Verian gets the most control over spending by extending into more areas of company-wide buying. We have been in the Purchase-to-Pay (P2P) market longer than any other independent provider – nearly 20 years. That’s why we have the broadest and deepest solutions available today in one single cloud-based system that offers:
- eProcurement to see into how funds are being used so you can truly understand spending and find new ways to save costs
- Invoice Automation for paperless and touchless processing of all invoices to ensure accuracy, timeliness, reduced risk, and the ability to leverage savings tactics like early payment discounts
- Travel & Expense reporting to log all employee expenditures and approvals in a streamlined way with a mobile-friendly platform that users actually like using
- Asset Management to capture all spending on assets from labor to parts, enabling total cost of ownership analyses and lifecycle value comparisons to support smarter buying behavior
- Budget tracking to see where you stand on budgets in real-time before expenses are approved and funds are committed
Verian Asset Manager
Verian Asset Manager puts a really important extension of Purchase-to-Pay at your fingertips to capture all of the spending associated with assets and tap into life cycle cost information to buy smarter in the future.
Verian’s asset management solution automates asset receipt records, tying work order costs to specific assets, tracking warranty and service contracts, identifying asset location and condition, tracking depreciation and salvage value, and forecasting replacement costs.
Collecting all of this information gives you the ability to assess spending beyond purchase prices to understand a total cost of ownership and simplify asset management processes by
- Tracking maintenance spending and depreciation across the entire lifetime of assets
- Buying smarter by conducting value comparisons when purchasing new assets
- Managing service contracts, warranties, repair histories, and location/ownership of assets
- Charging accurate amounts to proper GL codes when assets are transferred between cost centers or from inventory
- Planning future budgets by knowing when assets will be retired
- Seeing availability of unused assets instead of buying new ones
By tracking every dime you spend to keep assets running effectively, you know exactly how much it is costing you beyond the purchase price to own particular pieces of equipment. The helps you know the true value of each piece along with the best warranties and service contracts so when you make new purchases you know what gave you the most bang for your buck.
Verian Budget Tracking
Verian gives you the power to manage budgets in real time by tacking all purchases and requests against the budgets you set up in the system. That means as soon as an order goes into Verian; it goes against your budget.
This enables you to manage your spending against planning by:
- Defining cap amounts
- Tracking purchases, invoices, and expenses against budgets
- Setting notifications on budget status to tell you when you’ve reached a certain percentage
- Triggering additional approval for transactions against budgets once certain usage percentages are hit
- Reserving portions of your budgets for tax, freight, or other expected charges
- Deducting from budgets by receipt of units of pre-negotiated contract amounts or invoice dollar amounts
When you track your budgets in real time, you are far less likely to overspend. You can also know if purchases are being allocated to the wrong budgets and address the issue directly. And, along the way you collect important data that enables you to
- Plan future spending more effectively
- Track project-based spending
- Prevent the “unexpected invoice” that puts you in the red
Don’t you need to know where you are tracking to budget before you approve items to be purchased? Now you can – anytime.
Verian Expense Manager
One system for all of your spending is not complete without capturing Travel & Expenses. Verian Expense Manager makes T&E reporting painless, while giving you greater control and insight into how employees are spending company money.
Verian Expense Manager automates expense submissions and approval workflows, electronically matching receipts and charges, and routing the report to the appropriate approver. This enables quick viewing and approving of expense reports – even on mobile devices – and captures all indirect spending in one place.
Verian Expense Manager allows you to approve expense reports quickly and easily so you can
- Reimburse employees faster
- Detect the potential for fraud and abuse
- Capture all spending in one system, regardless of source
With Expense Manager, there’s no keeping track of paper receipts or pushing paper reports from one place to another. Employees simply submit charges and pictures of receipts for expenses – even from their mobile devices.
There are no stacks of papers stalking you for signatures – everything is matched automatically in the system, where you can
- Easily verify expenditures and approve reports
- Customize reimbursement limits and justification fields
- Load expenses directly from credit card providers
- Allow users to connect Google Maps to automatically calculate distance and compare mileage `travelled
- Automatically extract trip data from your travel itineraries to make expense report entry a breeze
Verian Invoice Manager
Verian Invoice Manager makes paper disappear and helps you make accurate, on-time payments every time.
Verian invoice processing software streamlines your accounts payable process by automating invoice data capture, cost coding, approvals, reconciliation, and invoice image storage, all through an easy to use web interface.
We help customers process some of the largest volumes of invoices in the world faster than ever, so you can:
- Pay vendors accurately and timely
- Leverage early-payment discounts
- Document approvals to ensure compliance
- Create trails for easy audits
- Improve productivity of AP personnel
Some of the results you should expect are
- Double invoices processed per A/P clerk
- Dramatically lower invoice processing costs
- Expedited invoice approvals
- More early pay discounts
- Prevention of late payment penalties
- Improved A/P accrual accuracy
- Elimination of duplicate and inaccurate invoices
- No more payment status inquiries from suppliers
And yes, elimination of all that paper.
Verian Purchase Manager
Purchase Manager automates the entire purchasing process from requisition to approvals to POs and receiving with one, easy-to-use electronic system that is similar to online shopping. The system is built to make it easier for every employee in the company to request the items they need than to go buy things themselves.
With everyone using the system, all of your data is captured so you can see your spending, control approvals and buying, and ensure the items and services you receive are properly billed.
Automating the Purchase-to-Pay cycle allows you to control what’s being bought, track approvals for audits and compliance purposes, and see all of your indirect spending details in one place. Soon your eyes will be open to areas where you can save more by
- Negotiating better vendor contracts
- Identifying opportunities for volume pricing
- Preventing buying what you already have
- Stopping rogue spending
- Creating a more conscientious spending culture
The following capabilities are delivered through Verian’s Purchase Manager:
- eCatalogs: Your company’s shopping cart
- eRequisitions: Getting employees what they need faster
- Sourcing: The supplies you need at the price you want
- Automated Approval Workflows: Any number of approval paths, all from a single order
- Budgeting: Check budgets before you approve spend
- Automated PO Creation: No paper, straight to the supplier
- Matching POs, Receipts, Invoices, and Contracts: No stacks of papers, just accurate payments
- Receiving Inventory and Assets: Getting more than goods and services
- Contracts Management: Go beyond the buying
- Reporting and Analysis: One simple location, endless data possibilities
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