Expense Management Process
Discover how IntelliBuddies AI-driven unified RDA platform revolutionizes Expense Management
Background
A typical expense management consists of carrying out many actions across multiple roles. While compiling travel expenses and preparing a report is one aspect of it, such an expense statement has to go through multiple approvals before finance can reimburse the qualified.
As a department head, you would want to have your colleagues go through the process effortlessly, HR would be interested in making this as simple and hurdle-free as possible to create a smooth experience, Finance would love to make the turn-around time quick with minimal back-and-forth.
Preparation of reports for submission has hitherto been a cumbersome process. In departments where staff travel extensively, this low-value task gets highly repetitive that they may spend more time in compiling expenses than on their travel objective. Once the report is ready, approval thru’ a chain of departments and roles would be tedious for every actor if such efforts are manual.
The challenge now is, how do you make this experience consistent and seamless? The answer would be automation. You digitize your process so that staff spends minimal time either in compiling the reports or getting approvals across desks.
You may of course invest in multiple disparate systems to meet your objectives – BPM for automating your manual workflows and RPA for compiling and consolidating your expenses. However, your costs will skyrocket, connecting disparate systems would only mean implementation overheads and incompatibility issues. And what about support for AI/ML, Analytics? This is where IntelliBuddies plays a key role.
IntelliBuddies stands out as an AI-Driven Unified Rapid Digital Automation Platform tailored for comprehensive Digital Transformation, specifically enhancing the expense management process. Equipped with built-in BPM and RPA engines, it seamlessly integrates custom AI methods and interfaces with Azure, AWS, and Google cognitive services. Furthermore, it facilitates streamlined connectivity with Dynamics reports and offers seamless integration with standard databases and ERP systems.
Typical Expense Management Process
Process Flow
- User will scan all the bills and receipts and store it in a local folder
- User will invoke Expense Appz (IntellIAppZ) via manual trigger
- AppZ will ask user to provide basic details such as Trip Name, Start Date, End Date, Local/Overseas, folder path etc via dialog form
- Once user provides the details AppZ will go through all the bills and receipts, communicate with Azure Cognitive service and prepare an expense report for example, date wise
- Expense report Buddy will also ensure that it highlights details such as over expense based on role based eligibility
- The Expense report will go through various approval depending upon organization policy and finally post it into SAP or other ERP system.
Automated Expense Management Process
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