Current processes for approving and reconciling expense reports is cumbersome costing businesses valuable time and money. In addition, the level of commercial card data they have to work with when dealing with expense reports cripples their ability to expedite let alone automate any part of the process. Workflows must be simple, quick and accurate delivering both time and cost savings.
The number one problem with companies both big and small when dealing with manual expense reports are “lost receipts”. No more copying, tapping or losing those paper receipts with Xpensable, now your mobile application lets employees use a smartphone camera to capture and attach a receipt to their expense report. Xpensable makes it simple for employees and managers to complete all expense reporting tasks on their smartphone.
Xpensable's extraction of information and expense categories puts an end to manual entries for those reconciling reports. Managers can review, approve and reimburse all within their mobile banking app or online banking portal.
Employees can capture their expense receipts using your bank's app. It even works offline. Tap to send, and done.
Say goodbye to lost or faded receipts
Submit to managers for approval before accounting
Capture mileage expense automatically using your GPS
With original receipts captured and stored, accounting and business owners can easily access them for taxes, budgets and more….
Approve/reject reports in seconds
Access original receipt images for full visibility
Sync receipt data with accounting software
With essential workflow capabilities, Xpensable streamlines the small tasks that consume your time, freeing you up to focus on what's important.
Jim is a road warrior for his company. He must track his expenses and store all receipts while using his company's commercial card.
He spends hours per week putting spreadsheets together from his collection of receipts packed in his wallet. Many times he is late with submitting his spreadsheet reports with accounting department is constantly on him because of it. It is frustrating for both Jim and the company.
Jim saves so much time with Xpensable. With one click, an expense report is created and all the correct information is submitted. Finance is happy because they can quickly reconcile Jim's expenses right within the Xpensable portal accessed via online banking.
Kathy is in charge of finance of a mid-size company. She manages all expense reporting review and reconciliation submitted to her by employees. Lost receipt or late reports are a constant problem.
Kathy spends 4 full working days out of a month doing “arts and crafts” such as collecting paper receipts and extracting data into a spreadsheet and reconciling. Errors on the submitted reports as well as missing receipts. Many times employees get reimbursed weeks after submitting reports.
All submitted expenses are now in digital format, now what use to take days she can do in couple hours. She can easily and quickly review and reconcile expenses. In addition, Kathy adopted commercial cards for employees to use versus their personal cards. With Xpensable, she can now pair transactions with the digital receipts for easy export to PDF and seamless syncing with her accounting system.
Todd, a construction manager, manages multiple construction sites having to travel each week. He generates 40-50 expenses a month and reviews 80-200 expense reports a month from employees. He then sends the reports in an envelope full of receipts, to accounting for final approval.
Todd uses Excel, paper, scotch tape and a copy machine to create his own expense reports. He also has to review expense reports handed to him by his employees. This process impacts his productivity and it could be weeks before he and his employees get reimbursed.
Todd can enjoy a mobile experience of creating and managing his expenses from his mobile device. He can also quickly review and approve reports he receives wherever he is. His employees are happy because of how easy it is to create and submit reports and how quickly they get reimbursed. All thanks to their bank.
Create new revenue streams from increased interchanged revenue on commercial card usage
Create “stickiness” by storing your business customers expenses and receipts within their online banking portal paired with commercial card transactions
Acquire new accounts by putting your brand on a product that solves real problems for businesses