Expense Management Software helps enforce policy compliance.
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Press Release Summary:
Enabling managers to sign-off on employees' expense reports through their mobile devices, Expense Management v7.0 tracks travel and entertainment expenses of organizations. Analytics engine enables companies to utilize spending patterns to negotiate further discounts with vendors. Software includes travel plans, expense reports, payment requests, and timesheets modules, and each module features real-time policy notification for alerting employees about policy violations.
Original Press Release:
Infor Helps Companies Manage Employee Expenses
Expense Management 7.0 Enforces Policy Compliance, Reduces Administrative Costs and Improves Employee Productivity
ATLANTA - October 29, 2007 - Infor today announced general availability of Infor Expense Management 7.0, the latest version of its travel and expense management solution, which includes enhancements that reduce administrative costs, decrease errors and minimize occurrences of fraud. New capabilities in Expense Management 7.0 include expanded options for mobile approval, which enables managers to quickly sign-off on employees' expense reports through their mobile devices, a new portal user interface with enhanced personalization options, additional business rules and background processes to help companies enforce travel policy compliance, web-based HTML timesheets and new configuration options.
According to market data, travel and entertainment (T&E) expenses account for between 8 percent and 10 percent of an organization's total operating expenses. In an effort to control these costs, enterprising companies are turning to automated solutions that track, manage and reduce T&E expenses.
Critical to controlling T&E expenses is the ability to identify spending patterns, reduce errors and prevent violations of company policy. Expense Management's powerful analytics engine enables companies to utilize spending patterns to negotiate further discounts with vendors. Additionally, as an employee submits an expense report, the solution identifies policy violations to ensure the company only pays for sanctioned business expenses.
Several Infor customers, including A.T. Kearney, a global strategic management consulting firm, collaborated in the development of Expense Management 7.0. A.T. Kearney is also an initial user of the enhanced solution.
"It's very comforting to know that we have a voice in the future enhancements of our solution," said Michael Black, applications specialist with A.T. Kearney. "Infor has worked with us to include several of our requests, such as HTML timesheets, to make it easier for our employees to use the system - a critical consideration for our company."
Infor Expense Management includes four core modules: travel plans, expense reports, payment requests, and timesheets. Each module features real-time policy notification, alerting employees to violations as they enter data and allowing them to enter explanations or correct data prior to submission. Each module also provides configurable workflow for alerting reviewers and obtaining necessary approvals, and triggered events such as the issuance of air tickets or the reimbursement of expenses.
"Enterprising companies are starting to see expense management as a repeatable business process where they can achieve greater efficiencies," said Kathy Schindler, product marketing manager, for Infor. "Infor Expense Management 7.0 makes it easier for companies to capture employee-initiated spending, gain visibility into spending patterns, better control costs, and ensure compliance to company policy."
Infor Expense Management 7.0 is also available via a web-hosted model.
About Infor
Infor delivers business-specific software to enterprising organizations. With experience built in, Infor's solutions enable businesses of all sizes to be more enterprising and adapt to the rapid changes of a global marketplace. With more than 70,000 customers, Infor is changing what businesses expect from an enterprise software provider. For additional information, visit www.infor.com.
