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Problems We Solve


Tom - General Partner

Tom travels frequently and incurs considerable T & E expenses. His assistant, Mary, prepared his expense reports in excel, and Tom had to spend time reviewing allocations, assigning proper deal codes, and correcting inaccuracies. Once the report was submitted to Accounting, there may be several weeks before the information gets entered to the GL and and the company can recover these expenses from the target deal or other entity.

TripsWare allows Tom to focus on deal-making, while Mary prepares his expense reports easily and more accurately. He can view his reports online and sign off, knowing his expense reports are complete and on time, and that reimbursement and recovery will be prompt.


Mary - Executive Assistant

To prepare Tom's expense reports, Mary had to sift through paper receipts, enter each item into excel and type in the expense category and billable entities. A single report could take over an hour to complete and would likely have inaccurate allocations.

With TripsWare, most of Tom's expenses can be uploaded automatically and added to expense reports with a click. Mary can assign expense items to drop-down categories and let the system do all necessary calculations. She can now complete an expense report in minutes and submit it online for approval.



Mike - Accountant

Mike used to manually enter every expense item into the company's accounting software, an error-prone and inefficient task that required several hours each week. The task of consolidating billable expenses and creating invoices for portfolio companies involved complicated and cumbersome spreadsheets. The firm was always several months behind in billing back.

TripsWare's accounting integration feature eliminated the tedious manual entry of expense data. At the click of a button, Mike can now import all employee expense report data to the company's GL accounting software. Thanks to the improved capture and tracking capabilities of TripsWare, Mike can now generate invoices in seconds.


Jane - CFO

Jane's firm recently underwent SEC registration. To maintain compliance and stay prepared for periodic audits, she needed immediate visibility into spending, Accounts Receivables, and closing deal fees. With her existing accounting tools and GL configuration, Jane simply did not have the transparency required for the new regulations.

With TripsWare's reporting tools, Jane can now run spending reports by employee, portfolio companies, funds, or other entities. She has real-time visibility into company spending for cost control, budgeting, and compliance.
 
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