Airbase Review

Streamlined Financial Processes

Airbase integrates with widely used enterprise software such as ERPs, accounting software, IAM systems, and HRIS, so you can eliminate manual data entry and reduce human errors. As a result, employees can focus on cognitively demanding tasks and keep financial records accurate. Data is also synchronized across systems, ensuring consistency in financial records and reporting.

Better Spend Visibility and Control

Airbase gives improved visibility and control over company spending through its approval workflows. These can be configured to meet your company’s policies for basic routing to budget owners or extended as a full procurement intake workflow using Guided Procurement.

Airbase’s Accounts Payable Automation provides protections against paying duplicate bills, fraud, and upfront collection of required documentation like W9s, SOC reports, or legal agreements.

Control features are also available at other junctures for example for corporate cards.  The system enables users to implement customizable virtual and physical corporate cards that employees can use to conveniently, flexibly, and securely make purchases and payments.

For instance, administrators, financial controllers, or budget owners can set up virtual corporate cards to handle payments for vendor-specific recurring services or subscriptions, special company or business projects and travels, or one-time transactions. They can also create physical corporate cards for in-person or point-of-sale purchases.

Companies can track, handle, and control employees’ usage of such cards. They can set amounts, transaction limits, and expiration dates on the cards. This prevents employees from spending too much or making unnecessary purchases or subscription renewals. Additionally, using a mobile app, employees can take photos of receipts from physical card payments and add them to the appropriate transactions within the platform. Airbase automatically fills employees’ expense reports with information captured from the receipts using OCR technology.

Healthy Company Spend Culture

This procure-pay-close platform makes it easy to maintain a healthy company spend culture. You can create and execute streamlined, consistent, flexible, and safe workflows for the submission and approval of various types of spend or expense requests. This covers invoices, purchase orders, virtual cards, and expense reimbursements.

You can immediately route expense requests to the right approvers by setting up rules and criteria tailored to your company’s policies. Requests, for example, can be sent to one or several approvers depending on the type of expense, GL category, location, service, product, amount, requester, or approver expertise.

Airbase will also send automated notifications to the right people when the expenses being requested are not authorized, employees request payments for services that have already been paid for by the company, or teammates update vendors’ accounts. Users will also be reminded to capture and upload pictures of receipts when making purchases. Lastly, they’ll receive alerts if possible suspicious or fraudulent transactions are detected on their cards and when their expenses are approved and paid.

Real-Time Data

Airbase gives admins easy access to all the spend data they need. They can access an audit trail that contains complete, consistent, and up-to-date records of their company and employees’ accounts payable transactions. The platform captures all vital pieces of information about each transaction and consolidates them in one place in real time.

Admins can immediately track all communications, invoices, receipts, payments, purchase orders, or contracts associated with every non-payroll spend. This is possible regardless of the types of payments used, whether physical cards, virtual cards, checks, vendor credits, or ACH payments.

Furthermore, transactions are automatically synched between Airbase and the ERP. This helps finance and accounting teams keep their books accurate and up to date, facilitating reconciliation, closing, and reporting.