com.com’s integrated expense management system, along with Expense Reports and AP Invoice Management. Each module can be subscribed to individually or as part of a fully integrated expense management suite.
Reporting & Analytics
As you use the system, you will quickly accumulate expense data, enabling you to easily report on and analyze company spending. A wide-range of pre-built reports are included and provide the detail most companies need. For more in-depth and customized reports, ExpenseWatch.com offers a Custom Reporting module enabling you to fully customize reports and dashboards based on any transactional data entered into the system or key metrics important to your business.
Policy enforcement
ExpenseWatch.com enables you to completely automate your spending policy and enforce it at the transaction line-item level. Exceptions to company policy are flagged for employees and their managers before spend occurs.
Flexibility
Controlling a business today requires flexibility without compromising compliance. ExpenseWatch.com is completely scaleable and configurable while maintaining all controls necessary to show compliance.
As a subscription-based service, ExpenseWatch.com grows with your business. It’s easy to add licenses, change your approval chains and update your spending policies.
What this means for you
ExpenseWatch.com easily integrates into your workflows, providing an intuitive user experience, while lowering your total cost of doing business.
ExpenseWatch.com is the only business management software that gives you complete visibility and control over all company spending – spending that has occurred AND spending waiting in the pipeline to be approved.