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Oracle Fusion Expenses is an expense management solution that will automate many of your travel spend management processes. The system will also establish controls for reimbursement of expenses. Oracle Fusion Expenses, is part of Oracle’s Fusion Financials.
Easy data-entry for staff will ensure that detailed information required by managers is always acquired. Online, mobile, and spreadsheet entry options reduce administrative headaches while still capturing essential data for effective cost management. Online and mobile expense approval will reduce the time spent manually managing expense approvals.
Oracle Fusion Expenses provides your organization with the tools to effectively manage the travel and expense process. With flexible payment options, versatile data entry methods, and personalizable user preferences, Oracle Fusion Expenses will allow you to submit, approve, process, and pay expense reports quickly. This will all be done while enforcing transparent, tight controls throughout your expense management process.
The key to managing your organization’s travel spend is having accurate and actionable information when you need it. Embedded analytics will give your managers the relevant content needed to make the right decisions when approving or auditing reports.
Simplify Expense Reporting and Increase Compliance
Oracle Fusion Expenses offers extensive functionality to increase workforce productivity and satisfaction. For example, employees can enter and submit expense reports quickly and easily using integrated corporate card transactions along with cash expenses. Pre-populating reports with these transactions makes expense entry faster, increases data accuracy and reduces opportunities for fraud.
After expense reports are submitted, users can also withdraw submitted expense reports to make corrections and resubmit the correct report for approval. To support the need for entry on behalf of others, authorized delegates can enter expense reports for employees or get approval authority for a specified time or even indefinitely.
To adapt to the emerging ways in which mobile users work, Oracle offers another entry method for expense capture while on the go. Fusion Mobile Expenses is your comprehensive mobile expense management solution. It supports common features such as photo capture of receipts, voice capture to record expenses, as well as multi-currency and location based on your GPS location. Other innovative features use your contacts and calendar on your smartphone to select attendees for a meal or other expense while capturing the receipt on the spot. No more paper receipts to track; no more sticky notes to remind you when you’ve paid in cash. It’s all in your smartphone so you can easily sync with Oracle Fusion Expenses for expense reporting.
Incentives and rebates from your corporate card supplier can also result in significant cost savings. By automating entry, expense reports will be submitted more frequently and your organization can receive earned corporate rebates. Itemizing hotel bills and taxes gives your organization the granular data needed for detailed spend analysis.
Improve Employee Productivity
Oracle Fusion Expenses integrates directly with Oracle Automated Invoice Processing for digital receipt management for expense reporting. These digital receipts can also be stored centrally for easy retrieval and review by managers and auditors.
Not only can employees submit digital images for faster reimbursement, it also gives your organization the flexibility to use a single digital solution across multiple business functions. Oracle’s robust solution for expense management can dramatically improve employee productivity and enhance user satisfaction.
Control Expenses with Flexible Audit Tools
Establishing enterprise-wide policies for travel expenses and automating the review of reports for compliance are industry best practices for effectively managing travel spend. The ability to set policies, automate audits and analyze expense trends will allow you to shift from reactive maneuvers to proactive metrics. This three-pronged approach helps you effectively manage your enterprise spend for travel and business entertainment.
Mining expense report and policy violations helps you to identify gaps in your travel policy and potential areas of fraud. When you give updates to management on your travel program, you have confidence that the information will help decision makers when forming new policies and evaluating employee compliance.
Recognizing the need for flexibility, Oracle Fusion Expenses gives you a number of reporting options. It will allow you to view expenses by management hierarchy, by expense category, or by policy violation types and frequency. Embedded analytics give you immediate visibility to the top spenders in your organization, complete with drill downs so you can review detailed expense receipts and expense policy violations.
"Oracle Fusion Expenses" is part of the Oracle ERP Cloud line of products, developed by Oracle.
Oracle ERP Cloud is a horizontal product. It offers functionality designed for usage across a wide variety of industries and business types.