Travel and expense technology firm Serko has released its Zeno Expense tool in North America. The tool complements Zeno Travel, and the two work together as an expense-management and travel-booking platform.
COVID-19 has presented new challenges for expense leaders, with a widespread, rapid shift from a largely office-based to a fully remote workforce. In this new environment, the standards for valid business expenses have become less clear-cut than when they previously applied mostly to business trips. In addition, the pressing need for businesses to control expenses in the current economic climate have made efficient and effective expense management more critical than ever.
In response to these needs, Serko’s Zeno Expense platform offers several benefits:
Real-Time Spend Management
Zeno Expense users can capture receipts and submit expenses as soon as they are incurred, with managers reviewing expense claims on a line-item basis, increasing visibility and control over spend as it happens. This real-time oversight gives expense leaders the power to proactively adapt and enact policy changes.
Elimination of End-of-Month Expense Reports
Zeno’s line-item submission feature means users don’t have to save up paper receipts for end-of-the-month reports. Expense reconciliation happens 24/7, an “always-on” process.
Cost Savings
Automated expense processes and audits increase efficiency and reduce the administrative burden across the organization, from the individual employee level to line managers to finance teams. For example, Zeno’s cloud processing of receipt data for receipts prevents costly data transposition errors.
Automated Insights
Proactive alerts for out-of-policy or duplicate expense claims prevent issues with fraud or overspend. Zeno automatically detects out-of-policy items and flags them for identification during the approval process so that approvers can focus on exceptions.