By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
SmartData CollectiveSmartData CollectiveSmartData Collective
  • Analytics
    AnalyticsShow More
    data-driven white label SEO
    Does Data Mining Really Help with White Label SEO?
    7 Min Read
    marketing analytics for hardware vendors
    IT Hardware Startups Turn to Data Analytics for Market Research
    9 Min Read
    big data and digital signage
    The Power of Big Data and Analytics in Digital Signage
    5 Min Read
    data analytics investing
    Data Analytics Boosts ROI of Investment Trusts
    9 Min Read
    football data collection and analytics
    Unleashing Victory: How Data Collection Is Revolutionizing Football Performance Analysis!
    4 Min Read
  • Big Data
  • BI
  • Exclusive
  • IT
  • Marketing
  • Software
Search
© 2008-23 SmartData Collective. All Rights Reserved.
Reading: Expense Reporting gets a boost from Cloud ERP
Share
Notification Show More
Aa
SmartData CollectiveSmartData Collective
Aa
Search
  • About
  • Help
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
SmartData Collective > Inside Companies > Expense Reporting gets a boost from Cloud ERP
Inside Companies

Expense Reporting gets a boost from Cloud ERP

EphraimCohen
Last updated: 2010/09/09 at 4:10 PM
EphraimCohen
4 Min Read
SHARE

As reported in Travel Procurement, the competition in the automated expense reporting space has increased dramatically over the past few years. According to author Mary Ann McNulty:

Contents
Expense Reports are an Ideal Cloud ERP ApplicationSoftware Implementation Statistics

While some products are still delivered as software, most are software-as-a-service, cloud-based or, increasingly, mobile apps.

This should come as no surprise because expense reporting is an ideal application for the cloud.

More Read

cloud ERP implementation

When Does Cloud ERP Start Saving Money?

Cloud ERP Comments
Cloud ERP – Efficient, Innovative, or Both?
Relating the NIST Definition of Cloud Computing to ERP
Cloud ERP Software Perceptions

As reported in Travel Procurement, the competition in the automated expense reporting space has increased dramatically over the past few years. According to author Mary Ann McNulty:

While some products are still delivered as software, most are software-as-a-service, cloud-based or, increasingly, mobile apps.

This should come as no surprise because expense reporting is an ideal application for the cloud.

Expense Reports are an Ideal Cloud ERP Application

The cloud supports expense reporting by providing access from anywhere. Access from anywhere allows on-the-fly entry to reduce the time between when expenses are incurred and when they are reported. Reporting accuracy improves significantly when the time to entry is reduced.

The cloud supports expense reporting by providing scalable computing power. In large organizations, many people wait until the end of the week to enter time sheets and expense reports. By using a cloud application, the additional traffic and processing can be easily accommodated to avoid delays.

The cloud enables centralized, real-time processing so accountants, budget personnel, and approvers to spot and correct problems quickly. In addition, policy and procedure changes can be instantly implemented when using a web-based cloud system.

Software Implementation Statistics

In the article Expense Reporting Solutions Multiply: Cloud, ERP, Mobile, Procurement Suites Among Options, author Mary Ann McNulty also points out some interesting facts about the automated expense reporting industry:

  • A Cost of Control 2010 survey of 550 financial directors and CFOs reports that 72 percent claimed to increase automation or plan to do so in the next 12 months.
  • Aberdeen Group published a survey of 175 companies in February 2010 where 52 percent of enterprises were focused on increasing visibility of their T&E spending, 40 percent on improved compliance, 38 percent on reduced processing time and costs, and 36 percent on managing travel budget restrictions.
  • The same Aberdeen study said that 20 percent of enterprise customers still process expenses manually, 30 percent are partially automated, 45 percent are fully automated, and 5 percent outsource their expense reporting. Although not part of this statistic, the percentage of manually processes expenses for mid-sized business is probably even higher.

The fact that 50% of firms are manual or partially automated provides a large opportunity for companies to do it right the first time by implementing a web-based or cloud-based expense reporting solution. Companies with older automation systems facing maintenance payments should consider upgrading to a web-based or cloud-based system. The savings in time, accuracy, policy-making, and reporting may easily pay for the cost of the upgrade.

TAGGED: cloud erp
EphraimCohen September 9, 2010
Share This Article
Facebook Twitter Pinterest LinkedIn
Share

Follow us on Facebook

Latest News

sobm for ai-driven cybersecurity
Software Bill of Materials is Crucial for AI-Driven Cybersecurity
Security
IT budgeting for data-driven companies
IT Budgeting Practices for Data-Driven Companies
IT
machine,translation
Translating Artificial Intelligence: Learning to Speak Global Languages
Artificial Intelligence
data science upskilling
Upskilling for Emerging Industries Affected by Data Science
Big Data

Stay Connected

1.2k Followers Like
33.7k Followers Follow
222 Followers Pin

You Might also Like

cloud ERP implementation
Uncategorized

When Does Cloud ERP Start Saving Money?

6 Min Read

Cloud ERP Comments

6 Min Read

Cloud ERP – Efficient, Innovative, or Both?

7 Min Read

Relating the NIST Definition of Cloud Computing to ERP

6 Min Read

SmartData Collective is one of the largest & trusted community covering technical content about Big Data, BI, Cloud, Analytics, Artificial Intelligence, IoT & more.

data-driven web design
5 Great Tips for Using Data Analytics for Website UX
Big Data
giveaway chatbots
How To Get An Award Winning Giveaway Bot
Big Data Chatbots Exclusive

Quick Link

  • About
  • Contact
  • Privacy
Follow US
© 2008-23 SmartData Collective. All Rights Reserved.
Go to mobile version
Welcome Back!

Sign in to your account

Lost your password?