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Progressive companies are turning more and more to web-based applications that automate travel expense reporting in order to achieve cost reduction through process improvement and stricter control over spending.
Industry studies show that implementing expense management automation can reduce the cost of processing expense reports by 80%. HOV Services' T&E solution delivers further savings by controlling off-contract purchases that typically cost an organization 15-27% more for goods and services.
Reporting and Policy Enforcement
As a component of HOV Services accounts payable solution, the expense automation package offers users friendly web-based tool providing direct access to T&E spending analysis helping control excessive expense disbursements. Analysis can be focused singularly on individual expense reports down to the line items that compose those reports, and as groups defined by department or project. With this level of detail at your fingertips, T&E expenses can effectively be controlled, increasing your overall profitability.
Travel policy is enforced through the system through custom business rules. Administrators of the system can create rules by simply completing a form. From restrictions on hotel room rates to allowable car rental vendors, administrators posess the tools to formulate and enforce restrictions that can result in full return on investment in as few as three months of operation.
Features and Benefits
- Credit card and cash advance auto-population and reconciliation
- Support for accounting and multi-level organizational structure
- Automatic GL mapping
- Policy rules by organization unit, location, employee type, expense type etc.
- Support for projects with unrestricted breakdown structure
- Distribution of charges across multiple projects within single report
- Configurable workflow validation
- Multiple report formats, PDF, Excel, Text, XML, etc.
- 100% web-based
- Highly scalable
- Web server included
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