Audit

Audit

Empowering auditors with a secondary look through innovative expense software

DATABASICS’ Audit Module is a powerful auditing solution that provides auditors with a second look at expense report details, reports, and receipts. Expense reports can be audited at any time, whether before approval or after reimbursement, and auditors need no special training to use DATABASICS Audit. It’s really that simple and intuitive.

Expense Report Audit

Streamline audit reviews with our expense report audit solution

According to an April 2015 Aberdeen Group report, companies need automation more than ever, especially when it comes to the laborious and costly auditing process. Of those surveyed, “57% have poor visibility into spend & compliance, 38% need to reduce expense processing costs, 35% have no control over T&E spending, and 20% need to eliminate manual & paper processes.” The DATABASICS audit solution is the answer to all of these challenges. Let the software do the heavy lifting, freeing you up to do the higher-level thinking about spend, processes, and how to make your money go farther.

Key benefits for approvers include:

  • Pre-trip authorization: Ensure policy compliance by requiring estimates before trips are authorized, then compare the estimate to the actual expense
  • Approvals & workflows: The approval process is streamlined
  • Automation: Receipts and transactions are matched automatically and duplicates, mismatches of transactions, & receipts are flagged too
  • Policy compliance: Expenses automatically are validated against policy
  • Increased end user satisfaction: Employees are more satisfied when the expense report process is simpler and more streamlined

Auditors will see these key benefits:

  • More control: View the audit trail of end users, system administrators, and everyone in between
  • Actionable insights through reporting: Get actionable intelligence into the effectiveness of your policies
  • Decreased in-house labor: Feel secure outsourcing your audits with special security provisions for subcontracting
  • Ad hoc investigations: Program a particular percentage of reports for automatic review
  • Reporting for your needs: User-definable criteria for report selection, including by role (e.g., executives), organizational unit, date range, policy violations, spend thresholds by expense type or total spend, by sequence, count, or by random sample
  • Audit workload distribution: Workloads can be efficiently and fairly distributed among the auditing team
  • Policy categorization: Color codes designate priority (red, yellow, & green) so that auditors know where to spend more time
  • No additional training: No special skills are needed to perform efficient, accurate audits
  • Notifications and reporting: Auditors and end users get updates and alerts as their reports move through the system
  • Additional security provisions: get detailed logs of abnormalities like log in attempts (IP address and location)

Transaction & process auditing that impacts your bottom line.

Analytics apply to both transaction validation and your process itself. Our auditing module provides tools for both, to inform you of employee trends and keep you aware of how policies need to evolve and change.

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Talk to a time & expense specialist about your auditing needs today!          Contact The Experts