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What is Expense Report Software?

Expense report software is a type of computer program that is designed to help individuals and organizations track and manage their expenses. With this software, users can easily create and submit expense reports, which can include detailed information about the expenses they have incurred, such as the date, amount, and purpose of each expense. This can help businesses to better track and manage their spending, and can also help employees to get reimbursed for their expenses more quickly and efficiently. Some expense report software may also include features such as automatic categorization of expenses, integration with accounting and financial systems, and the ability to generate reports and analyses of spending patterns.

Expense Report Software Is Not About Reports

Although the term "Expense Report" sounds like a report of expenses, the term actually refers to a request for reimbursement. Expense reports are often needed for reimbursements of travel-related expenses but they are also used for other kinds of reimbursements. The word "report" refers to the business term used to describe the "reporting of your expenses for which you see reimbursement."

Of course, this is not to suggest that Expense Report Software does not have reporting. Of course, the best systems provide all kinds of reporting against any and all data submitted to the system.

Types of Expense Report Software Systems

Expense Report Software has varying levels of complexity. Basic systems provide a request form the user fills out, a place to photo-attach receipts, and automated approval flow to have the request approved sent to accounting for payment, and closed after payment.

More advanced systems add one or more of the following features:

    • Integration with Accounting

    • Automated GL Coding (based on self-learning)

    • OCR scanning of receipts.

    • Pre-travel Requests with Approval and Flip to Expense Reports

    • Automated Per-diem Calculations

    • Configurable Security Warnings and Blocks

    • Cash-Advance Support

    • Credit Card Reconcilliation

Cost Trends

Today's most popular Expense Report systems have experienced major cost increases. This is because many expense report companies have followed the "big tech" wave. They have been over-financed or purchased by larger big tech companies. This has lead to huge increases in costs.

Examples include:
    SAP Concu (Owned by SAP)
    Expensify (Owned by Akamai Technologies)
    Procurify (Received 32M+ Funding)
    Zoho Expenses (Zoho Corporation, formerly AdventNet)
    Center (Received 65M+ Funding)
It is not uncommon for systems supporting one hundred users to cost upwards of twenty five to one-hundred thousand dollars annual.

In Aestiva's opinion, the high costs do not reflect the technology needed for expense management.

Aestiva's Expense Reporting Systems

Aestiva, as a paperwork automation firm, is a supplier of small and large expense report systems. Aestiva does nopt follow the "big tech" trend. Its systems are affordable. If you are seeking the same or better features of today's expense report systems and want to lower your overhead then consider swithching to a system from Aestiva.

Note: Aestiva provides expense report systems and modules with its Software Unlimited plan. Under the plan, Aestiva customers get all the software and modules they want for one price. Moving to Aestiva can save you ninety percent (90%) on current expense software carrying costs.

See Also

Travel Request Software, Reimbursement Software