Optimize your financial oversight
For international companies using Microsoft Dynamics 365 ERP, managing expenses effectively is crucial for maintaining financial control, improving operational efficiency, and driving strategic business decisions. While Dynamics 365 ERP provides a solid foundation for automating financial processes, integrating an Expense Management Solution (EMS) enhances the organization's oversight of travel, entertainment, and operational expenses.
What are the capabilities?
Expense Management Solutions in Dynamics 365 ERP provide organizations with advanced tools for automating and centralizing employee expense management.
Automated expense logging
Automatically capture and categorize expenses from receipts, credit card transactions, and apps. This reduces manual data entry and ensures real-time tracking of expenses across different geographies and currencies.
Multi-currency and localization support
For multinational organizations, EMS supports automatic currency conversion and localization, ensuring expenses are recorded in the appropriate currency while adhering to local tax regulations.
Expense categorization and policy enforcement
Automatically categorize expenses (e.g., travel, meals, accommodation) and enforce company policies by flagging non-compliant entries, ensuring that expenses are compliant and easy to analyze.
Mobile access and receipt capture
Employees can submit expenses on the go by capturing receipts through mobile apps, making expense reporting fast and convenient, especially for traveling employees.
Approval workflows and automation
Configurable approval workflows allow for streamlined, automated routing of expenses based on pre-set rules like department or geographic region, ensuring faster approvals and accountability.
Advanced reporting and analytics
Gain real-time insights into organizational spending patterns with detailed reports and customizable dashboards. These tools help finance teams track spending by department, project, or vendor, improving financial forecasting and planning.
Who is it for?
- Finance teams: Automate manual processes, reduce administrative workload, and gain real-time visibility into spending patterns across the organization.
- Employees on the move: Provide employees with easy-to-use mobile tools for capturing and submitting expenses, reducing delays in reporting and reimbursement.
- Managers and executives: Improve oversight and control over department and project-level spending, ensuring compliance with corporate policies and budgets.
Benefits
- Streamlined Processes and Efficiency: Automating expense submission, approval, and tracking significantly reduces administrative workload, allowing finance teams to focus on strategic planning rather than routine tasks.
- Improved Accuracy and Compliance: Automation reduces human error, ensures accurate data entry, and enforces company policies. This leads to improved compliance with internal guidelines and external regulations, minimizing financial risk.
- Increased Transparency and Control: With real-time insights into organizational spending, management can easily track expenses by employee, department, or project. This visibility helps identify anomalies, enforce budget controls, and discover cost-saving opportunities.
- Faster Reimbursement Cycles: Automated approval workflows speed up the reimbursement process, ensuring employees are paid back quickly, which enhances employee satisfaction and maintains smooth cash flow.
- Enhanced Financial Decision-Making: Advanced reporting tools offer deep insights into spending trends, helping finance leaders make informed decisions about budget adjustments, vendor negotiations, and resource allocation.
- Global Scalability and Localization: For multinational companies, EMS supports multi-currency, multi-language, and local tax regulations, ensuring seamless integration with global operations and scalability as businesses expand.
Industry fit
- Professional Services: Streamline the management of travel and client-related expenses to improve profitability and compliance with client billing requirements.
- Manufacturing: Manage operational expenses related to raw materials, logistics, and employee travel, ensuring accurate tracking and budgeting.
- Retail and Distribution: Gain control over sales and operational expenses while ensuring compliance across multiple regions and currencies.
Return on Investment (ROI)
- Short-Term ROI: Businesses experience quick savings through reduced administrative tasks, fewer errors, and faster expense reimbursement cycles. Automation leads to immediate time and cost savings across the organization.
- Long-Term ROI: Over time, visibility into detailed spending data helps optimize vendor relationships, adjust budgets, and streamline operations. This leads to continuous cost savings, better financial management, and a more profitable business.
Why choose Expense Management Solutions?
Integrating an Expense Management Solution within Dynamics 365 ERP provides international companies with the automation, compliance, and visibility they need to manage expenses efficiently. From automated expense logging to advanced analytics, these solutions help businesses optimize financial processes, reduce operational costs, and improve decision-making.
By reducing administrative workload, improving data accuracy, and enhancing financial control, EMS solutions offer businesses a strategic advantage.
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