Improving your bottom line through reducing expense reporting costs
Many companies across different industries face a common problem in this economy. The main question is “How can we grow in a shrinking market?” In companies today, large investments and product developments are carefully undertaken; furthermore, the general attitude is to not heavily expand operations or output. As a result, many companies are just too afraid to invest into potential revenue generating projects or products. So how can they improve their bottom line while remaining profitable within their current operations? The answer is quite simple. Instead of expanding operations in this tough economy where people’s spending is heavily reduced, focus on managing your expenses effectively and keep them as low as possible.
This can be done one of two ways. The first method is to increase your accounting department’s manpower and workload. The second easier method is to buy a comprehensive expense management product.
This sounds simple, but the truth is that there are few, if any, expense management products out there that are transparent about what they offer and what they charge. Oftentimes, this leads to businesses who wish to automate their expense management business processes to pay high rate fees towards a product they’re not fully comfortable with yet.
With web2expense TE, we promise that we will always be clear about what we offer and what we charge. Everyone is welcome to sign up for a Free Trial (90-day period / 3 whole months) in order to feel fully comfortable that our product is what you, as a business, are looking to buy. Additionally, our prices are listed here. Our lowest price is $5 per user/per month, not many in this industry are so open to displaying their prices, but then again, we’re not them are we?
So try us out, see if you like our product, and we’ll do our best to help you out with any problems or questions you may encounter. For help or more information please visit www.web2expense.com, call us at +1-866-WEB2EXP, or send us an email at support@web2expense.com
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Smart business and the challenge of staying successful
All businesses wish to succeed. Smart businesses understand that success is achieved through costs being kept low, and business processes running smoothly. Businesses of all sizes are constantly looking for that elusive ‘competitive edge’ through automating tasks that would otherwise require hours of work and effort. One of those tasks is expense management.
At this point you may be asking yourself, “I already automate my expense management through using XYZ expense management software, why should I be worried about changing?” The reason is quite simple, how can one ever be sure that one is receiving the ultimate value? In idleness, businesses are missing out on better products, and new opportunities to use those better products and services that would otherwise allow them to gain a new undiscovered edge.
This is where web2expense TE comes in. I can sit here and type all day about all of the points that make our product better. However, that will probably not entice you to try our software. Instead, ask yourself this, “Can I afford to miss this opportunity? Am I so successful that I do not need to look at any alternative solutions for automating travel expense management?” And with this I leave you to make your choice.
What is an “Expense Report”? What are my options in dealing with them?
An expense report, whether it is related to Travel and Entertainment (T&E) or not, represents a different type of financial document than any other type of procurement that your company performs. Generally, companies and organizations have special departments or personnel dedicated to purchasing goods and services. When it comes to T&E expenses, however, companies must rely on their employees to implement the most efficient way to handle this financial transaction. Considering T&E expenses is the second largest employee expense category (after payroll). As a result, the task cannot be taken lightly.
First and foremost, the financial document called an “Expense Report” is not just an ordinary document. Expense reporting represents an enormous business process. It starts with an employee’s requirement to travel to a destination for a specific business purpose and it ends with the payment of those travel expenses to either the employee or the credit card company.
The complexity of this financial process creates a hassle for most companies, including even the largest enterprises. A simple expense report, if done properly, requires the following information:
- Integrating travel budgets with expense authorizations and allowance payments
- Creating itineraries with per diems
- Creating invoices with multiple line items and invoice images
- Calculating mileage expenses with approved IRS rates
- Managing manager, executive and accounting department approvals before and after the trips
- Integrating expense line items with projects for customer accounts
- Electronic receipts to comply with company and IRS expense policy rules and regulations
- Integrating expenses types with the vendors’ accounts
Implementing an on-premise financial business process of this magnitude requires many costly software components working hand-in-hand to produce that one simple “Expense Report.” These solutions create an overhead on every expense report that your employees create.
web2expense TE is a revolutionary expense reporting software that addresses all of the issues aforementioned. It is a state-of-the-art solution offered as a service as opposed to an on-premise solution. All that our tool requires is a web browser and nothing else. To sum it up nicely, we obsess about expense reporting, so you don’t have to.
For more information call us at 1-866-WEB2EXPENSE or send us an email at support@web2expense.com.
