According to market data, travel and entertainment (T&E) expenses account for between 8 percent and 10 percent of an organization's total operating expenses. In an effort to control these costs, companies are looking to automate solutions for tracking and managing, and hopefully reducing T&E expenses.
To assist in this endeavor, Infor recently announced general availability of Infor Expense Management 7.0, the latest version of its travel and expense management solution, which company sources say can reduce administrative costs, decrease errors and minimize occurrences of fraud.
New capabilities in Expense Management 7.0 include expanded options for mobile approval, which enables managers to quickly sign-off on employees' expense reports through their mobile devices, a new portal user interface with enhanced personalization options, additional business rules and background processes to help companies enforce travel policy compliance, Web-based HTML timesheets and new configuration options.
Critical to controlling T&E expenses is the ability to identify spending patterns, reduce errors and prevent violations of company policy. Expense Management'sanalytics engine enables companies to utilize spending patterns to negotiate further discounts with vendors. Additionally, as an employee submits an expense report, the solution identifies policy violations to ensure the company only pays for sanctioned business expenses.
Infor Expense Management includes four core modules: travel plans, expense reports, payment requests, and timesheets. Each module features real-time policy notification, alerting employees to violations as they enter data and allowing them to enter explanations or correct data prior to submission. Each module also provides configurable workflow for alerting reviewers and obtaining necessary approvals, and triggered events such as the issuance of air tickets or the reimbursement of expenses.
For additional information, visit www.infor.com
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