ExpensePoint is a comprehensive, cloud-based expense management software designed to streamline and automate the tracking, submission, approval, and reimbursement of employee expenses for businesses of all sizes. Here’s a detailed overview of what ExpensePoint does and its key features:
What ExpensePoint Does
ExpensePoint is developed by GlobalPoint Technologies Incorporated and has been a leading solution in automated expense management since 2000. It is designed to simplify and enhance financial control by providing a unified platform for generating, submitting, approving, and processing expense reports. This software is utilized across various industries, including non-profit organizations, construction, financial services, insurance, and more, and is deployed in over 54 countries worldwide.
Key Features and Functionality
Expense Tracking and Automation
ExpensePoint automates the entire expense management workflow, allowing employees to submit expense reports online, eliminating the need for paper-based forms and manual data entry. The software includes a Receipt Reader system that accurately deciphers receipt data, including amounts and tips, and supports 18 languages.
Multi-Currency and Multi-Language Support
The platform offers advanced multi-currency support, enabling businesses with global operations to manage expenses across different countries and currencies. It automatically converts currencies and calculates exchange rates, ensuring accurate and consistent reporting. Additionally, ExpensePoint supports expense reporting in 14 languages and can convert user-inputted expense descriptions from over 100 languages.
Credit Card Integration and Automatic Receipt Matching
ExpensePoint integrates seamlessly with credit card transactions, syncing them automatically and matching them with stored receipts in the Receipt Wallet™. This ensures accurate record-keeping and enhances the user experience.
Mileage Tracking
The MileageTracker™ feature uses a mobile device’s GPS to accurately record mileage routes. Users can create mileage expenses with comprehensive routing information and user-friendly maps, visible to both users and expense approvers.
Integrated Travel Booking
ExpensePoint integrates with online travel booking through ExpensePoint Travel™, syncing travel details such as flights, hotels, and car rentals. It intelligently matches these bookings with imported credit card charges, eliminating manual reconciliation.
Expense Policy Management
The software allows for the customization of expense policies based on various criteria, such as spend amounts, cost centers, project numbers, and expense categorization. This ensures control and compliance with company policies and regulations.
Workflow and Approval Process
ExpensePoint’s Workflow Manager enables dynamic workflows tailored to the organization’s needs, from single approvals to multi-level approval hierarchies. The platform also offers a user-friendly mobile app and browser login for approvers to authorize expenses and view receipts effortlessly.
Analytics and Reporting
The Analysis Manager provides real-time data analysis with over 36 management reports, offering detailed breakdowns, summary overviews, dynamic bar charts, and insightful graphs. This helps businesses gain deep visibility into their expenses and make informed decisions.
Integration Capabilities
ExpensePoint integrates with popular accounting systems such as QuickBooks, Sage, Xero, Microsoft Dynamics 365, and NetSuite, ensuring smooth data transfer and synchronization. This integration simplifies financial reporting and the reconciliation process.
Pricing
ExpensePoint offers various pricing plans, including Essentials ($8.50/month), Premium ($9.50/month), Premium ($10.50/month), and an Enterprise plan with volume-differentiated pricing. A free trial is available to test the software before committing to a plan.
In summary, ExpensePoint is a robust expense management solution that automates and streamlines expense reporting, reimbursement, and policy compliance, making it an essential tool for businesses seeking to enhance their financial efficiency and control.