ExpenseNet® Services

ExpenseNet® Services 2018-08-22T15:37:14+00:00

More than just software.
No add-on modules to pay for or learn how to use.

We all know the real costs involved in business expense management occur behind the scenes. Only ExpenseNet offers an entire suite of expense management services, in addition to our automated expense management and reporting software.

Receipts and Receipt Imaging

Virtually all business expense management policies require users to submit receipts or other supporting documentation with their expense reports. The challenge is controlling this process and matching these receipts to the electronic record to ensure 100% compliance.

ExpenseNet offers the most complete, state-of-the-art receipt imaging and management services available. Receipts can be automatically matched to expenses for your approvers without having to require users to attach each receipt at the line item level.

Still have employees that don’t use their smartphones?
No worries, Users can submit receipts in a number of ways including:

FAXING IS STILL AN OPTION
Our fax-it-in service enables users to submit their receipts via fax with a total cost usually less than that of an envelope and postage for regular mail.

SCAN AND UPLOAD
ExpenseNet software allows you to browse and upload receipt images previously scanned and stored on their computer, tablet, or cloud storage.

SECURE EMAIL
We also offer a secure email option to ensure the security of your sensitive documents, for those that prefer to email.

MAIL-IT-IN OPITON
If email, fax, or scan options are not available to your users, we offer a “mail-it-in” option. Our staff will receive, prep, scan, and match incoming receipts to the respective expense reports for a small fee.

Expense Auditing Solutions

ExpenseNet ensures compliance, according to YOUR policies.

With the ability to be tailored to select those expenses and transactions most likely to require audit, our proprietary audit system is built to support each client’s unique business expense audit rules.

Best practices in audit usually recommend less-than-100 percent audit as an industry standard, so ExpenseNet audit service has the ability to select any statement that exceeds a dollar threshold, in total or by expense type; policy exceptions; specific users; random selection, etc. ExpenseNet’s highly configurable audit system can be tailored to your specific audit needs, with the criteria defined by you and configured into the system by our customer service team.

Auditing Features & Benefits

Sarbanes Oxley Compliance

Our highly developed audit system ensures compliance with the mandates of Sarbanes Oxley (SOX) legislation.

Customization

The levels of audit services can be tailored to your needs. And naturally, since you are outsourcing the work to ExpenseNet, separation of duties is not an issue.

Audit Services Reporting

Summary and detailed reporting documentation provides visibility to the number, percentage of audit exceptions including the specific reason and resolution.

Direct Resolution

Our proprietary audit system allows our ExpenseNet auditors to manage audit exceptions directly with users; resolving 90% of all audit exceptions, thus saving you time and leaving a small few remaining exceptions to resolve internally.

Payment Processing & Expense Reimbursement

Everybody in the expense management chain wants to get paid as quickly as possible. However, T&E and P-Card solutions have different needs when it comes to payment processing and expense reimbursement. ExpenseNet takes care of them both.

Travel and Entertainment (T & E) Expense Management

Our unique workflow engine enables electronic payment for out-of-pocket expenses to the user’s preferred bank account after final approval. In addition, we initiate payment to the corporate card for approved expenses paid via the card. You determine the schedule and we initiate an electronic payment accordingly.

Payment Processing Features & Benefits

Direct PaymentsExpenseNet pays the card charges directly to the corporate card issuer, saving your employees valuable time, ensuring that the card is paid promptly, and improving your card account file turn to get you the maximum rebate.

Payment NotificationExpenseNet proprietary payment processing system automatically sends a payment notification to your users when payment is initiated, resulting in  delighted employees, lower payment processing costs, and reduced stress on your internal staff.

FlexibilityYou decide whether to pay the corporate card, your employees, or both.  You can even pay each on a totally different schedule. Having this level of flexibility is unique to the ExpenseNet payment process.

Active AdministrationWe create the payment files for each financial institution, verify the proper funding requirements, transmit the payment files, handle the exceptions (i.e. bank rejects, reversals, notification of change, etc.), and reconcile the account. Could not be more effortless.

Purchase Card (P-Card) Expense Management

P-Cards generally carry corporate liability, unlike corporate T&E cards that are routinely set up as an individual (employee) or contingent liability. However, ExpenseNet can enable you to get the benefits of P-Cards without the hassles of corporate liability, by paying the card after the validity of the expense has been assured, very much like the way we pay the corporate T&E card. This is especially useful when using a one-card (combined T&E and P-Card) program. Naturally, if you prefer to maintain a corporate liability/corporate paid card, we support that as well.

The ExpenseNet P-Card configuration provides:

Maximum Control –  We pay after the business validity of the transaction is determined according to your requirements.

Timely PaymentsWe maximize your rebate opportunity by making payments at the right time.

Lowest Cost – Costs far less than generating a payment internally.

Active Administration – We create the payment files for the financial institution, verify the proper funding requirements, transmit the payment files, handle the exceptions (i.e. bank rejects, reversals, notification of change, etc.), and reconcile the account.

Expense Management Policy and Administration

Ongoing records management and program administration to satisfy regulatory and organizational requirements, and is a “must have” to run your business properly.

Records Management

ExpenseNet provides professional records management of your receipt archive. Our proprietary data system indexes all documents to their original report/statement and identifies the location of all receipts and other supporting documentation in digital form.

Features and benefits include:

  • Compliance – We manage the receipt archive of both hard copy and digitized images for the requisite seven years (or more).
  • Easy Access – We manage the receipt archive of digitized images for the requisite seven years (or more by request).
  • Archive Services – Need a local copy? All paid expense reports and corresponding receipt images can be downloaded quarterly, annually, or as needed.

Program Administration

Only ExpenseNet offers the total business expense management solution – from the receipt imaging and submission through audit, payment, archiving and discrepancy resolution. We want you to see us as an extension of your administrative staff, handling the transaction processing, so that you can focus on running your business.

Features and benefits include:

  • Receipt matching and user notices for un-matched documentation
  • Audit discrepancy resolution direct with the end-user
  • Bank account funding and reconciliation services
  • Account configuration and set-up support (on-site or on-line)

Booking Scorecard

ExpenseNet believes in the value a Travel Management Company (TMC) brings to a corporate travel program; With the ExpenseNet solution, clients get the benefit of being able to choose the booking tool that best meets their needs without the extra effort of integration.

ExpenseNet believes in keeping expense reporting as easy and user friendly as possible; reconciliation of reservation data is a thing of the past with a unique approach of comparing the TMC booking data to the actual expenses incurred without burdening the traveler. The end result is a better understanding of total travel spend, increased policy compliance, and state of the art expense reporting automation.

Quit fussing with paper expense reports or complex/cumbersome software and piles of receipts. It’s time for a smart, easy solution.

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