Features And Benefits BFC Expenses
In most organizations when employees have expenses to claim they pull out a paper expense report, fill in the appropriate information, staple the receipts to the back of the report, and then forward the report to their supervisor for approval.  The supervisor reviews the report, signs it, and then passes it on until the report has been fully approved at which time it is sent to AP.  AP reviews the report for policy compliance, keys the information into the AP system, and the employee is paid. This process can be cumbersome for a number of reasons.  Approvals can be very slow; especially when there is more than one location involved. This is frustrating for the employee and it is also an issue for the company because there are expenses in the pipe that the company doesn't know about. When the report finally arrives at AP, staff often have trouble keying the report into the system because coding on the report may be unclear - not to mention the fact that its a lot of work for AP to key in every expense report. BFC Expenses can help! Product Features Expenses are keyed by the employee Coding is edited at source Different expense categories are supported for ease of entry Local and federal taxes can be backed out Converts to local currency Compares expenses to company policy and highlights variations Employee can add comments to each expense line and the report Administrative staff can enter reports on behalf of others Required approvers are automatically filled in Approvals can be requested from individuals in addition to the required list Approvals are obtained serially so each approver knows who has already approved Approvals can be overridden in exceptional circumstances Approval status can be tracked online Approvers can add comments when they approve or reject Submitters are automatically notified of approval progress Expenses can be extracted and loaded electronically into the AP system Approved forms are available online for historic purposes Approval data is available online for reporting purposes Product Benefits AP keying of expense reports is eliminated AP can tightly control process Everybody is approving the same data so misunderstandings can be avoided A formal record of the approval is kept online where it can always be found Company approval policy can be strictly enforced Approvals can be viewed by anyone, anywhere, subject to security Approvers are encouraged to deal with requests quickly due to visibility Approvals which can take weeks in a traditional environment can be completed in minutes Requests don't get lost, no time needs to be wasted looking for lost approvals Product is easy to learn and use Product introduces a consistent expense management process across the company ASP Benefits No capital investment is required Search cycle is quick and less expensive Implementation is fast No hardware or software maintenance is required No disaster recovery planning is required No disk space management is required Support is readily available Pricing is scalable