Expense Management Software
No business can alleviate the needs of Travel Expense Management software. FactoHR TEM Software graciously freed you from manual entries, reliance on 3rd party ERP solutions, or platform ecosystem where customization for your bespoke needs becomes a hurdle.
The rich dashboard of our Travel Management Software docks a rich user interface for travel application. Our TEM manages approval workflow and customization of travel policies. It enables you to look at expense audit, claim details, and various reports with visuals. It lets you process bulk data and bulk payment. Everything on any device including mobiles.
What you will get in our expense management software for small business solution?
We present all-in-one small business Expense Managment Software solution that wired for your specific requirements, capabilities, and devices. It is safe within cloud infrastructure and integrated with APIs of the latest technologies viz. LBS, AI, ML, IoT, NFC, and everything possible with the latest web and mobile technologies.
Perhaps, none is capable of offering what we can at such price tags. Our prime differentiators are:
Paperless Processing
With factoHR’s paperless expense management process you can digitally manage all your expense documents along with giving access to only authorized person for security.
No time Waste
With the centralized system and mobile application, FactoHR provide seamless fast processing of expense filling and settling claims for it.
AI based Reimbursement
Our mobile application has AI-based Smart Receipt feature to let you capture bills and receipts in digital format and auto-fill the reimbursement application for further processing,
Real time expense logs
An Organization can easily monitor real-time expenses as soon as the employee makes an entry for any transaction on his business trip.
GST Compliance
Efficiently manage bills and receipts for considering GST benefits while filing an income tax return at the financial endings. [Capture GST information/detail for filing GST return easily]
Why factoHR’s Travel Management Software is best in class?
With factoHR’s Travel Management Software, you will get a platform that will take care of all your needs regarding managing all the expense related coliances and reimbursement through a centralized solution.
Following are the unique features that you will get in our expense management software:
Expense Submission
Expense Against Travel
Travel Application
Policy Configuration
Bulk Payment
Mobile App
Reimbursement
Expense Submission
Daily Allowance
FactoHR facilitates your company to moderate the amount of daily expenses incurred by your employees with authority of the approver to easily accept or reject the expense application.
Travel Allowance
Your employee can file an application for traveling allowance to go on a business trip which can be verified and approved by your manager or HR.
Lodging Allowance
Allocate your employee with a lodging allowance according to the city they are traveling to like a rural, urban or metro city.
Misc Allowance
Let your company’s budget managing authorities decide how much miscellaneous allowance to be provided for an employee.
Multilevel Work-flow
Strategically configure your multi-level approval hierarchy to define the approval authority assigned to various managers.
Expense Against Travel
Policy Check
The Software will check the expense claimed by an employee & will approve based on the city he/she has traveled to, their designation, time of the day & much more organization defined factors.
Proof submission
An Employee can upload a receipt or expense proof in any file format along with the claim application for authenticating an expense claim.
Paid by self / company
An employee can file an expense which might be incurred by him or paid through company funds on a business trip.
Eligibility
Our expense management software lets you explicitly define your employees’ expense limit which will notify him to spend accordingly.
Bulk expense submission
Employees can file all the expenses in bulk from our system which can also be bulk approved by the company’s HR or manager which eventually makes the process fast and practical.
Travel Application
Create business itinerary
With factorHR you can proactively create an itinerary for your business trips to efficiently plan out on time client visits and expected traveling expenses.
Advance Limit
Receive application from your employees for advance payment while they are going on a business trip & approve according to their eligibility.
Approval work flow
Configure your organization workflow to define authorities for handling the expense approval process according to departments, categories, amount claim and many more factors.
Verify Expenses
Approve your employees filed expenses by cross-checking with the proofs submitted along with them like receipts, bills, memos etc…
Due date Reminder
Our expense management software will remind your employees for filling their expenses application and also remind approval authorities for any pending application which needs to be approved.
Policy Configuration
Eligibility Matrix
Configure your employees’ policy for providing eligibility of doing expense on their business trip according to the city, employee grade or designation, means of travel, the priority of client visit and many more.
Deviation Policy
You can frame a policy for your employee, which will allow you to specify the expense deviation which will be considered in reimbursement and how much part of it gets rejected.
Spending control
The company can impose a cap on an employee’s expenditure like food, travel & miscellaneous in their business trip to restrict their expenses to be in company’s travel budget.
Incedential Allowance
Company can make policy for allowing certain amount to be overspent in some situation like night travel, some places visiting charge, toll expense & various more like that.
Bulk Payment
Payment Batch Approval
FactoHR saves your managerial authorities time by allowing them to verify and approve a batch of expense claim application for further process.
SBU [Strategic business unit] Wise / Branch Wise
Your company can integrate and approve expenses of your various offices through our software, enabling you to verify and approve all expense claims from the centralized main branch of your organization.
Pay with salary
FactoHR facilitates companies to settle the reimbursement amount in employee’s payroll, cheque or any other method which is convenient to an organization.
Financial JV [Journal Voucher]
We have integrated the functionality of generating a financial JV for all your travel expense so that it can easily be used for accounting entries by your finance department.
Partial Payment Recovery of Advance
Our Expense Management software will calculate advance payments against the expenses done by an employee for giving a valid amount to be reimbursed.
Proof Verification and Cancellation
An employee can attach a file in correspondence with the expense claim by which the transaction can be authenticated and if found biased, can be rejected.
Payment Notification
Our Travel management software will notify your employees regarding the status of their reimbursement application through an email whenever the claim is approved or rejected.
Mobile App
Smart receipt
FactoHR’s mobile application is embedded with AI Smart receipt feature which will capture an image of your bill or receipt to auto-fill required details in the reimbursement application.
Real time expense
With our mobile enabled expense solution, the company can track expenses in real time by getting notification of each and every transaction an employee’s files through his mobile device.
On the go filing
With on the go, mobile expense filling the approval authority can pro-actively work on reimbursement claims and can make the process execution fast.
Digitize Bills
Manage and share all your important receipts and bills digitally on a centralized file storage in a more secure and reliable manner as compared to traditional hard paper storage.
GST Compliant
The company gets benefitted by compliancing GST with their bills and receipts of all incurred expenditures while filing IT returns.
Reimbursement
Claim allowance reimbursement
Allow your employees to file a reimbursement claim according to their eligibility based on their designation, grade, category, time of business travel and many more.
Submit with proof
Avoid approving of any biased expense by making your employees submit receipts and bills as an attachment with their reimbursement applications.
Approval
An employee can now check the status of their reimbursement application in the expense management software and will be notified on approval or rejection.
Consider in income tax
The employee can file income tax for the amount they got in form of reimbursement or any kind of allowance.
Custom type of reimbursement
The organization is facilitated to do the employee’s reimbursement partial or full settlement in salary, cheque or cash.