Necho is a global leader in expense management. Our solutions automate the processing and facilitate the management of employee business expenses, the second largest controllable expense after payroll. Our customers achieve greater control over costs, improved compliance, and increased visibility into operations through data capture and reporting. As a result, they are able to reduce costs by at least 10% and make a direct impact on the bottom line.
Why do businesses need an Expense Management Solution?
Every business benefits from controlling expenses. After payroll, employee business expenses account for the largest controllable cost in organizations today. The expense reimbursement process, however, is often tedious and time-consuming, resulting in costly process cycles for employees, managers, and accounts payable personnel. Further, expense management solutions provide valuable data that can help businesses reduce their expenses substantially.
Why Necho is the right choice
A Necho solution provides a rapid payback by streamlining the entire process. A typical company can realize a return on their investment in (6-12) months, reducing processing time and costs 40-60% by :
- Expediting reimbursements and reducing administrative costs;
- Elimination of costly errors through streamlined submission, approval and reimbursement processes.
Beyond these immediate savings, customers are realizing additional savings that reduce discretionary spending by approximately 10%. Necho’s expense management solution helps businesses act strategically in controlling expenses and sourcing employee products and services through:
- Providing valuable spend management data for vendor negotiations, preferred rates, spend analysis and other business intelligence;
- Enabling management to implement, communicate, and enforce compliance of employee expense policies.
- Capturing opportunistic savings such as VAT recoveries, timely and accurate re-billings, corporate card rebates and amounts recouped for income tax recovery;