How Infor Expense Management Works

Infor Expense Management is one of the most configurable and flexible T&E (Travel and Entertainment) expense management solution in the market that a person can use to reduce drastically the costs of processing expense claims. It is available for deployment on premises or in the cloud allowing you to eliminate the manual process, get your employees enter expenses quickly from anywhere anytime and liberate your personnel. Expense management is normally a suite of 4 integrated applications i.e. travel plans, expense reports, time sheets and payment requests that can either be used individually or in a preferred combination.

Some of the aspects that the solution has includes: 

Expense reports– Infor Expense Management allows travellers to create and also manage expense reports when it’s convenient as it can be done through a tablet or smartphone. Reviewers can access the reports and attach supporting documents as soon as they get email alerts without having to log into the application.

Travel plans– it enforces corporate travel polices by verifying compliances before spending as employees make travel plans creating an easy and fast approval process. Travel plans can be attached to expense reports to compare actual versus planned expenses to increase accuracy of budgets that will be used in the future and enhance approval decisions.

Payment requests- Infor Expense Management also paves way for the accurate allocation and effective tracking of employment purchases made immediately often bypassing order process and bypass requisition as a result. This gets rid of duplicate data entry and also automates validation to make certain that requests are complete, accurate and charged to the proper project codes and cost centers.

Timesheets– simply and streamline creation of timesheets and enhances accuracy as employees are permitted to report general work/absence hours and project hours using up only a fraction of the time that would have been spent using paper based techniques. These results in a more efficient billing cycle as there are fewer errors and faster processing time.

Mobile device support- Infor Expense Management also permits employees to create expense reports using smart phones anywhere or other mobile devices anytime. Managers can also view and also approve the reports from mobile devices leading to faster response times, time savings and increased productivity.

Digital receipt management– employees can easily fax, email and attach receipts to paperless solutions. It can also automate analysis capabilities and incorporate alerts to help solve the problem of policy violation and also uncover any hidden opportunities for saving. The system alerts employees to violations while they enter data which allows them to offer explanations or make necessary corrections before submitting any expenses or plans. It also alerts reviewers obtaining necessary reviewers and triggering events like reimbursing expenses and issuing plane tickets. It also automatically analyzes data and looks for opportunities to change spending into saving.

Generally Infor Expense Management can help you to:

  • Reduce the cost of processing claims by more than half.
  •  Manage high transaction volumes economically and easily.
  •  Get rid of labor intensive, time consuming and mistake prone manual processes.
  •  Effectively and consistently enforce entertainment and travel expense policies ensuring regulatory compliance.
  •  Decrease dramatically the number of late expense claims as well as timesheets.
  •  Increase speed of reimbursement process.

Infor Expense Management  is a great solution you should consider.

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Brooke Nelson is the Lead Author & Editor of NetSweets. With more than 20,000 customers, NetSuite is a fascinating platform! It is the major player in ERP, CRM, and ecommerce.