AllianceHCM, a privately-held company that provides human capital management (HCM) software, has announced its latest HR software product, expense management.
AllianceHCM's expense management platform automates the recording, tracking, approval and payment of reimbursable expenses incurred by employees.
"Our solution provides our users the ability to streamline the submission process by creating multiple expense line items from receipts by simply taking a photo from your phone," AllianceHCM President Matt Umholtz said in a press release. "Coupling expense management with our payroll system really expedites the end-to-end process from expense submission to reimbursement deployment."
AllianceHCM's expense management solution:
Captures receipts on mobile and desktop
Turns photos of receipts into text that auto populate the expense report
Logs travel miles and auto-calculates IRS standard mileage rates
Approves and rejects expense reports
Reimburses funds by leveraging AllianceHCM payroll
AllianceHCM's expense management is an add-on feature for clients. The news comes about a half-year after the company announced it had onboarded 1 million employees through its custom Onboarding Portal within AllianceHCM's Talent Acquisition solution.
The global human capital management (HCM) market reached $18.04 billion in 2020. It is expected to expand at a CAGR of 7.9% to $32.84 billion in 2028, according to Emergen Research.