Expense management made convenient, quick, and secure
Expense management software will revolutionize your finance department. Instead of a lump sump of work at the end of the month, and chasing payments, you can rely on automation to take control.
Go digital with your financial processes in order to make business expense management much more manageable. Let your teams do what they do best instead of menial paperwork.
Track every penny spent by equiping your employees with smart corporate cards synced with your expense management software. Fully controlled from the dashboard, it comes with the default expense policies already implemented. These cards come with dedicated ledger categories so that you can sort them easily as soon as a card is swiped.
Create multiple virtual cards, be it vendor-specific, employee-specific, or even department-specific. Assign instantly usable virtual cards to your employees based on their spend requirements. Limits can always be set so that you have control over the spending.
Our expense management software Singapore offering also lets you issue physical cards for employees that can be used inn all merchant portals and for offline expenses while traveling. Any payments can be recorded and supplemented with receipts in real-time.
Expense management software also comes with the ability to manage reimbursements. For one-time instances where employees make out-of-pocket payments, they can submit reimbursement requests directly on the portal.
Receipts and details may be attached, and approvers can instantly authorize a disbursement. Employees can also claim mileage reimbursements!
If you think that the expense management software Singapore option won’t let you handle global subscriptions, you’re wrong. Virtual cards make SaaS payments much easier to manage remotely.
Cards can be created for one-time payments, as well as recurring ones. Just load and plug in the card number on the payment portal. These cards track expenses as they happen, and can also be reloaded whenever required. Accounting also becomes quicker with dedicated cards for each subscription.
The most time wasted with corporate expense management is when you’re chasing approvals. Ditch all of that by setting custom, multi-level approval policies on Volopay.
Maker-checker systems allow you to set multi-tier approvers (up to 5 levels) to have accountability behind spending. Auto-decline rules can be set for requests over a certain amount. Additionally, these approvals can take place remotely and instantly, avoiding the wait time.
Stop waiting for the end-of-month statement to shock you. Live synchronization of expenses lets you track spending as soon as payment takes place. Be it from one of the AP accounts, or from a card.
Expenses are tracked instantly and synced to the ledger for better expense reporting. Transparency on payment frequencies and amounts becomes that much more convenient to implement.
Fear of overspending is not unfounded in the corporate expense management world. But specific controls and expense policies can let you monitor your spending before it even happens.
Company-wide expense policies can be implemented on the Volopay platform, with customizations for departments. Auto-decline rules can be set for payments over certain limits. And multi-level approvers let you pause and check payment before it runs through.
Better spending management comes with better control and policy awareness. The ability to secure your company funds is made possible by enabling approvers, policies, as well as live-tracking of all expenses. Additionally, your employees have a degree of accessibility, too.
Receipts can be directly uploaded to the platform, reimbursements requested, and mileage reimbursed. Employees can also request funds for cards at any time, from any place.
No more switching between multiple bank accounts and tools to run your smart business. We have combined great software with every service you are using a bank for, to produce a state-of-the-art financial platform.
Empower your employees with physical and virtual cards
Manage and track every dollar that leaves your company
Open a global account with multi-currency payments.
Manage vendors, approve invoices and automate payments.
Save hours daily, and close your books faster every month.
Integrate with the all the tools and software that you use daily.
Volopay brings together the different branches of expense management under the umbrella of one platform. You can manage things like approvals, corporate cards, account payments, expense reimbursements, and accounting automation from the same place.
Different tiers of approvers ensure that no one person is responsible for an expense and that all payments have a good system of checks and balances. On Volopay, you can assign up to 5 levels of approvers for payments, reimbursement sanctions, policy enforcement, and card reloading. These approvers can also request information or flag inconsistencies before approving so that there is no missing data during the accounting process.
Employees shouldn’t feel hesitant to request funds or claim reimbursements. Instead of letting them get daunted by week-long procedures, allowing them to request reimbursements on the Volopay platforms lets the process be managed much easier. They just need to upload a receipt and mention the payment details - approvers just have to verify and approve the disbursement of repayment.
SaaS should be helping you, not making your life tougher. Virtual cards can be created for every vendor so that you can allocate funds accurately, and take one look at an expense report to see who was sent how much money. This also lets you easily manage cross-border vendors, or stop payment for forgotten subscriptions. One-click solutions for seemingly complicated problems.
Track it as it happens. Real-time visibility lets admins, accountants and managers observe the flow of company funds as they are occurring. Instead of shocking expense reports or massive debt, you always have control over how your company’s money is being spent. Know every detail, approve it quickly, or freeze it before it’s too late.
Read up on snippets of the latest news and updates on expense management in Singapore.
Global SaaS-based expense management market is rising at a market growth of 11.2% of CAGR and is expected to reach around $6.6 billion by 2028.
Features to have in a business travel and expense management system are 1. Complete visibility, 2. Flexible with different currencies, 3. Automated reports and reconciliation, 4. Customization facility, 5. Mobile app, 6. Notification feature.
Tips to make business travel and expense management easier are 1. Instant reimbursement submission, 2. Categorize expenses, 3. Do away with paperwork, 4. Redefine your travel policies, 5. Take the load off from reimbursement process.
1. Collect relevant expense information, 2. Have clear expense policy, 3. Automate payment processing, 4. Enable automated audits, 5. Establish accountability, 6. Process reimbursement on time, 7. Assess expense analytics, 8. Streamline expense reporting.