Reduce expense processing time

   

Reduce Processing Time

Automate expense reviews, approvals, and audit

 

 

Reduce Processing Time

 

Why Settle for the Status Quo?

 

Improving you expense processing might not be top of your priority list, especially if you’ve got a system in place that covers the basics. But software that requires manual input and review just won't scale, no matter how many people you hire.

 

Cost of the Status Quo

 

The Real Costs of Inefficient Expense Processing:

  • Time-consuming manual processing and reconciliation defer higher-priority work

  • Slow monthly close times mean delayed data to management for review and action

  • Manual reviews and audits increase the potential for error and lack of compliance

  • Fraud, waste, and abuse may go undetected

  • Tedious busywork and repetitive monthly close deadlines can cause low team morale or burnout

Streamlining Expense Operations with Center SpendOps

 

SPEND-TO-GL WORKFLOW

The Center SpendOps Suite streamlines the entire expense process, from the time of purchase through posting to the GL.

Real-time, transaction-level data runs through AI-powered Continuous Audit, which flags out-of-policy expenses. Export with one click.

You'll reduce the time spent on manual reviews, audits, accruals, line-item coding, and monthly close.

 

✔︎ EFFICIENT       

✔︎ ACCURATE       

✔︎ IN-POLICY

 

Purchase-to-Post Workflow

    Simplify P-card processing

    Simplify P-Card Accounting

    When you replace shared p-cards with CenterCard® Visa® Business Debit, spenders capture receipts and other expense data in the CenterCard mobile app at the time of purchase.

    You gather information about departmental spending as it happens, so you know who made the purchase, for what purpose, and for which department. 

    Minimize Accruals

    Minimize Accruals

    Late and overdue expense reports create extra work for finance teams in the form of accruals and reversals.

    When you track real-time data in Center SpendOps, you can close the books quickly, with minimal accruals. Plus the software detects any changes to expenses after export, so you can adjust entries quickly.

    Improve Accuracy

    Improve Accounting Accuracy

    Employees often use the wrong category for expenses. Although hard to find, fixing incorrect coding is important to avoid inaccurate accounting in the GL. 

    Center’s software predicts the expense type category at the time of purchase and learns from manual changes to improve matches. 

    Key Features

    Continuous Audit

    Monitor every expense to ensure to ensure compliant, in-policy spend.

    Change
    Report

    Adjust entries in the GL easily with automated change tracking.

    Flagged Transactions

    Create custom policy flags to identify and review specific types of spend. 

    Approval Workflows

    Streamline review with custom approval workflows, including auto-approval. 

    Export
    to GL

    Export expenses to the GL, including unsubmitted transactions. 

    Messaging and Notifications

    Send messages directly to employees and managers with one click. 

    Expect More

    Managing expenses shouldn't drag your team down. Better spend operations will automate the process, helping you dramatically decrease time spent on manual review, audit, and reconciliation.

     

     

    See for yourself how Center SpendOps Suite works to minimize processing time:

    Ready to Achieve More?

     

    Why Center

     

    Increase Visibility

     

    Deliver Better Outcomes

     

    CenterCard™ Visa Business Debit Card is issued by Central Bank of Kansas City, Member FDIC, pursuant to a license from Visa U.S.A. Inc., and can be used everywhere Visa debit cards are accepted. Certain fees, terms and conditions are associated with the approval, maintenance, and use of the Card. You should consult your Cardholder Agreement and the Fee Schedule. If you have any questions regarding the Card or such fees, terms, and conditions, you can contact us toll-free at 1-870-455-8522.

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