Scalable Expense and Reimbursement Management

Expense management software is a digital solution that automates the tracking, submission, approval, and reimbursement of expenses for businesses of all sizes. It helps a business ensure compliance, oversee expenses, and provide insight into spending patterns.

A business expense can be anything an employee pays for related to their job. Expense management pertains to every task involved in ensuring these expenses are properly handled and paid back. The right expense management solution saves a company money, reduces mistakes, and improves efficiency.

Expense management automation streamlines the tasks associated with tracking, submitting, approving, and reimbursing expenses within the expense management process.

Here are a few quick steps for how it works:

1. Employees submit expenses via an expense management system
2. The system captures invoice data via optical character recognition (OCR)
3. The system checks expenses against company policies
4. Expenses are automatically routed to approvers
5. Automated notifications and alerts are sent 
6. Real-time tracking of expense reports
7. The system calculates the amounts owed
8. Multi-currency payment processing for reimbursement
9. An audit trail is created, documenting every step
10. The system generates reports and analytics.

Tipalti is an end-to-end provider of advanced expense management. It can assist you with tasks like receipt scanning (to capture expense data), spend tracking, approval workflows, corporate cards, policy enforcement, and multi-currency support.

Automating expense reimbursement offers some key advantages for small businesses and large enterprises alike, including:

• Time efficiency
• Accuracy and compliance
• Improved visibility and control
• Enhanced experience
• Mobile accessibility
• Ease of use for business travel

Through expense reimbursement software, companies can streamline expense management, reduce costs, eliminate data entry, simplify travel booking, and enhance accuracy, contributing to greater efficiency and employee satisfaction

The best way to facilitate expense reconciliation is to keep detailed records, implement internal spend controls, and take advantage of intelligent expense management tools. The right software offers advanced functionality like in-depth analytics and payment reconciliation reporting.

Tipalti is accounting software that helps businesses cut through manual expense filing and reconciliation challenges, accelerating monthly close by up to 25%. Tipalti’s expense management platform helps streamline employee expense reports and strengthens financial controls.

Tipalti’s user-friendly system reduces your team’s workload by automating payment reconciliation, enforcing policies, consolidating business spend, and seamlessly integrating with your ERP.

Traditionally, creating an expense report and reviewing it for compliance, accuracy, and relevance was a manual process. Today, the best expense management software, like Tipalti, takes care of the grunt work. 

Expense report automation simplifies receipt management. Systems like Tipalti help a business manage spend in a single, all-in-one platform. This helps businesses scale rapidly, facilitates expense management, eliminates policy violations, and reduces risk. 

A mobile expense management app allows employees to automatically create and submit reports, which managers can then quickly review and approve.

Automating the various steps in the expense approval process includes:

1. Receipt capture (remote and mobile features)
2. Submitting expenses and filing an expense report
3. Checking policies and flagging discrepancies
4. Routing for approval based on specific criteria
5. Parallel approval paths for multiple approvers
6. Approval notifications 
7. Integration with other accounting systems
8. Real-time tracking of the expense approval status
9. Generating an audit trail 
10. Reporting and analytics tools

By leveraging expense approval software to automate these steps, businesses can reduce manual efforts, improve compliance, and expedite the overall process.

Tipalti’s robust global payment infrastructure enables finance teams to efficiently reimburse employees, no matter where they are in the world. 

It facilitates expense reimbursement and enables managers to review and approve employee expenses easily via the mobile app. As a result, finance can quickly reimburse employees internationally.

The Tipalti solution enables expense payments to 196 countries in over 120 currencies using 50+ payment methods. It streamlines travel and expense management for companies of all sizes, from startups to enterprise corporations.

Spend control can be automated via expense management software, custom approval workflows, corporate cards, policy enforcement, integrations, analytics, and more. 

Tipalti Expenses enables customers to set spending limits within specific categories over defined time periods, ensuring meticulous budget control. 

Create multi-level expense policies per subsidiary. Promptly notify employees and approvers in case of expense policy breaches, providing clear details on the rule violated.

Tipalti currently integrates Visa, Mastercard, and American Express. Tipalti Expenses easily connects with Visa and Mastercard networks and integrates with external corporate cards, allowing businesses to integrate banking with employee transactions and gain full control over corporate card management. 

Companies can upload receipts, provide coding, and reconcile to an ERP. They can also manage the card and reimbursable spend through the mobile app and Tipalti Hub.