Top Trends in FinTech: 2017 and Beyond

While banks, insurers and investment managers may have been slow to adopt advanced systems to support and streamline processes in the past, fintech is now taking the world by storm. In fact, the PwC Global FinTech Report 2017 noted that investments in fintech will continue to increase over the next three to five years, as financial service providers cement partnerships with technology vendors.

Fintech offers considerable benefits for organizations in this industry – according to the report, companies working on fintech projects can expect to see a 20 percent return on investment on average.

As fintech continues to garner interest and become a more pressing part of financial service providers’ critical infrastructure, decision-makers must stay ahead of the curve and select the solutions that will offer the most value for their organizations. Top-trending solutions provide a jumping off point, showing executives the potential these systems can have for their internal and customer-facing processes.

Which fintech solutions should financial service providers consider first? Let’s take a look at the top trends for this year, and beyond:

1) Wider Acceptance of Fintech Solutions

The banking and financial service sector has historically hesitated when it comes to new technologies due to the industry’s needs for high-level security and data privacy. As a result, fintech options floundered in the past, as execs struggled with the best ways to balance security and compliance needs alongside new technological capabilities.

The situation has changed drastically recently, however, as more financial firms are seeking out advanced fintech solutions to address their most pressing industry pain points. While there are still important considerations to make with the implementation of innovative platforms and systems, the days of hesitation toward new technology are nearing an end.

“A large number of our clients are taking aggressive action to determine how they can use these technologies within their ecosystems,” noted Dilip Krishna, Deloitte & Touche LLP managing director and head of innovation. “They’re acting as venture capitalists and investing in their internal projects to see what specific problems these technologies can solve.”

2) Blockchain Becomes More Popular

Digital currencies initially threatened financial service providers, but recent months have seen more acceptance, especially given the rise of blockchain technology. Chargebacks911 explained that this technology comes as an alternative to the traditional transaction method of ACH clearing, and includes an accessible digital ledger to keep track of payments in real-time. In this way, transaction delays can be eliminated and overall use of digital currency can be streamlined for both banks and consumers.

Currently, more financial institutions are exploring the use of blockchain, and experts predict it will only gain popularity as a more efficient means of transactional record-keeping.

Mobile devices add efficiency.Mobile devices add efficiency.

3) Mobile Capabilities Help Level the Playing Field

The ability to use a mobile device to get work done on the go is a growing demand in every industry, and the financial service sector is no different. Fortune contributor Chirag Kulkarni noted that mobility is helping organizations enhance their customer focus, and is improving market competition for older financial service providers as they look to become more modern.

What’s more, support for mobile capabilities hasn’t just been a boon for banking customers – financial service providers have also found success with employee mobility, especially for workers that travel or operate from outside the office. The ability to leverage a mobile device helps ensure collaboration and productivity, and will continue to be an essential capability for financial service staff in the future.

4) Increasing Interest in Automation

An increase in automated processes has been seen across nearly every industry, and fintech is also riding this wave. Automation helps cut down on manual processes, improving efficiency while helping to cut down on human error. Automation, especially as it relates to transaction processing, will continue to be a top focus in financial service technology.

Leveraging Fintech Trends: Mobility and Automation

Financial service providers seeking ways to incorporate these trends within their businesses should consider all of their available options. Mobility and automation are especially key, and an expense reporting solution that supports both can provide a win-win for organizations and their employees.

An industry-leading expense reporting solution enables employees to track and submit expenses via their mobile devices, reducing the potential for lost receipts and unrecorded spending. In addition, such technology provides the best visibility for managers while supporting automated receipt processes and credit card transaction matching.

To see how an expense reporting solution could benefit your organization, contact Tallie for a free trial.

3 Surprising Ways Nonprofits Can Reduce Their Environmental Footprint

Going green has been a top priority in the corporate and nonprofit communities for years now, and it isn’t hard to understand why. Efforts to reduce an organization’s environmental footprint aren’t just beneficial for the planet — they reduce operating costs, boost the group’s mission-driven integrity, and attract and retain top-notch employees and volunteers, according to NeighborWorks America.

These initiatives are especially pressing for nonprofits. Every resource must be tracked and accounted for, and ensuring nothing goes to waste is incredibly important.
Chances are good that your nonprofit may already have a few projects in place to support its green efforts. Let’s take a look at some of the more surprising ways your organization can reduce its environmental impact:

1) Motivate Employees to Participate

Nowadays, it simply isn’t enough to put a recycling bin in the corner and hope for the best. Nonprofits must make additional efforts to ensure that the green initiatives they’ve put in place are being adopted by workers and that these changes will be baked into the organizational culture.

One way to shift practices to greener pastures is by motivating employees with friendly competition, rewards, or recognition. Departments can compete to see who recycles the most materials each week or who saves the most energy overall. This type of event will put sustainability efforts front and center within your organization and ensure that these plans receive the attention they deserve. What’s more, a contest is something simple to put together that can go a long way toward underscoring green initiatives while shifting organizational culture in the right direction.

Employee participation is important in the nonprofit field.Employee participation is important in the nonprofit field.

2) Ensure Building Sustainability

When considering use of resources, it’s important to factor in the organization’s use of space. According to New York’s Concordia College, a recent study found that nonprofit groups are leaders when it comes to use of environmentally friendly buildings. This includes designing and constructing structures with lower-than-usual environmental impact, or retrofitting older spaces to make them more efficient.

This being said, there is still work to be done in this realm. If your organization is located within an older building, it might be time to examine the structure’s inner systems to ensure that things like heating, cooling, electricity, and other utilities use takes place in the most efficient way. Retrofitting or replacing systems may be necessary, and while this does require an up-front investment, the payoffs in terms of efficiency and environmental impact are more than worth it.

It’s also worth it to consider how space and resources are shared. Concordia College noted that it’s now more common for nonprofit employees to share office space and other resources like IT assets to enhance collaboration and reduce environmental impact.

3) Improve the Efficiency of Travel

Travel is often overlooked during sustainability efforts, but it’s an area that is typically ripe for improvement. Because even local travel can consume considerable resources, it’s critical to consider things like commuting as well as the efficiency enhancements that can be made with longer trips.

Establishing a company carpool reduces emissions and creates stronger bonds between co-workers. In addition, encouraging employees to use mass transit through pre-tax benefit programs saves money and reduces environmental impact.

Reducing paper use is something your organization may already be doing, but chances are good that these efforts may not extend to travel. Using a mobile-friendly, paperless expense reporting solution cuts down considerably on the paper collateral needed for expense reporting. With such technology on the side of your nonprofit, employees can easily submit expenses without needing to hang on to paper receipts. Best of all, managers can review and approve reports through the software’s streamlined interface, without having to wade through physical paper reports.

The Paperless Project found that the average office worker uses an average of 10,000 sheets of paper each year, and as much as 45 percent of these printed sheets end up in the trash. Eliminating needless paper is a critical part of improving sustainability, and can significantly enhance efficiency and working processes for employees.

Tallie Expense Management Software – September Webinars

Throughout the month of September, we will be conducting free weekly webinars on several subjects to make sure you get the most out of our expense management software.

These webinars provide free training for employees, managers, and accountants alike. Lasting between 15 and 30 minutes, each webinar is filled with information ranging from product guidance to live Q&A with Tallie Product Experts.

Register for a free September webinar below!

TALLIE USER TRAINING

  1. Run through the creation of a Tallie expense reports.
  2. Share the tips and tricks to create your expense report in a few minutes.
  3. Answer any and every Tallie question you might possibly have.

Register:

Tuesday, September 5, 8:30 – 9:00 AM PST

Tuesday, September 12, 8:30 – 9:00 AM PST **SPECIAL: How To Use Tallie Android & iOS Apps**

Tuesday, September 19, 8:30 – 9:00 AM PST

Tuesday, September 26, 8:30 – 9:00 AM PST

ADMINISTRATOR TRAINING

  1. Walk through how to create custom policies and approval levels within Tallie.
  2. Show how Tallie streamlines your expense reporting workflow with multi-point data export and bi-directional accounting system integration.
  3. Answer any and every Tallie question you have.

Register:

Thursday, September 7, 8:30 – 9:00 AM PST

Thursday, September 21, 8:30 – 9:00 AM PST

CORPORATE CREDIT CARD TRAINING

  1. Walk through the corporate credit card reporting within Tallie.
  2. Show the three types of credit card connections in Tallie.
  3. Answer any and every Tallie question you have.

Register:

Thursday, September 14, 8:30 – 9:00 AM PST

ACCOUNTANT TRAINING

  1. Run through a variety of expense tracking features that you may utilize in Tallie.
  2. Review customization and options of your account’s configuration.
  3. Show how Tallie streamlines your accounting workflow with 1-click multi-point export and bi-directional accounting system integration.
  4. Answer any and every Tallie question you have.

Register:

Thursday, September 28, 8:30 – 9:00 AM PST

If you have any questions about Tallie’s expense management software between now and your chosen training webinar, please don’t hesitate to contact our Product Expert Team directly at support@usetallie.com or 888-874-1118 Ext 2. We hope to see you there!

Tallie 12.2 Expense Report Software Release Notes

In the last few weeks, we’ve been focusing on improving the performance of our brand new time product as well as addressing high priority issues. In addition, we’re officially releasing one of our most popular beta features, Executive Assistant. Read on for more details!

Executive Assistant is now out of Beta

If there is an administrative assistant at your company who manages expense entry, coding, matching and/or submission, this feature is for you!

You can now enable the Executive Assistant functionality from the Features page in Tallie settings. Once Executive Assistant is enabled, an individual user can be given the “Access/Manage Other Accounts” permission. From there, you may assign the user a specific subset of permissions for management of others’ accounts.

Tallie Expense Report Software - Executive Assistant

Executive Assistants are able to manage specific tasks without receiving full access to the admin account.

Executive assistants are able to switch between profiles easily without needing to sign out of their personal Tallie account.

Tallie Expense Report Software - Executive Assistant

Executive Assistants can switch profiles easily in the user settings menu.

We’ve collected valuable feedback in the beta phase and fine tuned the feature in order to prepare it for wide release. Thank you to all who participated in the beta program!

Sort and Filter in Tallie Time

The sort and filter for the time product shares the same basic idea as that for expenses, with the addition of dimensions. Depending on your accounting system and company settings, the availability of certain dimensions in the sort and filter menu may vary.

Tallie Expense Report Software - Sort and Filter

To activate sort and filter, simply click Sort Time Entries By and select an option to narrow your list of time entries. Depending on your selection, you can filter the results even further, such as switching between ascending and descending order or choosing to view all time entries submitted within a specific date range.

Tallie Expense Report Software - Sort by submitted date

In addition to the Time Entry page, the sort and filter feature is also available on Approval and Export pages, giving approvers and exporters more control over how the time entries are presented to them.

Tallie Expense Report Software - Approval page sort and filter

The sort and filter functionality is available on Time Entry, Approval and Export pages.

Product Enhancements & Bug Fixes

  • Time rejection email now includes rejection reason
  • Fixed Time Entry page not loading in Safari: For optimized results in Tallie Time, please continue using Chrome during the beta phase.
  • Fixed the issue where Executive Assistant’s active dates are not honored
  • Fixed the issue where Executive Assistant settings show “Track Time” in expense-only enterprises
  • Made sure we handle processing of non-standard PDF files more gracefully so they don’t slow down general receipt processing speeds
  • Made sure we only validate for projects and classes when exporting to QuickBooks
  • Made sure auto-import for credit card statement upload skips payments
  • Fixed the issue where Approver tab is missing in newly-created resold accounts

We look forward to hearing how these upgrades have made managing your time and expenses even easier. If you have any questions or comments, feel free to reach out to our Product Expert team at support@usetallie.com or by calling 888-874-1118 Ext 2.

Tallie Introduces New Client Onboarding Automation

Onboarding new clients just got easier with new Tallie profile presets.

Tallie today announced a new feature to simplify the task of onboarding new clients for its accounting firm partners. Adding new clients can be an unnecessarily repetitive task, especially for accounting firms transitioning their clients from inherited systems to firm-managed standardized systems. Now, Tallie’s accounting firm partners can save time by storing the settings for an existing client to use as a template for future clients with similar business models and needs. These stored profile presets can then be applied when onboarding new clients.

Review of accounting firm partner processes inspired the new functionality. As accounting firms shift from a traditional time and materials billing process to flat rates and basic service offerings, standardization and automation are keys to profitability.  

“The accounting industry is rapidly changing its business model,” says Claire Milligan, Director of User Experience at Tallie. “Rather than replacing the traditional accountant, we believe Tallie is the technology business partner that will enable firms to evolve, expand profits, and develop new relationships with their clients.”

The new functionality complements an already robust reseller management portal that Tallie created for accounting firm partners to streamline billing, usage data, and access for client accounts all under one accountant login.

“Tallie is committed to helping our partners set the standard for the future of the accounting industry,” says Claire Milligan. “With consultation from clients, partners, and industry leaders, we consistently build tools that empower our partners to offer better, faster, more profitable expense management as a part of an outsourced accounting product.”

About Tallie

Tallie expense report software simplifies the entire expense management process. From point of purchase to accounting and reimbursement, Tallie eliminates busy work using real-time integration with leading accounting and bill pay solutions, including QuickBooks Online, QuickBooks Desktop, Xero, Intacct, and Bill.com. Recently, Tallie joined forces with Nexonia, Certify, and ExpenseWatch to form the largest independent expense management company in the world. For more information about Tallie, please visit www.tallie.com.  

Tallie Expense Management – August Webinar Schedule

Throughout the month of August, we are conducting free weekly webinars on a range of subjects to ensure you get the most out of our expense management software.

These webinars provide free training for employees, managers, and accountants alike. Lasting between 15 and 30 minutes, each webinar is loaded with information ranging from product guidance to live Q&A with Tallie Product Experts.

Register for a free August webinar below!

TALLIE USER TRAINING

  1. Run through the creation of a Tallie expense reports.
  2. Share the tips and tricks to create your expense report in a few minutes.
  3. Answer any and every Tallie question you might possibly have.

Register:

Tuesday August 1st 8:30 – 9:00 AM PST

Tuesday August 8th 8:30 – 9:00 AM PST

Tuesday August 15th 8:30 – 9:00 AM PST **SPECIAL: How To Use Tallie Android & iOS Apps**

Tuesday August 22nd 8:30 – 9:00 AM PST

Tuesday August 29th 8:30 – 9:00 AM PST

ADMINISTRATOR TRAINING

  1. Walk through how to create custom policies and approval levels within Tallie.
  2. Show how Tallie streamlines your expense reporting workflow with multi-point data export and bi-directional accounting system integration.
  3. Answer any and every Tallie question you have.

Register:

Thursday August 10th 8:30 – 9:00 AM PST

Thursday August 24th 8:30 – 9:00 AM PST

CORPORATE CREDIT CARD TRAINING

  1. Walk through the corporate credit card management within Tallie.
  2. Show the three types of credit card connections in Tallie.
  3. Answer any and every Tallie question you have.

Register:

Thursday August 17th 8:30 – 9:00 AM PST

ACCOUNTANT TRAINING

  1. Run through a variety of expense tracking features that you may utilize in Tallie.
  2. Review customization and options of your account’s configuration.
  3. Show how Tallie streamlines your accounting workflow with 1-click multi-point export and bi-directional accounting system integration.
  4. Answer any and every Tallie question you have.

Register:

Thursday August 3rd 8:30 – 9:00 AM PST

Thursday August 31st 8:30 – 9:00 AM PST

If you have any questions about Tallie’s expense management software between now and your chosen training webinar, please don’t hesitate to contact our Product Expert Team directly at support@usetallie.com or 888-874-1118 Ext 2. We hope to see you there!

Tallie Expense Tracking Software – July Webinar Schedule

Throughout the month of July, we are conducting free weekly webinars on a range of subjects to ensure you get the most out of our expense tracking software.

These webinars provide free training for employees, managers, and accountants alike. Lasting between 15 and 30 minutes, each webinar is loaded with information ranging from product guidance to live Q&A with Tallie Product Experts.

Register for a free July webinar below!

TALLIE USER TRAINING

  1. Run through the creation of a Tallie expense reports.
  2. Share the tips and tricks to create your expense report in a few minutes.
  3. Answer any and every Tallie question you might possibly have.

Register:

Wednesday July 5th 8:30 – 9:00 AM PST 

Tuesday July 11th 8:30 – 9:00 AM PST

Tuesday July 18th 8:30 – 9:00 AM PST **SPECIAL: How To Use Tallie Android & iOS Apps**

Tuesday July 25th 8:30 – 9:00 AM PST

ADMINISTRATOR TRAINING

  1. Walk through how to create custom policies and approval levels within Tallie.
  2. Show how Tallie streamlines your expense reporting workflow with multi-point data export and bi-directional accounting system integration.
  3. Answer any and every Tallie question you have.

Register:

Thursday July 6th 8:30 – 9:00 AM PST

Thursday July 27th 8:30 – 9:00 AM PST

CORPORATE CREDIT CARD TRAINING

  1. Walk through the corporate credit card management within Tallie.
  2. Show the three types of credit card connections in Tallie.
  3. Answer any and every Tallie question you have.

Register:

Thursday July 20th 8:30 – 9:00 AM PST

ACCOUNTANT TRAINING

  1. Run through a variety of expense tracking features that you may utilize in Tallie.
  2. Review customization and options of your account’s configuration.
  3. Show how Tallie streamlines your accounting workflow with 1-click multi-point export and bi-directional accounting system integration.
  4. Answer any and every Tallie question you have.

Register:

Thursday July 13th 8:30 – 9:00 AM PST

If you have any questions about Tallie’s expense reporting software between now and your chosen training webinar, please don’t hesitate to contact our Product Expert Team directly at support@usetallie.com or 888-874-1118 Ext 2. We hope to see you there!

K1 invests over $125 million to form largest independent expense management software company

K1 Investment Management is pleased to announce it has combined expense management software leaders Certify, Nexonia, ExpenseWatch and Tallie to create the largest independent company in the expense management software space.

The combined business will better serve its more than 7,500 enterprise, mid-market and SMB customers with expanded offerings to reduce administrative overhead associated with employee time, travel and expenses. Near-term priorities include increased investment in product capabilities, expansion of geographic reach and growth of a team of subject matter experts. The combination of Certify, Nexonia, ExpenseWatch and Tallie creates the world’s largest expense management software company behind Concur, which was acquired in 2015 by SAP.

The merger is majority backed by K1, an investment firm focused on enterprise software companies globally. K1 has invested over $125 million of equity behind the combination, with additional capital available for further acquisitions.

Read the full press release here.

Tallie Expense Management – June Webinar Schedule

During the month of June, we will be hosting free webinars on a variety of subjects to help you get the most out of Tallie for your Expense Management needs.

These webinars provide completely free training for employees, managers, and accountants alike. Each webinar lasts between 15 and 30 minutes and is packed with information ranging from product guidance to live Q&A with Tallie Product Experts.

Register for a free June webinar below!

TALLIE USER TRAINING

  1. Run through the creation of Tallie expense reports.
  2. Share the tips and tricks for Expense Management.
  3. Live Q & A session for any questions you may have.

Register:

Tuesday June 6th 8:30 – 9:00 AM PDT

Tuesday June 13th 8:30 – 9:00 AM PDT 

Tuesday June 20th 8:30 – 9:00 AM PDT **SPECIAL: How To Use Tallie Android & iOS Apps**

Tuesday June 27th 8:30 – 9:00 AM PDT

ADMINISTRATOR TRAINING

  1. Walk through how to create custom policies and approval levels within Tallie.
  2. Show how Tallie streamlines your expense reporting workflow with multi-point data export and bi-directional accounting system integration.
  3. Live Q & A session for any questions you may have.

Register:

Thursday June 8th 8:30 – 9:00 AM PDT

Thursday June 22nd 8:30 – 9:00 AM PDT

APPROVER TRAINING

  1. Walk through the expense reports approval process within Tallie.
  2. Show the expense report edit feature for specified approvers.
  3. Live Q & A session for any questions you may have.

Register:

Thursday June 15th 8:30 – 9:00 AM PDT

ACCOUNTANT TRAINING

  1. Run through a variety of expense reporting features that you may utilize in Tallie.
  2. Review customization and options of your account’s configuration.
  3. Show how Tallie streamlines your accounting workflow with 1-click multi-point export and bi-directional accounting system integration.
  4. Live Q & A session for any questions you may have.

Register:

Thursday June 1st 8:30 – 9:00 AM PDT

Thursday June 29th 8:30 – 9:00 AM PDT

If you have any questions about Tallie’s expense reporting software between now and your chosen training webinar, please don’t hesitate to contact our Product Expert Team directly at support@usetallie.com or 888-874-1118 Ext 2. We hope to see you there!

Tallie Expense Report Software 12.0 Release Notes

For the past couple months, the Tallie team has been laying the groundwork for a major product release that’s happening early this Summer. While we’re still developing more features and polishing the ones that have already been built, we’ve also added some enhancements and addressed certain issues. Stay tuned for our upcoming release, but until then, read on to learn about the additions and bug fixes you can find in Tallie starting today!

New Enterprise Time Zones

São Paolo, Brazil, all Australian and New Zealand time zones are now available in our Localization menu in the Company Preferences area.

Tallie Expense Report Software - Enterprise Time Zone

Oceania and São Paolo time zones are now available.

Further Improvements to our Bank Data Delivery Credit Card Feeds

Ever since the release of our in-house credit card integration at the end of 2016, we have been able to successfully connect several clients’ commercial cards, some of whom need support for dozens of corporate card sub-accounts. We’ve had success on all three financial institutions we support, which are Visa, MasterCard and Amex. Due to the fact that the process of initiating a Bank Data Delivery is not always the same across different banks, our Product Expert team would assist the client every step of the way and raise any technical roadblocks to our Development team. In this release, we’ve addressed a handful of Bank Data Delivery issues, including well-formed files with no transaction data being treated as errored files, file parsing error, and auto-import skipping transactions. We take pride in the integrations we built from the ground up and we’re continuously making enhancements to them, that includes Bank Data Delivery as well.

Tallie Expense Report Software - Bank Data Delivery Credit Card Feeds

Bank Data Delivery supports corporate card sub-accounts from Visa, American Express and MasterCard. New sub-account shows up automatically when the bank sends transactions attributed to it.

Additional Fixes

  • Monetary Approval Levels Addressed the issue where if a monetary level is not part of the managerial chain, it would interfere with the managerial approval. Also addressed another issue where unlimited approver is skipped and default approver is contacted when there’s a “silent” approver who is not assigned in the approval flow.
  • Fixed the issue where expense category default billable flag prevents user from making the expense not billable.
  • Fixed Print Selected reports functionality on the Export/Exported page does not include the Google Maps for mileage expenses.
  • Rewrite Billing page “past due” error if there are older invoices that need to be processed after the admin had updated credit card, so admin knows to contact Support.

Stay tuned for the big announcement coming early this Summer.

We love to hear from you — even if it’s just to say hi. Let us know how these updates to our expense report software help your team. Reach out to our Product Expert team at support@usetallie.com or by calling 888-874-1118 Ext 2.