PowerBenefits - Expense tracking software
PowerApps is a great expense tracking
tool meant to automate the entire process
of business expense claims, vouching and payment. Expense claims
settlement is one of the costlier employee transactions. The
cost of processing every transaction is very high and it requires, not just
accuracy, but high degree of compliance to internal controls and policies.
PowerApps allows maintaining the expense entitlement, linked to position, department,location etc. Here is brief of our offering as part of expense tracking :
- Various heads of expense - Expense claim heads can be user defined - such as conveyance, purchase, capex, consumable, sundry expenses etc.
- Allocation of expenses - cost center, project etc can be selected at the time of filling the expense claim.
- Online claims - This feature lets your employees check claims history and file expense claims online.
- Attach bills/document - While filling claims, scanned/PDF of bills etc can be attached. This can also be linked to your document management system (coming soon).
- Workflow based approval - Expense claims can be approved online by reporting managers. This workflow can be defined as per organisation policy and could be multi-level.
- Complete control and compliance - System enforces all policies as defined by you, such as no of claims of a particular type in a period, tax impact of claims (if any), period and frequency of claims etc. This effectively saves you a lot of manual intervention and simplifies audit.