Companies and their finance teams are able to focus on strategy rather than paperwork, as InternationalXpense brings control, transparency and cost-effective management to employee expense claims.
TMF Group, one of the world's leading providers of Global Business Services, announces the launch of InternationalXpense – a web-based expense solution using a global standard template with a managed service that automates employee expense claims, freeing up finance teams to focus on strategic value-add activities.
Businesses can better manage compliance risk by enforcing corporate travel and expense policies through the tool, and the elimination of paper processing facilitates tax recovery and meeting audit requirements. Travel and expense patterns can also be tracked, allowing for more accurate budgeting; while transparent processes reduce the time taken to reimburse expenses.
Darren Beal, Portfolio Director at TMF Group explains: "InternationalXpense is unique in the market. We have designed a global standard template that is customisable, making it suitable for small local companies through to larger companies that operate in multiples jurisdictions. It assists finance teams drive compliance and prevent fraud; as they have visibility over travel spending, can control costs and enforce company policies"
InternationalXpense is accessed through web and app technologies, with no specific IT infrastructure requirements to set up or manage the system.
The intuitive interface has assisted data entry; employees can itemise claims for a range of pre-determined expense categories, claim mileage, country specific allowances, enter the cost in local currencies and separate the cost of tax. Receipts are electronically uploaded against each claim ensuring a paperless process. To support validation and approvals, TMF Group leverages its global reach, and InternationalXpense offers a receipt checking service in local language within the 84 jurisdictions that it operates.
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