As a fast-growing company, managing expenses can be a hassle for managers and executives. We know this first hand at Macedon with our growing headcount and countless business expenses. This is why we took it upon ourselves to create our own in-house expense management tool: Macedon’s Expense Management Application (EMA).
Prior to using EMA, we faced the same issues that most growing businesses have with expense management. Some of our primary concerns included:
Missing receipts: Any business with sizable expenses knows the trouble of having a jumbled mess of receipts and unorganized line items that have no association with one another. It makes reviewing the expenses time consuming and later auditing them a monumental task. EMA can require receipts for configured expense types, and associates them with the appropriate line item for easy review and audit at any time.
Delayed expense submission: Executives and other employees are often on-the-go, working with customers on projects. This can lead to them waiting until they get back to their desktop to submit expenses, if the process is time-consuming. EMA enables employees to submit an expense immediately from their mobile devices instead of having to wait to go back to an office. This prevents late or forgotten expense submissions.
Decentralized expense management: As our company grew, it became harder to keep all the files related to expense management in one location. It takes a lot of manual and repetitive effort to keep downloading receipts and invoices and uploading them to a file for expense management. EMA centralizes and streamlines this work.
Generalized solutions: Prior to using EMA, our company used generic solutions that were not tailored towards our specific needs. This led to us conforming to the solution instead of the solution being customized to our personal expense management needs.
What can you expect from our expense management tool?
Mobile capabilities for employees: Using our Expense Management Application (EMA), employees can take pictures of receipts for business expenses directly from their mobile devices. With EMA, images can be automatically resized to create one format and size for all receipts, which is very helpful for processing the submitted expense report.
Built with Appian: If you already use Appian for any business needs, you will love EMA. EMA is built using Appian, so it leverages all of the features of Tempo like mobile, news feed, reports, and more. With EMA, you can manage expenses, while getting a holistic view of your business from one dashboard. For existing licensed Appian users, EMA gives you even more value out of your Appian investment.
Personalization: Many expense management tools are not customizable and cannot meet the demands of a growing business. In contrast, EMA allows users to fully customize and compartmentalize their expenses. Companies can set levels of approval for employees, categorize expenses (billable and non-billable) and personalize our software to fit their needs.
With these features and more, EMA can speed up and streamline the tedious work of processing expenses for your growing company. If you want to learn more about expense management, check out our product page on the Appian app market. For further inquiries, please contact us here.
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