SaaS-based expense management includes the deployment of expense management systems as a web-based subscription service. This system helps in controlling and monitoring expense reports, thereby streamlining the business process and preventing fraud and human error. It also increases visibility across the entire reimbursement claim process, reducing travel costs and improving the efficiency of enterprises.
The SaaS-based system is operated by a third-party organization as opposed to the installation and maintenance of an on-site business system. SaaS-based expense management has succeeded in changing the procurement of expense management systems from a capital expenditure to a pay-per-use subscription arrangement.
The Global SaaS-based Expense Management Market is expected to grow at a CAGR of 19.20 percent during the 2014-2018 period. We’ve pinpointed the top 9 companies in this market that are expected to contribute to market growth:
“Our paperless solution lets you capture electronic transaction data directly from vendors, and line-item details can be automatically uploaded to expense reports. Plus, automatic payment capability enables quick transfer of payments and reimbursements. Concur® Expense is easy to use—so it gets used. And, increased adoption means compliance, along with excellent insight into spend. Verify line item expenses against submitted receipts, and conduct audits based on best practices and your company’s personalized rules.”
“Ariba’s software solutions are subscription-based, pay-as-you-go services that you access with your web browser. They’re known as software-as-a-service, or SaaS. See, we host and maintain a single instance of each application on a multi-tenant platform in the cloud. That makes them scalable, secure, and replicable, capable of meeting the needs of thousands of customers at the same time. Most importantly, you can depend on our infrastructure. Our data centers are built from the ground up for continuous, secure, and reliable delivery.”
“Telecom Expense Management (TEM) from IBM® Emptoris® Rivermine® helps companies reduce telecommunications expenses by holistically managing the mobile and wireline communications lifecycle. Telecom expense management streamlines and automates key telecom processes, including inventory management; procurement and order management; invoice processing, auditing and cost allocation; mobile expense and device management; and advanced business intelligence and reporting. IBM Emptoris Rivermine is a key offering in IBM’s MobileFirst portfolio of mobile products and services, and provides a flexible suite of managed services to facilitate best-in-class outsourcing of companies’ critical TEM business processes.”
“Infor offers world-class lnfor™ Expense Management SaaS—Software as a Service—in more than 30 countries across the globe. By hosting our application at the state-of-the-art SAWIS data center in Sterling, Virginia, we give you world-class network performance, rock-solid reliability, and complete security. You could very well see better performance with our SaaS solution than you get from some of your local applications. Our SaaS solutions also have obtained clean SAS 70 Type 2 reports for five consecutive years, which satisfies the most stringent Sarbanes-Oxley requirements.”
“Oracle’s PeopleSoft Expenses is a comprehensive travel expense solution, which streamlines and automates travel spend management and establishes policy-driven controls for expense reimbursement. PeopleSoft Expenses is part of PeopleSoft’s Travel and Expense Management solution, a seamless and comprehensive business solution that helps you manage the second largest controllable category of enterprise spend. PeopleSoft Expenses automation enables you to increase compliance and improve your ability to leverage supplier discounts—which in turn can create up to 10 percent savings in the cost of goods and services.”
“Apptricity Expense Management software gives you a granular view of your employees’ expense activities while giving them powerful wizards and easy to use screens for fast entry. It can be used to report and track all types of business expenses, including travel and entertainment (T&E), cash advances, materials and repair operations (MRO), and recurring expenses such as monthly parking.”
“Expense Management provides the most complete and configurable full-service solution for expense management and automation. Travel and Expense (T&E) management solutions are critical components in an organization’s business strategy to control costs, increase employee satisfaction and improve bottom-line performance. SumTotal Expense Management is a global leader in expense management. It automates processing and facilitates management of employee business expenses, the second-largest controllable expense after payroll. ”
“Insperity™ ExpensAble® makes tracking and reporting expenses easier than ever by automating and streamlining the expense reporting process. Trusted by more than 5,000 client companies worldwide, ExpensAble® makes expense management effortless and provides valuable insight that can help save your business money. You can’t save your company money until you know what you’re spending and where. With Insperity™ ExpensAble®, you’ll not only be able to streamline your reporting and approval process, but you’ll have a clear picture of where your money is going.”
“With SutiExpense™, it’s easy to automate the expense reimbursement process. The web or enterprise based application allows employees to generate and submit reports anytime or from anywhere. With the addition of integrated travel booking information, users are able to leverage existing data to generate their expense reports. All corporate policies, per diem rates can be defined and enforced, substantially reducing your company’s exposure to mistakes or fraud. Data can easily be exported to various financial systems reducing the need for manual entry. With its new look and feel, SutiExpense™ provides an easier and enjoyable approach to create and manage expenses.”
For more information, view our 2014-2018 Global Saas-Based Expense Management Market report.
