Employee Expense Management Software lets you track, audit and report on expenses claimed by employees, departments or projects.
- · Automate Expense Claim Processes
- · Allow Employees to Submit Expenses
- · Reduce Manual Errors
- · Track and Monitor Expenses
- · Standardise Expense Policies
- · Generate Reports
Softworks Employee Expense Management Software is a powerful tool that eliminates the laborious and costly task of manually collecting and processing paper expenses.
Allow your organisations to track, audit and report on expenses claimed by employees, departments or projects. Reduce the time spent in submitting expense sheets and speed up the reimbursement and approval process.
Benefits of Employee Expense Management Software
Expenses Types
Travel Expenses
Predefined multi-currencies – For the business traveller, predefined multi-currencies ensure there is no loss in exchange rates.
Defined limits – Ensure staff do not exceed set limits for specific expenses by establishing and defining limits or allowances.
Mileage Expenses
Captures mileage bands – Capture various mileage bands and rates and calculate the expense accordingly. Limits can be entered for particular employees and reports generated to highlight any exceptions to mileage limitations.
Meal Expenses
Automatic data capture – Reduce processing time by applying fixed expenses e.g. for employees who receive a daily fixed meal allowance or subsistence.
Project Expenses
Tracks billable expenses – Ensure projects do not exceed budget by using Softworks to keep track of billable expenses on a per project basis. Expenses can be easily viewed, approved, and amended.
Frequently Asked Questions
What is employee expense management software?
Employee expense management software is a tool designed to streamline and automate the process of managing employee expenses. It helps organizations efficiently track, review, approve, and reimburse employee expenses, providing a centralized platform for expense submission, review, and reporting.
How much does the employee expense management software cost?
Softworks pricing is determined by the size of your organization, with a one-time implementation fee. To get a quote, please click here.
How long does it take to implement employee expense management software?
The duration of implementing employee expense management software can vary depending on factors such as the complexity of the organization’s requirements and the size of the workforce. It includes activities such as software setup, data migration, customization, testing, and training.
To get an estimate – Contact Us!
Can employee expense management software provide Reports?
Yes, Softworks employee expense management software provides robust reporting capabilities.
It can generate various reports related to expense tracking, reimbursement status, expense categories, spending patterns, and more. These reports provide valuable insights into employee spending, help identify cost-saving opportunities, and support financial analysis and decision-making processes.
What types of expenses can be tracked?
Softworks employee expense management software can track a wide range of expenses, including but not limited to:
– Travel expenses (e.g., airfare, hotel, meals)
– Transportation expenses (e.g., mileage, car rentals)
– Meal and entertainment expenses
– Office supply expenses
– Conference and training expenses
What is the process of expense submission and claim?
With Softworks Expense Management Solution, employees can enter their own expense details into the system, attach digital copies of receipts, and submit expense reports for review.
The system includes workflow functionality, enabling managers to approve or reject submitted requests directly within the system.
This automated process reduces manual errors, increases accuracy, and speeds up the reimbursement and approval process.
Can employees submit paper receipts?
Softworks Expense Management Solution eliminates the need for paper-based systems.
Instead, employees can capture expenses digitally by attaching digital copies of receipts or invoices to their expense reports. This eliminates the need for employees to submit paper receipts and streamlines the entire expense management process.
How do managers approve expenses?
Managers can approve expenses within the Softworks Expense Management Solution using the workflow functionality.
They can review expense reports, verify compliance with policies, and either approve or reject the expenses directly within the system. The automated workflow ensures efficient approval processes and reduces the need for manual handling of paper-based expense approvals.
What We Do – The Softworks Story…
From Time and Attendance Tracking to a complete Workforce Management Solution…
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Take the first step towards a complete workforce management solution. Talk to us today!
Streamline HR & Empower Staff with Employee Self-Service Software
Softworks’ Expense Management Software is a crucial part of our comprehensive Workforce Management (WFM) platform, and plays a central and strategic role in achieving efficiency and budget compliance.
We help your organisation meet its budgeting goals by effectively managing your most valuable assets—your people and your financial resources.
Using our natively integrated WFM solutions, you’ll gain real-time visibility of budget-spend to help inform management decisions that save time and money while ensuring every project stays in control of its budget.
Softworks’ Solutions for Every Organisation
With over 35 years of dedicated experience, Softworks has created powerful solutions that go far beyond merely tracking spending.
We designed our platform for rigorous cost control, supporting high employee satisfaction, while maintaining strict budget compliance. Our Expense Management software provides the invaluable insight needed to make informed decisions and successfully reach demanding organisational goals.
Our solutions are expertly engineered to make a positive and measurable difference in the working lives of your employees, their managers, and the organisation as a whole.
Garnering Organisational Trust
For over three decades, Softworks has been a trusted partner, enabling organisations worldwide to:
- Streamline their processes
- Significantly increase productivity
- Reduce costs through superior scheduling/rostering management
- Optimal utilisation of workforce resources.
We achieve this by offering flexible, highly intuitive solutions that cover key areas, such as:
-
- Time & Attendance
- Scheduling/eRostering
- Flexible & Remote Working,
- HR
- Absence Management,
- Project Tracking
- Expense Management
Our fully integrated approach allows organisations to effectively drive profound efficiencies while ensuring robust compliance and significantly reducing errors. Through improved reporting capabilities, our Workforce Management Software promotes a safe and positive working environment for all employees.
Building your Business for the Future
Our unwavering commitment is to ensure you gain a decisive competitive advantage, both today and well into the future.
Effective management of employee expenses in modern business operations is a critical component of overall financial health and operational efficiency.
Softworks’ Expense Management Software is a powerful digital tool specifically designed to eliminate the notoriously time-consuming and costly task of manually collecting and processing paper expenses.
Instead, we provide an advanced, centralised system to meticulously track, audit, and report on expenses claimed by individual employees, specific departments, or defined projects.
Manual Expense Systems are Inefficient
Historically, organisations have struggled with the deep inefficiencies of manual expense processes.
The traditional, outdated workflow involves employees collecting fragile paper receipts, meticulously filling out complex spreadsheets, and submitting them through an often-arduous, multi-stage approval chain.
This deep reliance on outdated methods is incredibly time-consuming and fraught with potential problems and financial risks:
High Administrative Burden
Manually processing expenses consumes valuable staff time that could otherwise be dedicated to more strategic and value-added activities.
HR, payroll, and line managers can spend up to 80% of their time on such costly administrative burdens.
This is not only highly inefficient but also diverts focus from core business objectives.
Prone to Errors
Manual data entry is inherently susceptible to significant human error, frequently leading to incorrect calculations, financial discrepancies, and ultimately, a detrimental lack of trust in the system.
The sheer volume of data often stored in paper files or disparate spreadsheets makes spotting patterns or correcting errors nearly impossible, leading to a significant loss of productivity and money.
Lost Receipts
Paper receipts are easily misplaced, causing frustration for workers who face delays in Employee Reimbursement, or even face non-reimbursement.
This causes a range of headaches for accounting departments who attempt to reconcile disparate expenditures without an auditable paper trail.
Lost receipts can damage employee morale and create unnecessary internal friction.
Lack of Visibility and Control
Without a centralised, automated system, it’s almost impossible to gain a clear, real-time overview of company expenditure. This critically hinders informed decision-making and proactive cost control, leaving organisations vulnerable to unexpected budget overruns.
Our Expense Management software offers a clear overview of real-time budget balances, which is particularly valuable when projects span across diverse departments or complex projects.
Delayed Reimbursement
Slow, manual approval processes and manual calculations lead directly to delayed reimbursements, negatively impacting employee satisfaction and potentially causing significant financial strain for staff.
This ultimately affects employee morale and engagement, which are crucial for maintaining a productive workforce.
Transform Expense Management into a Single, Efficient Process
Softworks’ Expense Management Software is expertly engineered to directly address the persistent challenges discussed above.
Our integrated system transforms disparate expense management processes into a single efficient, transparent, and strictly compliant process that profoundly benefits both employers and employees.
By automating key employee management tasks, including expense processing, Softworks enables managers to “do real work” rather than being consistently bogged down by unnecessary administration.
Automation for Expense Accuracy
Our vital automations offer a significant stride towards improving information accuracy, increasing employee engagement, and liberating valuable HR and management teams to fully focus on strategic initiatives.
Our solutions empower your organisation to transition from being merely a business cost centre to a true profit driver by optimising operations and reducing hidden costs—potentially shaving anywhere between 5% and 20% off an organisation’s costs.
The immediate and measurable benefits of adopting Softworks Expense Management Software are clear:
- Significantly increased accuracy in financial reporting
- Enhanced productivity across the workforce
- Improved adherence to regulatory compliance
- Greater control over overall company expenditure
Fostering Job Satisfaction and Loyalty in your Workforce
The profound advantages offered by Softworks’ Expense Management software contribute directly to fostering a more positive work environment, ensuring employees are reimbursed accurately and in a timely manner, which ultimately fosters greater job satisfaction and loyalty.
By successfully creating a culture of undeniable fairness and complete transparency, our solutions help attract, retain, and motivate employees, allowing businesses to meet dynamic customer demand in a flexible and effective way.
Streamline Your Process with Expense Management Software
Maintain your competitive edge and foster high employee satisfaction by streamlining your operational processes.
Softworks Expense Management Software completely revolutionises your expense processes, moving them from cumbersome manual functions to a seamless, automated workflow.
This deep transformation means more than simply digitising forms; it’s about embedding efficiency, robust accuracy, and stringent control into every step. This helps ensure a smoother, faster, and much more satisfying experience for everyone involved.
The Benefits of Softworks’ Expense Management Software
Our software focuses heavily on comprehensive automation, benefiting everyone involved in the expense management cycle in the following ways:
Effortless Employee Submission & Receipt Capture
Employees can finally say goodbye to tedious paperwork and the constant worry of lost receipts. Our intuitive digital tools—accessible via our user-friendly Mobile App or web interfaces—enable staff to effortlessly capture and upload their expenses.
With a simple click, they can snap a photo of a receipt using their smartphone camera, input necessary details, and submit their claim digitally. The system is specifically designed to securely hold scanned images of receipts, completely eliminating the need for physical paper documents.
Significantly reduce the time employees spend submitting expense sheets, and free them to focus on their core responsibilities while increasing their overall productivity. Our automated Receipt Capture functionality ensures essential documentation is never lost again.
Automated Reimbursement and Approval (Approval Workflows)
Once expenses are submitted, the software takes over, automating the Employee Reimbursement and approval process.
Our software automatically calculates reimbursable amounts based on predefined rules, and with native Policy Enforcement, the system reflects your organisation’s unique requirements.
How our Expense Management software works
Completely eliminate the need for error-prone manual calculations and free up managers by providing automated alerts for pending expense requests.
They can then review and approve expenses digitally from anywhere, ensuring a swift and streamlined process that dramatically reduces delays.
This efficient Approval Workflow dramatically reduces the time managers spend on administrative tasks, allowing them more time for “real work” and strategic planning, rather than constantly chasing approvals or verifying data.
This entire process is key to achieving Automated Expense Reporting.
How Automated Expense Reporting Impacts your Bottom Line
The direct impact on time and cost savings from this automation is substantial:
Significant Time Savings
By eliminating manual tasks associated with expense management, employees and managers save considerable time that can be strategically redirected to more value-added activities.
This includes less time spent collecting receipts, filling out forms, chasing approvals, and manually inputting data.
Our Workforce Management solutions are demonstrably proven to reduce administrative work across various employee management tasks , making operations significantly more efficient.
Reduced Administrative Overhead
The automation of expense claim processes leads to a dramatic reduction in administrative overhead, translating directly into tangible cost savings for the organisation.
The improved accuracy in data collection delivers considerable company saving through a faster execution process and turnaround of expense workflows.
This actively helps prevent “cost creep”, often resulting from frequent time and attendance and expense tracking errors, or missing and incorrect time punches.
Minimised Errors
Moving decisively from paper-based systems to a fully automated solution dramatically reduces manual errors. Substantially increase your Finance department’s accuracy and improve overall efficiency and productivity.
This is absolutely crucial for accurate financial reporting, rigorous tax compliance, and avoiding costly discrepancies that can lead to financial penalties or employee dissatisfaction.
Greater Cost Control and Spend Visibility
Our Expense Management software provides enhanced Spend Visibility and critical control over all company expenditure.
This includes closely monitoring categories like travel and entertainment, which are often among the largest expense categories for businesses.
By providing real-time data and comprehensive reports, our system allows organisations to make informed decisions to optimise cost management and proactively prevent budget overruns.
Managers can work strictly within predefined budget allocations and identify spending trends, ensuring responsible and strategic spending.
Seamless Integration with Payroll (Accounting Integration)
A key advantage of Softworks Expense Management Software is its seamless Accounting Integration with existing payroll systems.
Approved expenses can be automatically transferred to payroll, ensuring accurate and timely Employee Reimbursement.
This vital integration eliminates manual data entry, further reducing errors and significantly improves the efficiency of your entire financial ecosystem, from the initial expense submission to the final payout.
Expense software to enhance the employee experience
Beyond the purely financial benefits, our Expense Management Software significantly enhances the entire employee experience.
Prompt and accurate reimbursement is a fundamental employee expectation and a key factor in overall employee satisfaction. By simplifying workflows and ensuring timely payments, organisations demonstrate a clear commitment to supporting their workforce.
This fosters a positive work environment, enhancing employee satisfaction and engagement. Garner happy, well-compensated employees who are more likely to be productive, loyal, and fully engaged in their work, thereby strengthening the overall organisational culture.
Key Features of Our Expense Management Software
Softworks Expense Management Software is built as a robust and highly intuitive solution, equipped with a comprehensive suite of features designed to provide complete control, total transparency, and unparalleled efficiency over your organisation’s expenditure.
These features integrate seamlessly to transform your expense management process into a genuine strategic advantage. We make expense logging and reimbursement substantially easier for everyone from individual employees to senior management.
Here’s a closer look at the key features that make our solution stand out:
Customizable Expense Policies (Policy Enforcement)
Our flexible software allows organisations to define and strictly enforce customised expense policies. This helps any organisation align their expense policies precisely with their internal guidelines.
At the same time, our software helps ensure your organisation complies with regional external regulatory requirements, such as federal employment standards and tax regulations.
These detailed policies can:
- Specify eligible expense categories
- Set strict spending limits for different types of expenses (e.g., meals, travel)
- Establish unique Approval Workflows for different departments, roles, or project types
This highly bespoke customisation capability guarantees consistency, fairness, and crucial compliance across all expense claims, significantly reducing the risk of non-compliant spending.
Easy Expense Submission & Receipt Capture (Mobile App)
Employee convenience is always at the forefront of our design. This is why our software provides intuitive interfaces and Mobile Apps, making it exceptionally easy for employees to submit their work-related expenses.
They can quickly capture receipts using their smartphone camera, drastically reducing the risk of lost paperwork. Employees can also categorize their expenses accurately, adding detailed notes, and providing all necessary supporting documentation, ensuring accurate and complete expense submissions.
This user-friendly approach minimises employee frustration and strongly encourages timely submissions.
Additionally, we can integrate OCR Technology (Optical Character Recognition) into your Expenses workflow, streamlining the Receipt Capture process, automatically reading key data fields from the receipt image to enhance the Automated Expense Reporting.
Automated Policy Validation
To actively mitigate risks and ensure continuous compliance, our software automates policy validation during the expense submission process.
It instantly checks each expense claim against predefined company policies and immediately flags any violations or exceptions in real-time.
This permits instant correction by the employee or prompt review by a manager, significantly reducing the risk of non-compliance, fraudulent claims, and potential financial liabilities.
Efficient Approval Workflows
Our system establishes highly streamlined Approval Workflows for Employee Reimbursement, effectively eliminating bottlenecks and costly delays.
Approvers receive automated notifications via email or within the system’s Action Manager. From there, the approver can review expense claims digitally from any location and make timely decisions within the defined policy framework.
Our hierarchical workflow authorisation also enables supervisors to easily edit, authorise, and analyse expenses alongside holidays/paid time off (PTO) and overtime, all on one screen, greatly enhancing management control and efficiency.
Real-time Expense Tracking and Reporting (Spend Visibility & Audit Trails)
Gaining deep, actionable insights into spending patterns is crucial for strategic financial management.
Softworks provides:
- Real-time Monitoring: Continuously monitor expense trends, identify patterns and control costs. Gain insights into where your money is being spent as it happens, providing deep Spend Visibility.
- Comprehensive Reports: Generate a wide array of reports quickly and easily, which are useful for management information, tax compliance, and essential Audit Trails. These reports transform raw data into actionable intelligence.
- Detailed Breakdown: Generate reports by individual employee, department, group, or project, providing granular Spend Visibility into expenditure across different organisational segments.
- Billable Expenses Report: View the number and value of billable expenses generated by your employees. This critical report helps ensure all eligible costs have been charged back to customers, preventing revenue leakage while maximising profitability.
- Project Cost Tracking: Keep track of billable and non-billable expenses on a per-project basis, ensuring projects do not exceed budget. Managers can instantly compare actual hours and costs against planned time. Ensure projects stay on track financially.
- Historical Data Access: Enjoy “unlimited ‘on-line’ data storage”, allowing management to access previous records to project and plan for future expense requirements and spot historical trends. Significantly improve forecasting accuracy, logging every transaction while building meticulous Audit Trails.
Seamless Integration with Core WFM (Accounting Integration)
Softworks Expense Management Software is a fully integrated module within our comprehensive Workforce Management suite.
This means it works in harmony with:
- Time & Attendance: Accurately link time spent on projects or tasks with associated expenses, ensuring complete cost allocation.
- HR Management: Utilise employee profiles, job titles, and tenure to ensure expense policies align with overall HR strategies and employee benefits.
- Project Tracking: Maintain full control over project costs and expenses from inception to completion, linking expenses directly to project budgets and progress.
- Corporate Cards: Reconcile expenses made using Corporate Cards against submitted receipts and validated policy rules.
This integration ensures a unified platform for collecting, managing, communicating, and acting on all workforce information and financial events, eliminating costly data silos and inefficiencies.
Compliance & Security
We are deeply committed to protecting your sensitive data and ensuring regulatory adherence.
Softworks Expense Management software, as part of our WFM platform, helps organisations meet their statutory duties to accurately track and report on expenses.
Our entire platform is ISO 27001- and ISO 9001-certified, guaranteeing that our information security practices meet the highest international standards and comply fully with GDPR. This provides peace of mind that sensitive employee and financial data is protected through data encryption, secure storage, and robust access controls.
Our system is vital for compliance in countries like Canada, where federally regulated employers are obligated to reimburse work-related expenses, with penalties for non-compliance ranging from $500 to $6,000.
Scalability
Designed to support organisations of all sizes, our software is highly scalable to comfortably accommodate increasing data volumes and complexity as your business naturally grows.
This means that our expense management solution evolves seamlessly with your needs, avoiding the necessity for frequent system changes and costly upgrades in the future.
Client-Centric Project Management and Support
Our commitment to unparalleled client support ensures a smooth transition to Automated Expense Reporting. We assign each Softworks client with an experienced Project Manager who works closely with the organisation to capture all institutional work rules and ensure the software is accurately configured.
This meticulous approach ensures that all your work policies and pay rules will be fully automated when your WFM goes live, ensuring your benefit from time saved from day one. You’ll also notice reduced administrative burden and instant access to all accurate information in one easy-to-use system.
We Put the Customer First
Our dedicated Customer Care Team provides ongoing, one-to-one support, ensuring the system’s short- and long-term success. Softworks’ commitment to client satisfaction ensures a smooth transition to Automated Expense Management the moment your new system goes live.
Our meticulous approach, combined with our robust features, means that our Expense Management Software is not just a tool, but a strategic asset that:
- Drives efficiency
- Ensures compliance
- Enhances financial control
- Provides invaluable Spend Visibility across your entire organisation.
Invest in Softworks’ Expense Management Software
The decision to invest in Softworks Expense Management Software is a strategic one that offers a clear and measurable return on investment.
We empower your business to:
- Operate more efficiently
- Ensure robust compliance
- Significantly reduce costs
Ultimately, our software helps cultivate a positive working environment for your most valuable asset – your people.
Ask for a Demo Today
We invite you to explore how Softworks can fundamentally transform your approach to expense management, bringing about lasting positive impacts on your organisation and employees.
To experience firsthand the transformative potential of our solutions, we encourage you to Book a Demo with our expert team today!
