Payment Request Management(PRM)
Expense Management is an essential feature in an HRMS (Human Resource Management System) designed to streamline the process of tracking, approving, and reimbursing employee expenses. This tool simplifies financial workflows, ensures transparency, and helps organizations maintain control over company spending.
Explore the PRM & Expense Management Software Functions
Expense Submission Portal
Employees can submit their expenses directly through the HRMS system, including travel, meals, accommodation, or any other business-related costs. Easy upload of receipts and supporting documents through mobile or desktop
Customizable Expense Categories
HR teams can create and manage custom expense categories, such as travel, office supplies, and client meetings, ensuring all expenses are categorized appropriately. Policies can be set for each category, such as spending limits and allowable types of expenses.
Real-time Expense Tracking
Employees and managers can track the status of expense reports in real-time, from submission to approval and reimbursement. Dashboard views allow for a quick overview of pending, approved, and reimbursed expenses.
Automated Approval Workflow
Pre-configured approval workflows ensure that expense reports are sent to the appropriate manager or department for approval. Notifications are sent to managers to review and approve expenses quickly, streamlining the process.
Expense Management
- Integration with Payroll : Approved expenses are automatically synced with the payroll module to ensure timely reimbursement with salary disbursements. Eliminates the need for separate payment processes for reimbursing expenses.
- Expense Reports and Analytics : HR and finance teams can generate detailed reports and analytics to track company-wide spending by category, department, or individual employee. This data helps in identifying trends, controlling costs, and optimizing budgeting.
- Approval Notifications and Reminders : Managers receive automatic notifications to approve expenses, and employees are notified when their expenses are approved or rejected. Regular reminders help speed up the approval process.
