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Automating the Expense Management Process Improves Efficiency and Cuts Costs
When evaluating new technology to help improve the process of Claims and T&E reports, accounting managers review both efficiency and cost benchmarks.
ACOM's software helps automate the T&E process, which saves money, leaves accounting departments more time for other projects, and provides the employees with a much needed benefit.
ACOM's software also helps automate the Claims process, which improves security, and provides dramatic savings.
Perhaps a couple our customers' success stories might help clarify the benefits…
Travel & Expense Success Story
EZPayManager Direct Deposit Capability Enables Faster Reimbursements, Better Cash Management
The Problem
With 200 representatives on the road and a sizeable number of executives and managers submitting expense accounts each month, an ACOM customer dealt with a sizeable reimbursement check run each month. It also had to deal with periodic discontent in the field, where reps often had to wait until they returned home to receive and cash their checks. Neither company nor employees were getting the benefit of the money.
The Solution
With ACOM's EZPayManager, the company converted that problem situation into an employee relations positive. EZPayManager's ability to make direct deposits and to notify recipients by fax, secure email or on the web exactly when the money would hit their accounts not only stilled the discontent, but gave the far-flung rep organization a fresh appreciation of the company's concern for their well being. Might their sales efforts have reflected a change in attitude? We think so.
Claims Success Story
EZPayManager Helps Employees Achieve Versatility, Performance, and Security
The Problem
A firm in the mid-south decided to self-insure after several disappointing experiences with health insurance providers. Obtaining a dedicated health insurance package for Third Party Providers and self-insurers, it began printing claims checks on multipart preprinted check stock using an impact printer.
According to the administrator, the process was clumsy, noisy, time consuming and hard to manage. Checks first had to be printed, then separated manually and taken to accounting to be run through check signing equipment. Then, they were taken back to the insurance unit for distribution or mailing.
Moreover, the company was increasingly aware of the security risks in the use of preprinted check stock and that insurers were especially vulnerable targets for check fraud specialists.
The Solution
The self-insurance software provider formed a business partnership with ACOM and immediately recommended that its customer's plan administrator look into EZPayManager, ACOM's MICR laser check-processing solution. Using sample forms and data from the company as models, ACOM created electronically stored check form templates and within a few weeks the new process was tested and in production.
Checks are now generated on a Xerox Laser Printer (MICR-enhanced by ACOM), and security has been enhanced. All sensitive check face information -- logos, graphics, MICR lines and signatures -- is now stored on a removable secure USB drive that is used for check runs and removed when runs are finished. Further protection derives from their use of Check Fraud Alert, EZPayManager's fraud intervention module, which generates a list of all the checks the company has issued and sends it to the bank for verification of checks that arrive for clearing. If someone presents a check that is not on the list, the check is not paid by the bank.
Additionally, dramatic savings have resulted from reduced manual handling, elimination of costly preprinted forms, and by dispensing with post processing equipment and its maintenance. The company is now cutting costs and speeding payments further by offering direct deposit payment to its contracted health care providers, using EZPayManager's ACH and electronic remittance (pay stubs) capabilities.
