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 approvals can be drawn out and costly if signatures are obtained by sending documents 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 requisition through to authorization for payment, reducing or eliminating the need for paper.
Purchasing is one of three modules offered through ExpenseWatch.com’s operating expense control system, along with Expense Reports and Invoice Management. Modules fully integrate or stands alone offering best-of-breed functionality. The usability-tested interface ensures fast user adoption with little or no training and support.
In one easy process you create a purchase requisition; associate scanned or faxed images and route it through the workflow engine. Email notifications are sent to all approvers, who can then approve or reject all or a portion of each item.
Corporate spending policies are automatically enforced across your entire business and compliance issues are addressed. Incorporating prepared budget data enables you to generate real-time budget vs. actual reports that are as current as the latest entry. This allows you to analyze company spending from macro to transactional detail, make critical financial decisions before money is spent to prevent budget overruns, and more.
To ensure transactional efficiency throughout your organization, ExpenseWatch.com seamlessly integrates with QuickBooks (Enterprise, Premier and Pro).
As an on-demand application, ExpenseWatch.com can be deployed into your organization quickly, without extensive upfront costs, ensuring that your company will see a rapid return on its technology investment. According to a recent report by Aberdeen Group, companies that have installed financial software-as-a-service applications are reporting implementation times of less than three months and ROI in less than six months.
ExpenseWatch.com is by your side with implementation, training, updates and upgrades to make sure that your organization achieves all the benefits the service offers.
All of this capability is available for one low subscription price. There are no hidden costs.
Distinguishing Features:
Comprehensive
Operating expense control means an end-to-end approach to controlling and reducing expenses that provides real-time visibility into all your financial data and processes in one seamless user experience. Unlike software that only addresses individual facets of expense control, ExpenseWatch.com won’t leave you with isolated clusters of data. Each module — Expense Reports, Purchasing and Invoice Management — offers a complete stand-alone solution and fully integrates in one comprehensive web-based system.
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.
Accountability
ExpenseWatch.com implements your financial policy by providing a clear, configurable hierarchy of authority governed by internal controls. This creates auditable, automated policy enforcement that increases accountability at every level in the approval chain.
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 to Sarbanes-Oxley and other regulatory requirements.
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.
Similar to how a customer relationship management tool provides complete visibility into company revenue, ExpenseWatch.com provides a comprehensive solution to control and reduce all operating expenses.