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.
It’ll become harder to keep track of hundreds of paper invoices as your business grows. It’s made even worse when your invoices and physical reports have to cross many desks for approvals.
Expense management software provides a solution by automating and digitizing expense report submissions and approvals. Everything can be done directly on one platform.
Having better visibility into your company spending in real-time doesn’t just stop there. You can easily consolidate all your expense details into reports, which can then be used to identify trends.
Pinpoint which departments or employees are spending the most and create plans to save more. Expense management software can help you generate reports to better inform your decisions.
Changes in expense policies are hard to keep up with. Even the best managers might have a tough time enforcing them. The good news is expense management software makes it easy to make policy changes that will automatically be applied to the whole company.
With automatic out-of-policy flagging, it’s easier to ensure that your business expenses are within company policies.
Employees can easily submit claims while approvers can just as easily review and approve them through expense management software.
With mobile app support, it takes no time at all for employees to submit a claim after making an expense.
Bypass complex reimbursement requirements and satisfy your employees by quickly settling their out-of-pocket expenses.
Decreasing manual touchpoints using automation features reduces the likelihood of errors.
Instead of having your finance team input error-riddled expense reports into spreadsheets, you can rely on your expense management software to flag errors and duplicate entries.
You’ll have better accuracy and a sped-up data entry process when you aren’t dealing with errors.
View your expenses from anywhere at any time. Not only can you keep track of your business spending in real time, but you’ll also be equipped with a dashboard that presents your information in ways that are visually easy to understand.
Filter key metrics and information you want displayed to get the best visibility possible.
You can make smarter decisions when you have a better view of your expenses.
It’s easy to fall into the trap of sticking to what you know. With a lot of expenses to settle, it might feel like you don’t have enough time to analyze your current processes and make changes.
Real-time visibility enables you to take a step back and view what your monthly expenses look like to help you allocate resources better.
The first step to figuring out which expenses are inefficient is by knowing how, when, and where your money is spent. Understanding what your expenses look like at any given time will make inefficient expenses easily visible.
Make yourself aware of what expenses are bleeding your cash flow and cut back on ineffective marketing strategies or unprofitable vendor purchases.
Real-time visibility equips you not only with information on how much you’re spending, but also enables you to see what the return on investment on your expenses is.
With a more comprehensive and holistic view, you’ll be able to pinpoint what the most effective strategies are. You can optimize future projects based on the available information.
When you have a high volume of transactions, you’ll spend a lot of time compiling data and making sure that you have complete and accurate information.
Having tools that can help you achieve real-time visibility solves this issue and streamlines your expense management process. Enable better decision-making in less time.
Cut down on the number of reimbursement claims that your finance team has to process by providing your employees with corporate cards with pre-approved limits.
As long as they spend within the pre-approved limit, business expenses are made easier. Your employees don’t have to make out-of-pocket expenses and wait to be reimbursed.
Instead of having to approve every single transaction before they go through, you can set auto-approval policies to save time. When your employees spend under a certain amount, they won’t have to chase down approvers before making payments.
This way, expenses and reimbursements are transparent and controlled without your finance team and other employees wasting time on approvals.
You don’t have to waste your employees’ time chasing down approvers and risk losing paper documents as they cross many desks.
Automated multi-level approvals can help you digitally route claims and reports for approval. Approvers of each level will be automatically notified. Everything can be done with just a few clicks in a few minutes.
Volopay offers a platform that can help you carry out your entire claims process from end to end without hassle. When your employees submit a claim through the Volopay mobile app or web dashboard, it’ll be automatically routed to the designated approvers.
Approvals are easily made on the same expense management software, which can also settle claims.
Not only can you make reports and input expense data on Volopay, but you can also make payments straight on the platform.
Collate all your expenses starting from card spending to salary payments and reimbursements and settle all your payments through Volopay.
You get better visibility and control over your spending while speeding up the entire process.
With tools meant to make your expense management process easier and smoother, Volopay provides flexibility to help you incorporate existing workflows and automate them.
Set multi-level approval workflows and appoint approvers according to your company policies.
With customization, it’s easy to integrate your policies without having to make changes when automating.
You might spend a lot of time going back and forth to ensure that all expense reports and reimbursement claims have all the necessary information.
Volopay allows you to create mandatory fields according to your expense report and claim submission policies.
Cut back on the time chasing down missing information by notifying employees of which fields still need attention.
Whether it’s for card payments, monthly vendor payouts, or specific project expenses, you can set spending limits for all your expenses through your dashboard.
In just a few clicks, you’ll be able to easily create one-time spend limits for each specific project or apply monthly limits for individual departments.
Control your expenses better using Volopay’s expense management software.
Allow department managers, executives, and other administrators in your business to get an overview of all your expenses at all times through Volopay.
All you’ll need to do is open up the dashboard to get detailed information on cards, transactions, and expenses—available to you with just a few clicks. Trade in paper files for a digital overview.
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.
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Read up on snippets of the latest news and updates on expense management in Singapore.
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1. Watch your accounting method, identify how you do accounting, 2. Find out fixed and variable costs, 3. Always be up-to-date instead and ensure regular audits of budgets, 4. Group common expenses, 5. Be informed on what costs cannot be counted as business expenses.
Three ways your employees can track their mileage expenses ranging from traditional to digital & advanced versions 1. Logbooks and excel spreadsheets, 2. Online mileage-tracking apps, 3. Expense management systems, which are supposedly to be the most efficient way.
1. Gather insights into your existing travel and business expense policy, 2. Choose the right expense management application based on your needs, 3. Performing a pilot test to determine the best-fit, 4. Ensure a post-implementation evaluation and check.