Business Issues -> Costs
Released: 22nd October 2013
Business software solutions provider m-hance announces the launch of m-hance Expenses, an optional web-based module which further extends the functionality of its end-to-end spend management solution, Purchase Management. By integrating with the company’s core financial management solution, m-hance Expenses enables businesses to maintain tighter control over their expenditure and handle expense claims more efficiently by eliminating paper-based procedures, reducing processing costs by up to 80 per cent.
Mark Thompson, CEO of m-hance comments, “Many businesses still rely on standalone systems and inefficient paper-based procedures to process expenses despite this area being the second largest controllable cost for most organisations. m-hance Expenses provides greater financial control and visibility over expenditure to enable businesses to minimise the time, errors and cost associated with expenses while offering a more streamlined and user-friendly process for employees.”
m-hance Expenses automates paper-based procedures and eliminates the re-keying of data to provide a faster, more efficient way to process expense claims. Users can electronically submit multi-line expenses which are automatically routed to the relevant authoriser and monitor the approval status alongside their claims history, reducing queries and the delays incurred when paper copies are lost or misplaced. Expenses can be imported into the account payable module within m-hance’s finance system, or an export file can be produced once expenses are approved for processing within a payroll solution.
The web-based system provides greater financial control by enabling businesses to introduce approval hierarchies and generate flags per transaction type for claims which are over the amount set in accordance with company policy. Advanced reporting capabilities also allow claims to be analysed in granular detail to more accurately determine spending patterns and improve visibility of costs.
In addition, through integration with m-hance’s document management solution, employees can attach electronic receipts and other supporting documents that may be required to facilitate approval. Once a claim has been approved the document will be permanently stored in a secure archive, further improving productivity by cutting paper and aiding compliance.
Thompson says, “m-hance Expenses further extends the functionality of our end-to-end Purchase Management solution and mirrors the product’s existing user-friendly browser which makes it quick and easy to use for both finance and non-finance professionals. By cutting paper and error prone manual processes, businesses can expect to reduce their processing costs by up to 80 per cent whilst also gaining increased control over expenditure to increase cash flow.”
m-hance is an optional module within m-hance’s Purchase Management solution which seamlessly interfaces with m-hance’s core financial management application. The fully integrated suite comprises purchase requisition, goods receipt, invoice approvals and employee expenses functionality to increase the efficiency and visibility of organisations’ entire purchasing processes by eliminating standalone and time-consuming paper-based procedures.
Notes to Editors
About m-hance www.m-hance.com @m_hanceSoftware
m-hance is a UK-based company providing innovative and functionally rich business software solutions to 2400 mid-market sized organisations including Innocent Drinks, RFU, Viridor, Millennium Hotels, Make-A-Wish, Hewden and Endsleigh Insurance. m-hance’s core solutions offering consists of financial management, CRM, enterprise social networking, SharePoint, HR & Payroll, managed services and software development in a variety of vertical markets including distribution, manufacturing, not-for-profit, professional services and infrastructure.
m-hance has been formed following the acquisitions of Calyx Software, Gyrosoft, Trinity Computer Services and elements of MentecPlus, Touchstone Group and Maxima Holdings plc. m-hance is currently supported by 230 staff from offices in Manchester, London, Dublin, Glasgow and the United States. m-hance also has offshore development capabilities in India.
In September 2013, m-hance was ranked in 40th position in the Tech Track 100 league table as one of the fastest-growing private technology companies in Britain after achieving record sales growth of 79 per cent.
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Published by: electronicdawn Ltd.