Top 10 Must-Haves for Expense Reporting Software

Aestiva Software's Top 10 list points out what you should look for when choosing an expense reporting software product for your company.

Torrance, CA (PRWEB) March 13, 2008 -- Aestiva Software's Top 10 list points out what you should look for when choosing an expense reporting software product for your company.

Top 10 Must-Haves for Expense Reporting Software:

#1 Visibility

Make sure your future expense reporting system has a high level of visibility; with information in a central location so that you can effectively track, manage and control organizational spending; and have data at your fingertips to research the most cost-effective options for future purchases.

The ability to share and compare information across departments or your entire enterprise is the key. Such visibility provides accountability that reduces rogue spending and helps prevent fraud while uncovering potential savings opportunities.

The "clear" benefits of visibility is why we rank it #1 on our list of top 10
must-haves.

#2 Training and Support

Before choosing an expense reporting product, investigate training and support options as well as any additional costs associated with support. There is no substitute for comprehensive training and support to ensure you are able to utilize all the benefits of your expense reporting software.

The provider you choose should combine effective training with end-to-end deployment support -- from the setup and pilot phases to the final roll-out of your expense management system.

#3 Flexibility

You want your expense reporting system to fit your business process, not the other way around. Flexibility means having the ability to customize and extend your product without complex and time-consuming programming.

Whether you want your electronic expense report to look like your current paper version or need custom modules and screens, make sure the software you purchase is flexible enough to meet your needs as they evolve. If it is not, you may outgrow your new system sooner than you expect.

#4 Optimized and Intuitive Data Entry

Any new automated system you implement needs to be quickly embraced by your end-users. If the system is not user-friendly, your staff may balk and return to using your current paper systems, which results in an unsuccessful deployment as well as wasted money and effort.

So, the expense report software you choose needs to be easy to adopt; it should allow end users to quickly and accurately enter data into the system. Having useful functions such as auto-completion which references past entries, and easy lookup tools that help complete an entry with a click, will also result in successful adoption of a system that should accelerate your request-to-pay cycle and start saving you money from the get-go.

#5 Robust Reporting Systems

Your expense data is a wealth of useful and important information. But if the data can't be accessed easily, what good is it? Reaping the benefits of your expense data begins with a robust reporting system.

An effective expense reporting system should allow you to quickly review data such as expense history, departmental expenses, and spending habits of multiple users as well as a wide range of other information that may be useful for decision making and cost-cutting.

Versatile reporting can also help you to produce quick answers to expense-related questions as well as generate reports for more in-depth expenditure analysis such as the patterns and trends of employee spending.

#6 Browser-Native Functionality

Browser-native. What does it mean? Browser-native software, such as Aestiva Expense Report, is installed on one server for access by all users, eliminating the IT hours needed for installing and maintaining software on each user's PC.

In addition to saving time, money and resources, browser native software is also more readily accepted by users due to its familiar interface.

Software with browser-native functionality allows organizations to manage expense reporting securely within their own intranet, or provide secure Internet access to it if needed.

There is no substitute for the convenience and cost savings associated with a browser-native software solution. This functionality is an absolute must for any multi-user expense reporting system.

#7 Proxy Login

A proxy login feature gives users the ability to access an expense reporting system on behalf of another user, yet have their actions logged under their own login ID.

The proxy user can be granted all of the privileges required to complete the tasks of the other user. Managers can assign back-up users the responsibility of completing tasks in their absence, without having to disclose their password. Without this proxy, users tend to share personal passwords, bypassing system security.

This nifty feature sounds simple, and it is, yet it's indispensable for the security and auditability of your system.

#8 Policy Adviser

Do your users know your policies? An expense reporting software with a built-in policy adviser gives users convenient access to your policies and procedures, automatically alerting users to violations and mistakes in expense reports prior to routing them to the designated approvers. This feature also enables managers to set ceilings for certain expenditures such as daily meals or city-specific hotel stays.

Having policies stored in the system improves the timeliness and accuracy of expense submissions, ultimately leading to quicker reimbursements. You definitely need this feature available in the base package of any expense reporting software.

#9 Systems Integration Capabilities

Before purchasing expense reporting software make sure you are clear on your options for integrating the systems you have now as well as any you may plan on having in the future.

An effective expense management system has the capability to seamlessly integrate with other software systems you already have in place.

An integrated system can read-in information from a transaction provider (such as credit card expenses), and output information into other systems (such as payroll). Having systems integration as part of your expense reporting system allows you to automate your reimbursement process from start to finish.

#10 Sarbanes-Oxley (SOX) Compliance

The Sarbanes-Oxley Act is comprised of common-sense accounting principles implemented as a mandatory measure for public companies. Although private companies are not required by law to abide by the Sarbanes-Oxley Act, they may be able to benefit from the protection SOX-compliance can provide.

Aestiva Expense Report is SOX-compliant and includes enhanced reporting features as well as internal controls to help assure the accuracy of financial reports. Using software that is SOX-compliant is a proactive approach in dealing with important issues that may arise in the event of an audit.

For Information on Aestiva Expense please visit http://www.aestiva.com/expense
or call Aestiva at 1-888-AESTIVA (237-8482).

About Aestiva Software:
Founded in 1996, Aestiva serves over a thousand customers worldwide. Aestiva solutions significantly streamline and improve business processes. The company specializes in 100% browser-native technology that can be installed with limited or no IT overhead. Live web demonstrations are available by calling 1-888-AESTIVA (237-8482) or 1-310-697-0338.

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