Did you know that every expense report from your employees could take up to 30 minutes? This includes the time needed to collect, scan, create and finally submit the expense entry.
Modern expense management systems circumvent this by utilising optical character recognition (OCR). This technology converts printed or handwritten text in images or scanned documents into machine-readable and searchable digital text.
However, that does not account for more than 10% of such submissions being duplicated or non-compliant.
All these add up in organisations with decent employee size. It is obvious that good expense management is not a choice; it is what makes or breaks a company.
A good expense management software will help to reduce time spent on such administration, freeing up precious time for more productive work activities. It also gives management a more accurate picture of the company’s financial situation, which aids in making sound decisions and keeping capital healthy.
Evaluating the cost-effectiveness of business expenses can also help businesses better monitor and control their outlays for the trip’s many costs.
Cherry-pick what is best for your business
Imagine this situation: you’re hunting for the ideal pair of shades. What makes it the best pair? It’s a great fit, functional, and won’t break the bank. Choosing the wrong pair ticks off dissatisfaction with what you’ve got, offering no sense of practicality.
At the same time, organisations should also assess how well the product integrates with its current system and its cost, budget, and expectations.
It isn’t always the case that the more expensive option will solve the problem. Ultimately, it is the one that can solve your organisation’s unique challenge statement. In this article, we will explore the difference between Rolling Array’s Reimburse and the generic expense management software on the market.
Reimburse vs Other Expense Management Softwares
| Feature | Reimburse | Generic Expense Management Software |
| Integration with SAP SuccessFactors | Reimburse’s data structure is built for Employee Central, the core HR module in SF; hence, no external integration is required | Integration with SAP SuccessFactors may require additional setup and ongoing maintenance to maintain data flow |
| System Implementation | Any SF Partner with EC capabilities can sell and implement – all configuration screens are similar to those in the EC module, so no additional training is required for EC consultants to implement Reimburse | Customers may select either the vendor’s implementation team or certified implementation partners to implement the solution |
| Sales Cycle | Shorter as eClaims is a requirement that many HR teams need to manage, which means Reimburse can be bundled together with SF | It may be longer depending on the vendor’s sales process and integration requirements |
| Pricing | Typically, it is much more affordable, as licenses are based solely on the number of users; the number of expense reports is also lower. | Pricing may vary based on the number of users, number of expense reports, and other factors |
| Expense Claim | Yes | Yes |
| Travel Request | Travel managers can use Reimburse to manage travel claims, including support for advance disbursements and per diem structures | Travel managers can use the generic software to manage travel claims, including support for advance disbursements and per diem structures |
| Receipt Management | OCR technology eliminates the need for manual data entry and automates all processes of receipt capture and management in a central repository | OCR and AI technology can eliminate the need for manual data entry and automate receipt capture and management |
| Approval Inbox | Yes | Yes |
| Delegation Management | Yes | Yes |
| Petty Cash Management | Yes | Yes |
| Expense & Travel Administration Rules and Permission | Yes | Yes |
| Audit & Advanced Reports | Generate real-time actionable reports to monitor spending habits and guarantee compliance with built-in audit trails that flag claims violating predetermined policies | Generate near real-time actionable reports to monitor spending habits and support compliance with built-in audit trails that flag claims violating predetermined policies |
| Quick-view and flexibility | Reimburse is designed with a mobile-first philosophy, where users can interact with the claims systems, including scanning receipts in real-time and having their expenses automatically filled in with optical character recognition (OCR) technology | Users can interact with the software and use mobile or desktop devices to scan receipts in real time and have their expenses automatically filled in with OCR and AI technology |
| Integration Capabilities – Pre-integrated with SAP SuccessFactors | Complete functional and technical components that are pre-integrated with SAP HR (SuccessFactors) and SAP Finance systems | Integration with SAP SuccessFactors may require additional measures |
Why Reimburse?
One word: relief. Reimburse simplifies the often tedious and time-consuming expense management tasks, freeing us to focus on adding value to our organisation. It has become a trusted software implemented by well-established corporations.
Starpoints for Reimburse
Many chose Reimburse because it is pre-integrated with SAP SuccessFactors, making it an excellent investment for an organisation.
The standout feature of Reimburse is the “traffic light” attribute, which automatically helps eliminate duplicate and non-compliance expense approvals. This, along with features like Optical Character Recognition (OCR) and multi-language capability, sets Reimburse apart from generic software.
Reimburse over Other Expense Management Software: Affidavit from credible users.
These made people choose Reimburse over the generic software:
- Easily track and manage travel expenses
- Communicative process in dealing with expense approval and deposits
- The interface is easy to navigate and straightforward
- Efficiently manage employees’ expenses and requests.
- Simple and comprehensive
- Easy to download reports
- Managing all costs in one system across all organisations
There is no learning curve here, only a consumer-grade expense management system that caters to an organisation’s efficient and accelerated processes. Reimburse is designed to be straightforward and comprehensive, instilling confidence in its user-friendliness.
Conclusion
Reimburse offers better integration with SAP SuccessFactors, helping businesses generate and provide better spending reports. Overall, both alternatives are remarkable in their own right.
However, Reimburse validates promising features with far less cost than many other expense management solutions. At the end of the day, Reimburse is an add-on that doesn’t require much maintenance and no extra effort to install, making it stand out.
Disclaimer: The views and opinions expressed in this post are those of the sponsor and do not necessarily reflect the official policy or position of Rolling Arrays. The information provided in this sponsored content is for general informational purposes only. While we strive to provide up-to-date information, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability, or availability with respect to the products or services contained in this post for any purpose. Any reliance you place on such information is therefore strictly at your own risk. In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this sponsored content.
