Acumatica Advanced Expense Management is a significant progress from the prior generation expense management module, incorporating electronic banking feeds for corporate cards and automated receipt creation to streamline processes for ordinary mobile users and back-office accounting personnel.
Fremont, CA: Acumatica, the world's fastest-growing cloud ERP company, announced the release of Acumatica Advanced Expense Management and Electronic Bank Feeds for its Acumatica Cloud ERP solution. Acumatica Advanced Expense Management is a significant progress from the prior generation expense management module, incorporating electronic banking feeds for corporate cards and automated receipt creation to streamline processes for ordinary mobile users and back-office accounting personnel.
With the introduction of Advanced Expense Management, Acumatica Cloud ERP decreases overall solution costs for its users by eliminating any requirement for otherwise costly user-based licensing fees from solutions such as Abacus and Concur. Now, Acumatica Cloud ERP customers can enjoy the impressivea abilities of built-in Advanced Expense Management without any need for additional third-party add-ons.
"It used to take us hours to keep up with the volume of transactions from two different banks and two different credit card companies," stated Jessica Pace, Director of Operations, SB Tactical. "Now everything imports automatically every morning. We can easily apply incoming ACH payments to invoices, and employee expense receipts are timely and accurate --the expense receipt information is filled in for them, all they have to do is attach a picture of the receipt and classify the expense."
"One of the most exciting features within Acumatica Advanced Expense Management is its ability to detect corporate card use activities and remind the user to capture images of physical receipts for auditing and compliance purposes," remarked Ali Jani, Chief Product Officer, Acumatica. "Combined with its Intelligent Machine Learning enabled receipt recognition, expenses are intelligently categorized to streamline the approval and back-office reconciliation processes."
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