Spend management software is the solution for companies that need to gain control over payable invoices, expense reports and organizational purchases. The Expense Reports, Purchasing and Payable Invoice modules from ExpenseWatch.com will help companies manage and control spending, while improving visibility into company spending processes.Online access to spend management software offers flexibility for employees to document and submit company-associated spending from any Internet-connected device. Electronic expense reports and purchase requests can be entered quickly, and submitters can see right away if the spend is within company policy. The automatic controls built into ExpenseWatch.com will assure compliance to these spending policies. This helps in turn to discourage attempts to defraud the company.
Easy access to submitted expense reports, purchase requests and payable invoices allows approvers and managers to assess how company funds are being appropriated and make approval decisions in real-time. This speeds up the reimbursement process for expense submitters, and the order process for requesters of goods and services. All approved spending transactions integrate with an organization’s accounting system, eliminating the need to rekey any information. Expense data is seamlessly integrated with your companies accounting system, eliminating the need to rekey information.
Online purchase order software applications can be the answer to making the process of obtaining the products your company needs easier than ever before.Experience the convenience of developing purchase invoices using web-based catalogs with built-in search capabilities. When approved, your purchase requisition can be effortlessly converted to an online purchase order. Automation of this entire procedure promotes greater efficiency within your business, as it speeds transaction time and minimizes steps to complete online purchase orders.If you are searching for ways to better manage your company’s expenses, ensuring that business funds are being appropriated in accordance with established policies is high on the list of priorities. A key component of wise financial management in this regard is online purchase order creation with ExpenseWatch.com’s web-based purchasing solution. This innovative software tool makes requisition procedures quicker for requesters who are put in charge of making company purchases.Your company-approved vendors will be accessible to all of your requesters, and the process of product and service procurement will be documented every step of the way.
Following completed appropriations, requests are made available to designated company approvers to authorize or reject the transaction. All parties involved in the transactions will be notified via e-mail. Once requisitions are approved, they are easily turned into online purchase orders which can be sent to vendors to fulfill the order request.One of the most attractive features of ExpenseWatch.com’s online purchase order system is the built-in flagging of purchases made that do not comply with company purchasing guidelines. In this manner, you conveniently are able to guarantee that issues like fraudulence and mismanagement of funds are identified in time. The ExpenseWatch.com online purchase order system makes every part of the procedure easy to monitor, track and document.
Having payable invoices online enables companies to more easily track what is owed to vendors. The online system gives companies vital information so they can take advantage of early payment discounts and ensure payments are received on time. Company executives have real time information at their fingertips to know how much money is needed to meet upcoming obligations. This enables them to stay in control of cash flows and can help them make better decisions about the timing of when goods and services should be ordered. Financial administrators will appreciate the efficiency of a fully managed online purchase order software solution to minimize unapproved procurement, thwart attempted fraud and make report creation as easy as a few mouse clicks.
The trend of data breach is increasing significantly. The proof such increment in the information leakage incidents is the rise of almost hundred percent in a year as compared to 2011. The interesting fact is that, in the year of 2012, there were 2,644 cases if record breach that leaked nearly 267 million records as compared to the 412 million records that breached in 2011. There was an increase in the incidents of data breach, but, a massive decrease in the number of records breach. As per a bit of number-crunching by the Open Security Foundation that works for data breach and data loss consultancy that the majority of the records breached came from Shanghai Roadway by, a Chinese unit Dun and Bradstreet. It was later revealed that 4 employees in this act, they used to sell a record for 23 cents and they sold about 150 million records. The sum they generated was really a huge one. It was also found that there were hackers in the majority of the data breach incidents that took place last year. Once again the statistics that the world got were surprising; hackers were responsible for almost 1,802 information leakage incidents that were about 68 percent of the total cases that occurred. Still, the records that got compromised through these breaches were only 22 percent approximately. Experts have always rated insider threat as the biggest threat to data security after cyber criminals’ peril. The experts have proven once again right as 19 percent of all the data breach incidents have been occurred due to the insider employees.
There may be intentional or unintentional information leakages, but, the astonishing factor is that, about 66 percent of the records were leaked by the own employees of the company. The percentage of data leaked through insider source was as; 7.1 percent of the data was leaked through the mal insiders like Dun and Bradstreet, another 8.9 percent record got compromised incidentally that leaked nearly about 5 percent data. As data is basically theft to perform different types of fraud. The most common type of fraud is through entering a user ID and password, that is why it is the information that have stolen in more than almost 44 percent of data leakage incidents. Credit card numbers contributes 6.4 percent in the total numbers of records breach; the theft of credit card numbers often harms the user the most. It hurts the owner of the credit card big time.
The above given statistics are quite horrifying as it can make you a victim of online fraud as well as it can haunt you for ages. To avoid these scary incidences of records breach, you need to use software that act as a digital File Lock for your data. It has become obvious to keep tight security for your sensitive records in to avoid gigantic losses. Users should take precautions that data security experts advise them, such as; avoid using public wi-fi connections, do not share anywhere on the web and some other advices. Keeping your information secure is like keeping your wealth, goodwill and peace of mind protected.