3 Signs You’re Ready
to Upgrade
Project Expense Management.

1       Hindsight for Project Spend Visibility isn’t Cutting It.

Some project expenses are billable to clients while others are not. You may be leaving money on the table if you’re managing these allocations after expense reports are filed, approved, and paid. Manually allocating at the end of the process can result in missed expenses that should be billed to your clients. Likewise, overspending on non-billable project expenses hits your bottom line just as hard. Accurate project expense tracking – billable or not – is critical.

2       Processing Expenses within Policy Takes Just as Long as Exceptions.

Is your approval cycle for expenses within policy identical to the few that color outside the lines? This occurs when both processes are manual and automation speeds the process (by a lot!) while at the same time ensuring spend is within company guidelines. It might seem scary to let in-policy expenses flow through without review but a good expense management system lets you set spending rules as tightly as you need and can dynamically handle different spending scenarios.

3       Multiple People Perform Tasks Multiple Times Using Multiple Tools.

Again, manual processes are to blame. Companies often add several levels to double- and
triple-check accuracy and find mistakes. Ironically, each time a task is repeated it
increases the risk of an error.

Automation optimizes the overall workflow because it’s applied from an abstract perspective. It ignores what traditionally has been’ where and when’ a process is completed in favor of when it’s most efficiently done.  Look to automate as many processes as possible and centralize business rules from spend policies to approval routing; much of the rest will take care of itself.