Serko Rolls Out Expense Management Tool In North America
Corporate travel and expense management solution provider Serko has launched its Zeno Expense tool in North America, giving customers a new option for B2B travel management, a press release on the company website stated, alongside the company’s Zeno Travel tool that was already available.
In response to the shift to working from home, Zeno Expense offers expense leaders tools to help sort through company travel management, which has become less clear cut than when employees were working from offices in pre-pandemic times, according to the release.
Users can access real-time spend management, capturing receipts and submitting expenses as soon as they come in, with managers able to review expenses line by line. That lets leaders adapt and enact policy changes proactively rather than trying to curb spending in a reactive way, the release stated.
End-of-month expense reports, which the release called “dreaded,” can be done away with as paper processes aren’t used and reconciliation is always happening as a 24/7 process.
And, the release noted, costs can be cut due to automated processing and auditing, which can boost efficiency. The cloud processing for receipt data works to cut down on expensive errors in data transposition, for example.
In addition, the automated insights can offer proactive insights on out-of-policy or duplicate expenses. That can help with fraud or over-spending, the release stated.
“With COVID impacting businesses in a multitude of ways, our team at Serko has renewed our dedication to deliver a solution that makes it easier for all stakeholders — from expense filers to finance leaders, answering the challenges of today and into the future,” said Serko CEO Darrin Grafton in the release. “We are thrilled to bring Zeno Expense to the North American market, helping new clients succeed during this challenging time.”
Expense management already had issues before the pandemic. Many companies reimburse employees for company purchases after they’re made, which gives no insights on what was spent. The pandemic’s economic slowdown has only compounded those issues.