From submitting expenses and defining approval workflows to automated reconciliation and employee reimbursements, your spend management operations likely “include many people and processes, and they need a solution that can address your financial needs,” the team at Payhawk notes.
Payhawk wrote in a blog post that “when it comes to keeping it all connected for the sake of solid company finances and good visibility – you can’t afford clumsy mistakes and clunky processes.”
Payhawk explains that the right spend management features will “help give you seamless processes that can transform how your organization manages spending.”
Features like the small but mighty “image rotation” feature improve UX and increase efficiency to keep you agile and in control.
At Payhawk, they aim to deliver a seamless reconciliation solution for organizations, big and small, saving them time and crushing errors from start to finish.
Carolina Einarsson, Finance Director at Essentia Analytics, explains:
“Using Payhawk has been a game changer; we close our month twice as fast, and we’ve even been able to allocate resources to revenue-impacting teams directly. We have an employee in the finance team who now spends half of her time working as an SDR.”
Payhawk says its image rotation feature only enhances the user experience of their expense stack, which includes:
- OCR technology and AI camera: Our camera uses artificial intelligence and optical character recognition (OCR) to instantly extract expense data, minimize expense mistakes and speed up the entire expense process.
- Receipt approval workflows: No matter how complex your organizational structure is, build custom approval workflows for specific teams, entities, or specific expense types. Ensure agile expense management, empowering employees to spend accountability while managing every penny from afar.
- Real-time reconciliation: Manually reconciling your accounts can drain hours of resources. However, with real-time reconciliation, spending and transactions match automatically. Payhawk will automatically flag unmatched expenses, allowing further investigation. This can reduce expense fraud and improve accuracy and spending visibility.
- Faster reimbursements: Because the entire expense process benefits from automation, reimbursements are more accurate and faster, improving everyone’s experience.
Payhawk says that they implement new features and update existing ones frequently.
