Formulate a Robust Financial Strategy: A Comparative Analysis of PeopleHCM and Akrivia HCM for Small Scale Chain of Day Spa

Managing expenses isn’t always easy. The last thing you want is for bills and receipts to pile up! The consequences of poor expense management can be damaging for both businesses and employees alike.  

Increased risk of fraud and overspending.  
Excessive and unjustified expenses. 
Tax compliance problems. 
Delays in reimbursing employees.

This is where HCM systems step in. 

A sound expense management system lets you see how much is being spent, who is spending money, and what they’re spending it on.

The two leading expense management solutions here are PeopleHCM and Akrivia HCM, each offering a range of features for small chain of day spas.   

This comparison summarizes the key features, expense management, receipt tracking, bill pay automation, Customization and Flexibility, Integration Capabilities, and cost-effectiveness for small enterprises. By assessing these aspects, small day spa chains can manage their expenses more effectively, allowing them to focus on growing the business rather than on manual processes. 

Credit Card Reconciliation

Integrated credit card reconciliation for accurate expense management.  

Compatibility with Other Systems

Integration with existing systems, optimizing data flow, and minimizing errors.  

Ease of Use

Intuitive interfaces for easy adoption, efficiently enhancing user experience.  

Customer Support

Responsive customer support for quick issue resolution and uninterrupted system usage.

Futureproofing

Scalable solutions to adapt to evolving business needs and ensure longevity. 

Expense Tracking and Reporting

Features for insightful expense tracking, analysis, and customizable reporting.  

Compliance and Security

Stringent security measures and regulatory compliance for protected and compliant financial operations. 

PeopleHCM

PeopleHCM is a comprehensive expense management platform tailored to meet the evolving needs of small day spa chains. 

PeopleHCM is a comprehensive and scalable HCM software solution that streamlines expense management. It offers inbuilt automation, superior customer experience management, and delegated access for users to make changes without IT involvement.  

PeopleHCM’s expense management solutions offer advanced tools ensuring compliance, efficiency, and real-time insights. 
Its features include one-click receipt management, credit card reconciliation, and seamless integrations.   
This innovative solution simplifies processes for both management and employees, enhancing transparency, reducing burdens, and optimizing financial control.

About Akrivia HCM

Akrivia HCM provides businesses with an efficient global payroll solution to ease international workforce management. It focuses on payroll compliance issues and offers some HR tools. Akrivia HCM’s extensive payroll solutions and compliance capabilities effectively support a diverse workforce. 

PeopleHCM vs. Akrivia HCM

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Basis of Comparison	PeopleHCM	HRone
Expense Management	Streamlined processes with HR tech stack	Comprehensive platform for personal and business use.
Receipt Tracking	One-click scanning for effortless expense tracking	Offers easy configuration, but the occasional complexity in navigating certain features makes it less favorable for first-time users.
Bill Pay Automation	Corporate card reconciliation for efficient spending management.	Automated approvals and payments with bill pay automation but with fewer automation features than PeopleHCM.
Customization and Flexibility	Offers flexible packaging and customizable pricing, catering to the specific needs of small day spas.	Provides tailored solutions for small day spa chains but may need more flexibility in packaging and pricing than PeopleHCM.
Global Reimbursements	Create expense claims for multiple currencies in one go and convert them to the base location currency.	It provides reimbursement in local currencies but lacks multiple-currency reimbursement.
Integration Capabilities	Offers strong integration capabilities with other accounting and HR systems and third-party tools for financial synchronization.	It provides extensive integration capabilities but lacks in broader third-party integration.
Cost-Effectiveness	Offers competitive pricing plans suitable for small day spa budgets.	Cost can be a hurdle for small chain of day spas.

Let's Compare

Expense Management

Track, Manage, and Reimburse  

Akrivia HCM provides a robust set of features, but PeopleHCM takes it a step further by offering a comprehensive and holistic approach to track, manage, and reimburse expenses efficiently. 
In comparison, PeopleHCM provides easy integration with various tools seamlessly into a unified platform, providing an all-encompassing solution for expense management.

Receipt Tracking

Streamlined Receipt Tracking  

Akrivia HCM allows users to scan and auto-populate specific fields, but PeopleHCM excels in streamlined receipt tracking facilitated by a user-friendly mobile app.  
PeopleHCM’s efficient and accurate receipt tracking and simple interface make it the preferred choice for hassle-free receipt management.
The simplicity of the interface and the efficiency of the tracking system make PeopleHCM a preferred choice for small chain of day spas that seek a hassle-free way to manage and organize their receipts.

Global Reimbursement

Caters to Diverse Financial Needs  

While Akrivia HCM reimburses in local currencies, PeopleHCM outshines Akrivia HCM in its global reimbursement capabilities, supporting various currencies in over 190 countries. This versatility ensures that small chain of day spas have a solution that caters to their diverse financial needs.  
Additionally, PeopleHCM's provision of virtual cards adds another layer of convenience and security, offering a reliable means for making online purchases without a physical card.

Cost Effectiveness 

Scalable and Cost-effective

Akrivia HCM generally involves higher starting costs and additional fees for advanced features. While it provides robust HR software capabilities, the cost might be a consideration for small chain of day spas with limited budgets. 
PeopleHCM offers an affordable solution with free plan options, making it especially suitable for small enterprises. 
PeopleHCM’s scalable and cost-effective pricing model means that as your business grows, you can adjust your plan to fit your expanding needs, providing better value for money in the long run.

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Conclusion

Taking control of your expenses is essential, even if it can be time-consuming. But PeopleHCM’s automated expense management provides a hassle-free, efficient, and accurate way of tracking expenses. 

PeopleHCM shines with its user-friendly interface, transparent pricing, and strong expense management features. These make it well-suited for eliminating errors and manual data entry and providing real-time visibility updates, making it easier to manage expenses across different departments and teams.

Elevate your expense management with PeopleHCM’s tailored solutions! 

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