PocketBuyer™ can help you extract real value from your expense report.
Expenses! That word is the arch enemy of CEOs and financial managers of companies all over the world, and in every industry.
“The devil is in the detail” is an old saying, and this is definitely true of expense reports. Most of the time, a thorough analysis of the detail contained in the typical expense report would reveal where the problems are; for example, where wasteful or over-priced expenditure is occurring.
The problem is, in many companies, incurred expenses are substantial. A lot of expenditure leads to a lot of expense reports, all of which contain detail. All of that detail leaves plenty of room for expenditure devils to lurk.
If you are a CEO or financial manager, you probably wish there was an easy way to cut through all of the clutter and easily spot the expenditure problems among the detail. Well, the good news is – there is.
Channeling expenses through the PocketBuyer™ app not only makes the purchasing and claiming process easier for employees, but it also provides advanced analytics that are custom-designed to find, identify and report on areas of wasteful or non-compliant spending by staff members.
Because all purchases are captured in real time in the app, a common platform is created for reporting. This allows for many types of data analysis, including cost comparisons between similar items purchased in different regions or from alternate suppliers.
With this information in hand, it may be possible to consolidate similar purchases and place them with a single supplier at preferential rates (e.g. all employee accommodation through a particular hotel chain, all car-hire through the same company etc.)
PocketBuyer™ also offers the added benefits of assistance with sourcing goods or services at the best possible price and preventing employees from purchasing or claiming for items that do not comply with company policies and guidelines.
Start using the PocketBuyer™ app today and increase the accuracy and usefulness of your expense reports.