Company Expense Management – Petty Cash

Company Expense Management – managing minor expenses for an office

India is growing at a very swift pace, every minute a new company is taking birth across India in major cities like Bangalore, Delhi, Mumbai, Pune, Hyderabad etc. Each having a niche idea to work on, and to work on these ideas will bring up some minor day-to-day expenses to any corporate. These expenses can be disarray for any organization since it is always the toughest task to keep track of every money flow and transaction. Here they must consider about Company Expense Management, this allows them to manage these regular company expenses.

But, Company expense management is not a piece of cake. It requires a huge amount of error-free operational management skills. Often organization miss-do the task of company expense management and usually end-up with hiring a dedicated employee for this job or out of focus from their core idea of business.

SuperSeva Services proposes to offer an end-to-end managed service for managing your petty cash. For this purpose, SuperSeva will assign a SPOC (Single Point of Contact). This SPOC would be experienced in vendor management and well versed with customer service skills.

What is petty cash?

Petty cash is utilized by organizations to deal with little irregular buys that can come up intermittently over the span of business operations. They ought to be put away in a protected area with controlled access, for example, in a bolt box. Negligible money administration is the arrangement of record keeping to track the use of unimportant money stores.

How does this model work?

SuperSeva’s process flow and delivery model:

1. SuperSeva will assign a SPOC
2. Client will daily Email the requirements to the SuperSeva SPOC
3. Responsibility of the Client: To send a scanned /hard copy of the Vendor’s invoice along with an approval mail
4. Responsibility of SuperSeva SPOC: Online payment to the vendor in 24 hours (after receiving the hard copy of invoice)

Benefits of outsourcing your petty cash management system

1. Visibility and transparency to identify areas of spend inconsistency from site to site
2. To have a secured point of entry control to prevent unauthorized transactions
3. Electronic input of receipts
4. Minimize the potential for mistakes – reduce handling errors
5. Reduce deceit and minimize dishonest claims and thefts
6. Can establish a system which is policy driven to reinforce limits of acceptable spend.
7. Single point of contact to effectively handle real-time cash flow.
8. Maintain accurate summaries of closing balances and cash owed.

Outsourcing these services will surely result in better management and in a very cost efficient and pocket-friendly manner. Sit with us for a coffee and we can have a detailed talk how we can mutually help your company to grow faster while utilising hundred percent out of our services.

Contact us on +91 9590 901 901 or write us at sales@superseva.com

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Tags:company expense management, Petty Cash Management