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O

fEx

Improve business expense management

with advanced technology

Get a detailed analysis of where, when, and how your business is spending, and automate the expense management process for your business

Get a detailed analysis of where, when, and how your business is spending, and automate the expense management process for your business

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How does it work?

OfEx makes sure that your business expenses are paid on time
OfEx makes sure that your business expenses are paid on time

Budget and Advances

Set budgets for each department or function and provide advances as per projections and past usage

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Hierarchy and Controls

Use proper controls using department hierarchies to manage your expenses with ease and without delays

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Reimbursements

Keep employees happy and ensure uninterrupted business-related activities with streamlined reimbursement processes

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Policy and Approval Flows

Choose an approval matrix (auto, multi, custom, hierarchical) that works best for your business to create and maintain an aligned approval process for all kinds of spends

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Scan and Drop Receipts

Leverage OCR for digital receipt management, reporting & reconciliation

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Unlock the power of streamlined 

expense management 

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Streamlined

Approval Flow

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Faster

Reimbursements

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Increased

Visibility

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The EnKash way is 

the better way

Switch to EnKash today!

Expense

Reporting

Operational

Efficiency

Spend

Overview

Expense

Approvals

Accessibility

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Traditional expense reporting was paper-based and managing it consumed a lot of manhours, leading to discrepancy in data
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EnKash’s OfEx platform automates the expense recording, leading to zero errors.

Total

Control

Gain control over your business spends with a complete overview of all your expenses. Analyze data to create efficient budgets, optimize expenses and increase your savings.

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Streamlined process

Effortless expense submission and approval process supported via WhatsApp

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Smart

Audits

Automatic expense data extraction with OCR technology and smart audit alerts for duplicate entries by submitters and approvers

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Real-Time Alerts

Enforcing expense policy compliance and fraud risk reduction with real-time alerts across the approval hierarchy

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Customized Approval Flow

Empowering businesses to create customized expense approval processes based on employee roles, expense categories, hierarchy, and single or multiple levels

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Credit Card Integration

Seamless integration with corporate credit cards, enabling businesses to track and manage credit card expenses

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HRMS and ERP Integration

Seamless Integration with HRMS, accounting softwares like Zoho, Tally, Quickbooks, and ERP Systems- SAP and Oracle Netsuite, for automated data exchange and elimination of manual data entry and reconciliation

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Custom Reporting

Rich business intelligence for custom reports, insights dashboard, and expense analytics for informed decision-making

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Learn how OfEx can revolutionize the way you work!

Read Blogs

Spend Management Platform: An Expense Management Strategy

Spend Management Platform: An Expense Management Strategy

Aug 03, 2023

When you think about working capital management or spend management platform, you think of managing expenses that are incurred in your business over a quarter of a year...

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Gain Valuable Insights into Your Finances with Expense Management

Gain Valuable Insights into Your Finances with Expense Management

Apr 07, 2023

Managing expenses is an essential aspect of personal and professional financial management. Keeping track of expenses can provide valuable insights into your finances, including where...

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Improve Your Cash Flow with The Best Expense Management Software

Improve Your Cash Flow with The Best Expense Management Software

Feb 22, 2023

The foundation for any business’s efficient operation consists of creating precise budget, keeping close check on the business expenses, and streamlining cash flow. We cannot overstate...

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Got Questions?

Don’t worry! Our FAQs section will help you learn about expense management in detail

How does OfEx help with budgets and advances?

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Create budgets on a departmental or category level, track and optimize expenses, and increase savings regularly. Use data from past budgets and actual expenses for each department, along with the information from department heads on their plan for the financial period ahead, to create a realistic budget.

What is the role of hierarchy and controls in managing expenses?

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Setting up hierarchies and controls ensures that expenses are monitored, checked, and approved before the payout is completed. With the platform, it is easy to choose from the various options or create a hierarchy that suits the departmental structure, the expense type, and the urgency of spends.

How does OfEx help improve reimbursements?

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Fast-track and optimize the entire reimbursement process with a better spend overview. In most businesses, employees often have to make payments for official purposes, and these need to be reimbursed. Since reimbursing official employee payments requires checking and verifying the paperwork and approving the expense, it can be time-consuming.

What is expense management software?

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Expense management software is a complete solution that helps you manage the entire process from receipt to reimbursement. You can track all types of expenses that your business and employees incur. It will help you track advances provided, expenses incurred, receipt management, policy checks, approvals, and reimbursement. Plus, it enables you to collate expenses into reports & insights per stakeholders’ needs.

How do you manage expense reports?

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EnKash's expense management software simplifies expense report management by capturing expense-related information at every stage. It parses through information from receipts and invoices, matches them with expense details, and stores them securely in the cloud. It also allows users to sort expenses by type, department, or other criteria to generate reports as needed. Additionally, it hosts a deep insights dashboard for all types of reporting across departments, categories, cost centres for defined intervals.

What are the benefits of expense management?

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Expense management offers many benefits, which include:

  • Helps manage costs related to the business with efficiency

  • Ensures that expenses don’t exceed set budgets

  • Allows you to meet compliance and risk management requirements

  • Reduces fraud and speeds up reimbursements to improve employee morale

  • It lets you refine and implement the company expenses policy

How do you manage employee expenses?

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Issuing virtual cards with spending limits is an effective way to manage employee expenses. Other general steps for managing employee expenses include:

  • Creating and sharing an expense policy

  • Setting budgets for each type of expense and designing approval hierarchies

  • Implementing easy expense reimbursement processes to enable quick submission of expense-related documents

  • Ensuring all approvals are in place before reimbursing expenses

  • Tracking expenses at all levels to ensure spend is within budgets

What is an employee expense management system?

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An employee expense management system helps you manage employee expenses from end to end. Whether it is in advance for expenses like travel and entertainment, subscription costs, etc, that an employee undertakes on behalf of the company. The expense management system ensures that all expenses incurred for the business are valid, correct, and reimbursed on time.

What is an example of an employee expense?

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A good example of employee expense is when an employee travels for business-related work. For instance, if a salesperson travels to another city for product demo and selling, the employee can either take an advance for the same or pay from his pocket and get the amount reimbursed later using the relevant documents.

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Seeking further understanding of OfEx?

Manage your office expenses like never before!

Expense management is the process of working around a company’s budget and expenses, managing approval, reports, and reimbursements raised by employees.

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What are the different types of expense management?

Expense management can be divided into the following categories.

Advance and adjust expenses:

Employees draw advances for business expenses, submitting supporting documents for reimbursement. Advances may be replenished as needed.

Spend and claim reimbursement:

Employees pay expenses upfront and claim reimbursement with approved paperwork, ensuring a seamless reimbursement process.

Ordering, invoicing, and payment:

Ideal for planned purchases, this involves raising a request, procurement sourcing vendors, and payment upon completion, ensuring efficient expense control.

Ad-hoc and emergency:

Senior employees with discretionary powers can incur and get reimbursed for ad-hoc or emergency expenses.

Advanced card and spend management platform:

Utilizing virtual cards, this platform supports all expense management types, offering complete control and visibility over expenditures.

Why is expense management important?

Expense management is crucial to ensure that the business's financial health is at an optimum level. Here are some aspects that are affected by expense management.

  • Expense management is crucial for maintaining optimal financial health
  • It helps businesses control costs, improve cash flow, and mitigate risks
  • It ensures compliance with regulations and enhances employee morale
  • It helps businesses pinpoint unnecessary spending and control costs, improving profit margins

What are the challenges in the expense management process?

When the expense management process is manual, there could be some challenges that include the following:

  • Poor visibility into data around expenses and manual errors or missing data
  • Complicated work processes and poor expense reporting processes
  • Instances of fraud and increased risk
  • Lack of compliance with expense policies and poor visibility into budgets
  • Poor employee morale due to complicated reimbursement processes

What is an expense report?

An expense report is an itemized report that contains the details of expenses that have been incurred and paid for on behalf of the company. An employee or a department can create an expense report to showcase the expense details and categories they have incurred for a particular period.