M-hance, a business software solutions provider, has launched m-hance Expenses, a web-based module which aims to further extend the functionality of Purchase Management, its end-to-end spend management solution.
M-hance Expenses aims to enable businesses to maintain control over their expenditure and handle expense claims more efficiently. This is down to eliminating paper-based procedures and reducing processing costs by up to 80%.
M-hance Expenses automates paper-based procedures and eliminates the re-keying of data to provide a faster, more efficient way to process expense claims. Users can electronically submit multi-line expenses which are automatically routed to the relevant authoriser and monitor the approval status alongside their claims history, reducing queries and the delays incurred when paper copies are lost or misplaced. Expenses can be imported into the account payable module within m-hance’s finance system, or an export file can be produced once expenses are approved for processing within a payroll solution.
The system aims to provide greater financial control by enabling businesses to introduce approval hierarchies and generate flags per transaction type for claims which are over the amount set in accordance with company policy.
Advanced reporting capabilities also aims to allow claims to be analysed in granular detail to more accurately determine spending patterns and improve visibility of costs.
Through integration with m-hance’s document management solution, employees can attach electronic receipts and other supporting documents that may be required to facilitate approval. Once a claim has been approved the document will be permanently stored in a secure archive, further improving productivity by cutting paper and aiding compliance.
Mark Thompson, CEO of m-hance commented on the launch: "M-hance Expenses further extends the functionality of our end-to-end Purchase Management solution and mirrors the product’s existing user-friendly browser which makes it quick and easy to use for both finance and non-finance professionals. By cutting paper and error prone manual processes, businesses can expect to reduce their processing costs by up to 80% whilst also gaining increased control over expenditure to increase cash flow."
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