hr app Archives | Novative

What to Look for in an Expense Software

Patricia Maniscalco — Tue, 10 Nov 2020 08:48:30 +0000

Since computers and modern technology have become an integral part of our daily lives, businesses have caught up with the trend towards digitalisation of processes. We believe this process has definitely been slowed down by the reliance of using Excel spreadsheets for everything. But now it is time to minimise manual processes and streamline HR by using efficient software. When it comes to expense management, there are many options, but which one should your company choose?

We’ve collected some expense software functionalities that are worth considering before you rush head over heels into a solution that is not suitable for your business.

FIRST STEP: UNDERSTAND YOUR BUSINESS NEEDS

Before implementing an expense software, you need to understand the needs and requirements of your business. Every industry, company and department will use expense software differently, but also less or more often. Therefore, understanding the current pitfalls of manual expense management is critical to a successful implementation. Many companies are faced with the following issues:

Tedious process of administration of various Excel spreadsheets
Time-consuming processes to submit receipts, approve & reject expenses and align it with accounting processes.
Incorrect or late submission of expense reports
Avoidable reimbursement mistakes causing overspending

These difficulties can make expense processes and reimbursements take up valuable time. This time could be better used for other tasks within the business.

WHAT TO LOOK FOR IN A SOFTWARE

To free yourself from manual processes and solve all the problems you may currently face, it is important to choose the right software for your business, which offers all the features you may need in the future. Check out the following Expense Software functionalities that are definitely worth considering to avoid future problems.

Compatibility with Multi-Currency

Business trips to the USA and China, offices in Switzerland and Japan: this requires your expense software to be able to process different currencies. This is an important feature to consider throughout the entire process up to and including reimbursement. If this feature is not available in your chosen software, your team will have great difficulty in reimbursing employees correctly and will face problems that are not easily solved.

Digital & Simple Approval Process

If you manage expenses manually using an Excel spreadsheet, you must collect all receipts in paper form and send them together with a data sheet to the responsible manager for approval. With proper expense management software, you should not have to bother with this. With the right software, you can assign different roles and access rights to different team members and notify them immediately when a step is required to continue the expense process.

No Need for Hard-Copy Receipts

Collecting receipts & making sure that no receipt is missing to accuratly reimburse employees and keep the accounting department happy should be your past. With a proper expense software employees should be able to immediatly take a photo of the receipt, categorize it and submit it. This makes the process more efficient and environmentally-friendly but also allows for a quicker approval or rejection process. The result? Employees will be happy to see the money back in their bank accounts in no time.

Real-Time Optimised Expense Monitoring

Keeping to a budget and monitoring expenditures can be a tricky task when an excel spreadsheet needs to be updated daily. Errors won’t be far away. With the right expense management software this should be obsolete. The software should have a function that allows you to set a budget and oversee easily when the budget is reached.

Simple Integration With Other Software

Double-data entry definitely swallows a lot of time without having much impact. We should therefore take every possible measure to avoid it. Businesses that manage their expenses manually can will need to reenter the collected information into the payroll software of choice. This can easily be avoided. When choosing an expense management software, look for the possibility of integrating the software into your current payroll program. This allows you to work more efficiently and streamline your processes across departments.

Business Continuity Guaranteed

In times like these, everybody is worried about how their business can continue to strive and grow with employees beeing scatered around in different places, working remotely. Especially with Expense Management this can be a tricky subject to handle, if employees still have to hand in hard-copy receipts, and Emails have to be sent back-and forth for approval purposes. Your chosen Software should easily adapt to different work environments & different authorization rights. By choosing an Expense Management software you choose a digital process, easily accessible by all parties involved.

These are only a few expense software functionalities you have to look out for. Each business will have additional specific functions they will require. Therefore, it is crucial to benchmark different software and see whether it meets the needs of your company.

Check out our Nova Smart expense management module and contact us to see, how we can customize our software to your needs.

What are the benefits of using the NOVA Smart App?

Patricia Maniscalco — Tue, 24 Dec 2019 15:40:58 +0000

Today’s workforce is not tied to an office. Whether working remotely or travelling the world, employees can move around, making it more difficult than ever for managers to keep up with their movements. Fortunately, one of the best tools to reach them is already in their pocket.

Here are five advantages of using the HR NOVA Smart App.

NOVA Smart App: Self-service management

The HR mobile application can facilitate two main types of tasks for these main roles:

Self-service manager: NOVA Smart App offers managers functional HR and payroll coverage. Allowing them to plan the activities of each employee and assess their performance, manage training, enter attendance times, access the Workflow for professional expenses, analyse and validate these movements quickly from a workflow menu.

Self-service employee: Employees can remotely access their documents (Payslips, certificates, etc.), planning, attendance, working hours from their smartphones, request holiday or leave, and have a view on their performance indicator.

NOVA Smart App: Clock-in and out remotely

Mobile time management is an excellent solution for employees working off-site or those who travel frequently.

NOVA Smart App facilitates the submission of an accurate report of working time, informs managers of the state of work and allows them to manage mobile employees more efficiently.

The mobile solution also supports reminders regarding overtime, breaks, appropriate rest periods and incoming and outgoing clocking.

NOVA Smart App: View payslips

In most organizations, employee payslip is the most common request received by the HR team. The ability to view and download payslips from your smartphone provides convenience for employees and saves the HR team time.

NOVA App offers simple and secure access to your information. On payday, you will be able to see your net salary, your pension contributions directly from your smartphone.

NOVA Smart App: Complete your tasks

The integrated application has the potential to streamline payroll and HR tasks. If you are integrating a recruit, the manager can complete the administrative formalities such as editing the contract, switching to NOVA Smart Payroll etc. from practically anywhere.

Whether it’s running a payroll report or viewing hours worked, NOVA Smart lets you work and manage your tasks from anywhere.

NOVA Smart App: Submit leave requests easily

Remote submissions for paid holiday requests are perhaps one of the most significant advantages of app. Employees can access their company’s leave policy and effortlessly submit holiday and sick leave without entering the office.

Worrying about a paper leave request is a thing of the past. Plus, check how many days you have left and start planning your next trip, all from your phone.

Mobile applications have revolutionized HR in unusual ways. The problems that have plagued organizations for decades could become a thing of the past. Once companies realize the enormous potential of this technology, they will reap the benefits of engagement, increased productivity and greater efficiency.

Learn More

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Advent Calendar Window 20: The Benefits of NOVA Smart HR App

Patricia Maniscalco — Thu, 20 Dec 2018 13:00:50 +0000

Mobile apps are everywhere and part of our daily lives, both personally and professionally. The consistency of human resource management tasks requires the use of tools that will help optimise the processes of the HR function as well as the entire company.

Here are the benefits that the NOVA Smart Mobile App can bring to your business:

Time off requests:

With NOVA Smart employees can access the app remotely when they need it.
Easily request leave, report absences and consult balances.
Monitor, analyse and authorise requests in real time by managers.

Organise schedules effectively:

Access to planning tools from the Nova Smart application.
Plan employee time productively, for example, quick replacements.
Keep control over management and ensure the smooth running of employee activities.

Real-time clock-in:

NOVA Smart makes tracking easy for managers anywhere, anytime.
Employees can quickly and confidently make hourly scores from their smartphones.

Strengthen your team of managers:

The NOVA Smart app allows the hierarchy to decide based on real-time data,
Ensure the effectiveness of employees at all times,
The NOVA Smart application eliminates any inconvenient process and saves time in the supervision of the company.

Learn more

Editors note this post was written by NOVATIVE’s newest marketing team member Ikram Elkouay

The post Advent Calendar Window 20: The Benefits of NOVA Smart HR App appeared first on Novative.