Proper provisioning is part of the ABCs of proper accounting closes. As Controller or CFO you know that the act of provisioning for the next year will allow you to mitigate the impact of risks. Captio will help you keep costs under control and provision better.
Part of internal control is that management analyses which risks could affect the organisation, documenting them, evaluating them and setting up strategies to address them. Indeed, provisioning for the following year, through the annual close, allows you to mitigate the impact of risks. To provision properly one needs to be aware of the costs. One of the common problems in accounting for expenses is being able to detect errors, especially in travel expenses, where the volume of receipts and the complexity of reviewing them means that imbalances can appear. A good way to combat this handicap is to use Captio. This is a digital platform that helps you record, arrange and monitor these expenses. With Captio resources will be provisioned in a way that is better tailored to the needs of the company.
Captio has thus become an indispensable platform for managing travel expenses at different levels.The user captures the receipts using a mobile phone and, courtesy of the OCR system that interprets the information, uploads the receipts to Captio, and from there can send reports to the departments responsible for review, subsequent validation and settlement. Through an integrated workflow information remains unified, which is synonymous with data control and therefore prevents errors. The administrators responsible for validation and settlement can thus review expense reports with ease with no need for printouts. Furthermore, the finance department can use alerts, which are predefined in accordance with company policies, when there are receipts that do not meet the requirements.
Using Captio therefore makes it much easier to control of travel costs and, indeed, the company's overall expenses.