Cash management (cash advances, expense reports) happens in Excel templates, manually, on email and in the accounting system. These petty activities are a resource hog in Accounting, and those resources are more expensive every year.
Outgoing and incoming amounts are manually processed into the accounting system based on printed bank statements. Delays and mistakes are frequent and an accurate bank statement is hard to produce on a daily basis.
Overdues reports are delayed and hard to track on a daily basis. There are delays in cashing in due amounts.
Our answer is Profluo Treasury
Cash advances and expense reports
Created in the portal, approved by managers and processed by accounting
Expense reports are suggested for settlement with any open advances
Expense reports can be prepared for expenses with cash (RON, hard currencies), card, permanent advances (Imprest)
Expense reports automatically apply deductible per-diems and any other expense policies in the company
Reminders can be set for overdue cash advances and expense reports
Incoming and outgoing cash
Can be processed manually in the portal (by matching with invoices from O2C and S2P, respectively) or automatically via imports of electronic bank statements (PDF or SWIFT messages)
Payment proposals can be imported in the e-banking systems of your banks
Cash incoming can be visually compared with customer open items for faster and more accurate settlement
The imported and processed bank statements can be integrated to your accounting system, to eliminate rework
New banks and bank accounts are easily created, the IBAN code is automatically validated