Frequently Asked Questions
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Yes, Tera offers real-time visibility across every transaction, department, and user. Admins can view expenses as they happen and take immediate action if needed.
Tera is a unified platform that helps businesses control, track, and optimize all types of company spends — from employee reimbursements and travel to vendor payments and corporate card usage — in real-time.
Tera allows you to issue physical or virtual cards with dynamic limits, track all expenses, auto-categorize them, and ensure compliance — all from a centralized dashboard.
Yes, Tera uses bank-grade security, encryption, and access controls to ensure all your data and transactions are safe.
You can generate department-wise, user-wise, category-wise, or custom reports on spends, balances, and reimbursements — ideal for audits and decision-making.
Yes, Tera supports exports and can be integrated with tools like Tally, Zoho, etc., for seamless bookkeeping and reconciliation.
Spend management encompasses the comprehensive control and optimization of all company expenditures, including procurement, supplier relationships, and operational costs. In contrast, expense management typically focuses on tracking and reimbursing employee-incurred expenses, such as travel and entertainment.
By providing real-time visibility into expenditures and enforcing budget controls, spend management allows organizations to monitor spending against budgets continuously, leading to more accurate forecasting and financial planning.
Yes, many spend management solutions offer integrations with popular accounting and ERP systems, facilitating seamless data synchronization and reducing manual data entry.
Spend management systems can enforce company policies by setting spending limits, requiring approvals for certain expenditures, and ensuring that all transactions are documented and compliant with internal and external regulations.
Spend analysis involves collecting and analyzing expenditure data to identify spending patterns, uncover savings opportunities, and inform strategic sourcing decisions. It's a critical component of effective spend management.
Small businesses can gain better control over their finances, reduce unnecessary expenses, and make informed purchasing decisions by implementing spend management practices and tools.
Essential features include real-time expense tracking, budget controls, integration capabilities with existing systems, user-friendly interfaces, and robust reporting and analytics tools.
By providing visibility into spending, identifying inefficiencies, and enabling better negotiation with suppliers, spend management helps organizations reduce costs and allocate resources more effectively.
Yes, spend management principles can be applied across various industries to control costs, improve efficiency, and enhance financial decision-making.
Common challenges include resistance to change, data silos, lack of visibility into spending, and integrating new systems with existing processes. Addressing these requires careful planning and stakeholder engagement.
By providing detailed insights into spending patterns and supplier performance, spend management enables organizations to make informed decisions that align with their strategic goals
Many advanced spend management platforms support multi-currency transactions and can accommodate international operations, ensuring compliance with local regulations and facilitating global financial management.
