Managing employee-initiated expenses is crucial for businesses of all sizes. These expenses, which include travel, entertainment, and third-party payments, can represent a significant portion of a company’s budget. Left unchecked, they pose risks such as security breaches, compliance failures, and increased administrative costs. Infor Expense Management offers a solution to these challenges by providing a comprehensive, automated platform to control and streamline expense-related processes.

Why Choose Infor Expense Management?

Infor Expense Management is a cloud-based Software-as-a-Service (SaaS) solution hosted by Amazon Web Services (AWS), ensuring superior performance, scalability, and security. It is designed to help businesses of any size manage employee expenses without the need for extensive IT infrastructure. By automating expense processes, Infor Expense Management reduces the chances of accidental errors and intentional fraud while minimizing administrative costs.

The system’s multi-language capability (available in 20 languages) makes it accessible for global operations, while its modular structure ensures it can be customized to meet a wide range of business needs. Infor Expense Management delivers fast implementation and lower ongoing costs, as the application is maintained and upgraded by Infor, reducing the burden on internal IT teams.

Key Features of Infor Expense Management

Infor Expense Management offers several modules to handle a wide variety of employee-initiated expenses, each designed to simplify different aspects of expense management:

1. Expense Reports: Automates the approval and reimbursement of travel and entertainment (T&E) expenses, enabling faster processing and better cost control.
2. Payment Requests: Streamlines and automates third-party payments initiated by employees, reducing manual effort and improving accuracy.
3. Travel Plans: Ensures travel compliance by allowing pre-trip approvals, helping companies control travel costs before they are incurred.
4. Time Sheets: Tracks both internally and externally billable time, ensuring accurate billing and payroll processing.

Automating Expense Processes with Advanced Technologies

Infor Expense Management goes beyond basic expense tracking by incorporating advanced features that automate and enhance the management of employee-initiated spending:

• Credit Card Feeds: The system integrates with major credit card providers like American Express, Visa, and MasterCard, allowing for seamless import of transaction data and easier reconciliation of expenses.
• Optical Character Recognition (OCR): This AI-driven technology captures data from receipts, eliminating the need for manual data entry. The OCR tool reads receipts with high accuracy and validates the information to ensure compliance and credibility.
• Digital Receipts: Users can scan, email, or fax receipts, and these can be stored and attached to expense reports. This feature improves record-keeping and reduces paper handling.
• Mobile Functionality: Infor Expense Management allows users to access the platform via mobile devices. Employees can create and approve expense reports, capture receipts, and manage their expenses from anywhere, providing flexibility and improving productivity.
• Birst Analytics: Powered by Infor’s business intelligence platform, Birst, the system provides operational reporting and analytics that allow businesses to manage, plan, and forecast expenses with greater accuracy. Real-time data helps prevent poor spending decisions and ensures compliance with internal and external policies.

Compliance and Security

Infor Expense Management ensures that businesses remain compliant with various regulatory requirements across different regions and industries. The solution helps manage complex regulations, such as the Bribery Act 2010 and the US “Sunshine Act,” by automating reporting processes and ensuring full transparency.

As an AWS-hosted platform, Infor Expense Management also benefits from the security infrastructure of one of the world’s most reliable cloud providers. With AWS’s next-generation cloud security, businesses can be assured that their data is protected from both physical and cyber threats. Features such as auto-scaling and elastic load balancing enable Infor Expense Management to adjust to business demand, ensuring performance and availability even during peak times.

Global Reach, Local Flexibility

Infor Expense Management’s ability to handle multiple currencies and support international taxation ensures that it is capable of managing expenses across different regions and countries. Its global compatibility means that businesses can implement it on a global scale while tailoring it to meet local statutory and policy requirements.

In addition, the system’s integration capabilities with backend systems allow businesses to synchronize expense data with financial, HR, and payroll systems, ensuring seamless operations.

Benefits of Infor Expense Management

By adopting Infor Expense Management, businesses can enjoy several key advantages:

• Improved Compliance: The system enforces spending policies and alerts users to any violations, ensuring adherence to company and regulatory rules.
• Reduced Administrative Costs: Automation reduces the labor required for managing expenses, freeing up resources for more strategic tasks.
• Faster Processing: Automated workflows and approval processes accelerate reimbursements and reduce processing time.
• Increased Transparency: Real-time data and analytics offer greater visibility into spending patterns, helping businesses make informed decisions.
• Enhanced User Experience: With mobile access, users can manage their expenses on the go, making the entire process more convenient and efficient.

Conclusion: Streamline Your Expense Management

Infor Expense Management is a powerful tool for businesses looking to streamline their expense-related processes, improve compliance, and reduce administrative overhead. With its advanced features, global capabilities, and robust security, it provides a comprehensive solution for managing employee-initiated expenses efficiently.