Are you tired of the hassle of manual categorization? Want to enjoy accurate expense allocation with ease? If your answer to these questions is yes, then you need to check out Gorilla Expense’s Code to Dimensions feature.
With this feature, users can pick the right department or business unit for each expense they enter. It also allows you to maintain and enable multiple dimensions similar to the ones configured in the accounting system. The application is flexible enough to allow for the maintenance of a mapping between these dimensions. Organize and sort your expenses by department, business unit, and cost center.
Allocate expenses to business units effortlessly with accurate expense categorization.
Effortlessly select cost centers based on business units with simplified cost center selection.
Assign expenses to auto-populated cost centers seamlessly through streamlined expense mapping.
Track and report your expenses based on different dimensions to gain accurate insights into your company’s finances. Want to know more about this feature? Read our detailed guide here.
Gorilla Expense has been working tirelessly to provide you with the best-in-class, and hassle-free features that make your expense management process easy like a breeze.
As the world of business continues to evolve, so too does the role of the CFO. In the past, CFOs were primarily responsible for managing the company’s finances. However, today’s CFOs are increasingly involved in shaping the company’s spending culture.
Spending culture refers to the way in which a company approaches spending money. It includes the company’s expense policies, the way in which employees are reimbursed for expenses, and the overall attitude towards spending within the company. With rumors of recession and widening income parity, it is more important than ever for businesses to have a united spending culture. This will help businesses to weather the storm and emerge stronger on the other side.
Deloitte’s categorization of CFO orientations—responder, challenger, architect, and transformer—offers valuable insights into the distinct impacts these orientations can have on an organization, specifically its spending culture. While each type brings a unique approach to strategy development and execution, here are my assumptions about how these orientations may influence spending culture based on their core characteristics.
Responder: CFOs with a responder orientation are likely to impact spending culture by emphasizing accountability and data-driven decision-making. By focusing on quantitative analysis, they can shape spending culture by establishing clear guidelines and metrics to evaluate expenses, promoting a culture of financial responsibility and efficiency.
Challenger: CFOs with a challenger orientation play a pivotal role in minimizing risk and ensuring returns on capital investments. By critically examining the risks and expected returns, these CFOs promote a culture of rigorous evaluation and scrutiny when it comes to spending decisions. They may encourage a conservative approach to expenses, requiring justifications and business cases for significant expenditures, and fostering a culture of prudence and financial discipline.
Architect: CFOs with an architect orientation collaborate closely with business leaders to shape strategy choices and maximize value. In terms of spending culture, they may emphasize the importance of strategic investments and foster a culture that values long-term value creation over short-term cost-cutting.
Transformer: CFOs with a transformer orientation act as lead partners to the CEO, actively shaping and executing future strategy. They may challenge traditional spending norms and encourage experimentation to achieve growth and profitability.
It’s important to note that these assumptions are generalizations, as individual CFOs may exhibit characteristics from multiple orientations or adapt their approach based on the organization’s needs. The impact on spending culture will depend on the CFO’s ability to effectively communicate their vision, gain buy-in from key stakeholders, and create alignment between financial strategies and organizational goals.
It is crucial for CFOs to pay attention to spending culture, as a poorly managed culture can lead to unnecessary costs that impact profitability. Traditional expense policies often constrain employees, leading to confusion and frustration. To foster a positive spending culture, CFOs should design policies that align with company culture, support strategic goals, and empower employees to make responsible spending decisions. There are a number of things that CFOs can do to shape their company’s spending culture. These include:
Setting clear expense policies. The company’s expense policies should be clear and easy to understand. They should also be fair and consistent.
Encouraging employee participation. Employees should be involved in the development of the company’s spending culture. They should be encouraged to share their ideas and suggestions.
Setting a good example. CFOs should set a good example by spending money wisely. They should also be transparent about their spending habits.
Using technology to manage expenses. There are a number of technology solutions that can help companies to manage their expenses more effectively. These solutions can help to track expenses, identify areas where savings can be made, and improve compliance with company policies.
Building an expense management culture requires aligning spending practices with company culture.
Netflix: Netflix’s expense policy is only five words long: “Act in Netflix’s best interests.” This policy reflects the company’s high-trust environment and its expectation that employees will spend company money wisely.
Basecamp: Basecamp has no spending limits or pre-approvals for expenses. Instead, employees are trusted to manage their own expenses responsibly. This approach has led to significant cost savings for the company.
Salesforce: Salesforce uses a customer relationship management (CRM) system to track and manage expenses. This system gives the company real-time visibility into its spending, which helps it to make more informed decisions about where to allocate its resources.
These are just a few examples of how CFOs can shape spending culture. By taking a thoughtful and strategic approach to this issue, CFOs can help their companies to save money, improve profitability, and create a more efficient and productive workplace.
In times of economic hardship, it is more important than ever for businesses to have a united spending culture. This means that everyone in the company should be aware of the company’s spending policies and should be committed to spending wisely. A united spending culture can create a more equitable workplace. When everyone is aware of the company’s spending policies and is committed to spending wisely, it can help to create a more level playing field for employees. This can help to reduce resentment and build a more cohesive workforce.
The role of the CFO in shaping spending culture is likely to become even more important in the future. As businesses become more globalized and complex, the need for clear and consistent expense policies will become increasingly important.
CFOs who are able to successfully shape their company’s spending culture will be well-positioned to help their companies achieve their strategic goals.
Dividing costs among several departments and cost centers is challenging. But not when you have Gorilla Expense’s Split Feature. This feature allows you to split a single expense into multiple expenses for different expense types and departments, cost centers, or projects.
It also enables the user to split either by amount or by percentage as per the requirement of the user. This makes expense management a hassle-free process for the user and the management team.
Check out ‘How to use Split Feature on Web Application’ here.
Gorilla Expense aims at fulfilling the needs of its client by introducing seamless, efficient, and accurate features, thereby being committed to its mission of helping its client stay ahead of the curve.
*ting* You received a notification from Gorilla Expense! Put behind the hassle of constantly checking and re-checking the status of your reports or timesheets. Get notified immediately by receiving email or text message alerts when:
Your timesheets or reports are accepted or refused
Credit card expenses are imported
Your reports are exported for payment
Get instant reminders to submit and approve reports and timesheets, as well. Gorilla Expense’s expense reporting solution keeps you informed every step of the way.
Simplify your workflows and see how we can help you manage your expenses with ease. At Gorilla Expense, we work tirelessly to provide our clients with the best-in-class features that help boost productivity.
Are out-of-hand expenses driving you crazy? Well, not anymore! Introducing the Receipt Policy Feature. With this feature in your system, ensure that your employees are following all applicable laws and regulations, therefore enforcing compliance.
The Receipt Policy Feature by Gorilla Expense ensures that employees either attach receipts or justify the missing receipts when the amount limit exceeds.
As a result, bogus claims are prevented and rules and regulations are ensured.
All of this is fruitful only when an effective receipt policy is created. Learn how to create an effective receipt policy.
Over the years, Gorilla Expense has been working tirelessly on creating seamless and efficient features that let you manage expenses like a pro. To know more about such features, click here.
Are you dealing with antiquated mileage monitoring techniques that reduce your productivity? Put an end to this outdated way and switch to a seamless Mileage Capture Feature by Gorilla Expense.
Gorilla Expense‘s automatic mileage capture feature effortlessly documents every mile, making your mileage tracking a breeze. Want to know how you can make your mileage tracking quick and efficient? Just follow these three simple steps:
Maintain mileage rates for various bands that include combinations of Distance and Engine Size.
Assign the user on the user profile the Engine Type and indicate what type of mileage they will be doing.
Once the user enters their start and end point, our system will recognize the route, calculate the distance, and instantly update your expenses.
Admins as well as users can run a report to see how many miles are consumed for the selected date range. Tracking mileage is now easy, seamless, and accurate – just the Gorilla Expense way. To learn more about Mileage Range, read our blog here.
At Gorilla Expense, we believe in stamping out difficulties that make expense management a hassle and hinder employee productivity. Reconstruct your expense reporting and expense management systems with us.
Are spending limits and policy compliance being followed throughout your organization? If not, then get ready to break free from the shackles of complex expense policy and take control of expense compliance with Gorilla Expense’s Expense Policy capabilities. This feature allows you to:
Set Spending Limits For Different Categories
With our Expense Policy feature, you can easily define spending limits for different expense categories, ensuring compliance across the board.
Explain Flagged Violations
If a user exceeds the predetermined limits, our system flags it as a violation. The user provides an explanation, promoting transparency and accountability.
Get Instant Alert
Approvers are instantly alerted to violations, allowing them to review explanations and make informed decisions on expense approvals.
Customize Limits, Getting Ultimate Control
Gorilla Expense gives you ultimate control with customizable limits. Set amount limits for each expense and require additional approval for larger expense reports.
Set Budget Limits
Take it a step further with budget limits at expense type and project levels. Ensure spending aligns with your organization’s goals and budgets.
Switch to Gorilla Expense and experience a seamless integration of expense policies that help organizations combat fraud and errors by enforcing compliance. Join the League of Businesses empowered by Gorilla Expense and reconstruct your expense reporting and expense management systems.
Cortex, a vibrant economic engine for the city of St. Louis, is a dynamic space dedicated to fostering innovation and driving inclusive economic impacts. As a collaborative initiative founded in 2002 by Washington University in St. Louis, BJC HealthCare, the University of Missouri – St. Louis, Saint Louis University, and the Missouri Botanical Garden, Cortex has emerged as a globally recognized hub for innovation and entrepreneurship. Cortex’s mission is to accelerate inclusive economic growth by providing high-quality facilities, knowledge-building programs, and strategic partnerships that support emerging and established companies. In pursuit of operational excellence, Cortex sought to streamline its expense reporting processes and enhance financial management capabilities.
The Problem: Streamlining Expense Reporting for Operational Excellence
As Cortex continued to thrive and attract a diverse range of companies, the need for efficient expense reporting became evident. The reliance on manual and outdated methods, such as spreadsheets and scanned receipts, hindered productivity and created inefficiencies. As Cortex continued to attract a diverse range of companies, it became evident that a more streamlined and automated approach was necessary to optimize workflow efficiency, reduce costs, and support the seamless growth of resident companies. Moreover, the limitations and shortcomings of their system became apparent as it failed to meet Cortex’s evolving needs for advanced features and scalability.
The Solution: Leveraging Automated Expense Management for Seamless Efficiency
Cortex identified Gorilla Expense as the ideal solution to overcome its expense reporting challenges and achieve operational excellence. The decision was driven by Gorilla Expense’s reputation for delivering a user-friendly experience, seamless integration capabilities with Sage Intacct, and cost-effectiveness.
The implementation process with Gorilla Expense, seamlessly integrated with Sage Intacct, was smooth and efficient. The Cortex team found the Gorilla Expense support team to be highly responsive and dedicated to ensuring a seamless transition. Customized configurations were put in place to align with Cortex’s unique requirements enabling a tailored expense management solution that complemented their financial operations.
Since implementing Gorilla Expense Cortex has experienced significant improvements in expense reporting efficiency and financial operations. The automation of expense management processes has streamlined workflow, eliminated manual errors, and reduced the time and resources required to process expense reports. Cortex’s staff can now seamlessly synchronize expense data with Sage Intacct in real-time, enabling accurate reporting, data-driven decision-making, and improved financial planning.
The cost savings realized through the implementation of Gorilla Expense have further strengthened Cortex’s commitment to operational excellence. By reducing manual effort, eliminating paper-based processes, and streamlining expense tracking, Cortex has achieved tangible cost savings, redirected resources, and ensured compatibility and scalability to support its core mission of fostering innovation and economic growth.
The user-friendly interface of Gorilla Expense, integrated with Sage Intacct, coupled with the ability to default coding based on previous entries and the ease of adoption, has simplified expense categorization, improved accuracy, and increased user satisfaction, ensuring a seamless and efficient expense management experience.
Gorilla Expense is thrilled to join Velosio’s Virtual Biz-tech Conference Aspire 2023 as sponsors AGAIN!
Yes, the one-day virtual event is back. Dive deeper into understanding the latest trends and advancements in Power Platform, Microsoft Dynamics and Digital Transformation as seasoned experts from various industries help you navigate the world of digital transformation.
Join leading industry experts to explore the infinite opportunities with Dynamics 365 and navigate the world of AI applications.
Gorilla Expense will not only contribute as a sponsor but will also be hosting an exclusive session on streamlining and simplifying expense management in this ever-evolving dynamic environment. Unlock exclusive insights to harness leading technology and fuel your business’s expansion with Gorilla Expense’s advanced expense management solution.
Tired of complex expense approval processes? Look no further than Gorilla Expense‘s dynamic approvals that streamline the process and make compliance easier. Following are the three types of approvals that will help make your approvals process easier, simpler and faster:
MULTI-LEVEL APPROVALS
Multi-level approvals send entire reports through a chain of approvers defined on the user profile. Assign the timesheets to single or multiple approvers and save the details. Once the status turns to All Levels Approved the employee will be notified that the timesheet has been approved at the final level and then the timesheet will be available to AP/Accounting to be pushed to the Accounting system.
Check out how to assign timesheet approvers on the user profile here.
MULTI-LEVEL APPROVALS WITH LIMITS
Multi-level approvals with limits give you added control by only sending reports through additional levels of approvers if the total on the expense report exceeds a certain predefined limit.
Check out how to assign expense approvers on the user profile here.
LINE-LEVEL APPROVALS
Line-level approvals assign different approvers based on the project for each expense line, making the process even more flexible. The system will provide the user the option to select one of the many projects they are connected to when they make a cost. Each line of the expenditure report will be forwarded to the appropriate project manager from the user-selected project after submission for approval.
Check out the prerequisites required for line level approvals to work here.
Gorilla Expense works tirelessly to create seamless, efficient and effective features for the ease of its clients. Simplify your workflows and see how we can help you manage your expenses with ease.