Managing expenses can be daunting and is not a favorite task for most to do. This is true for employees submitting them and for the administrative department reviewing them. It is a cumbersome and slow process from start to finish, which includes handling outdated solutions, sending multiple emails, and waiting too long before getting reimbursed.
Whether you like it or not, almost every staff must deal with expense management. No matter whether you work in small to medium-sized businesses or large corporate sectors, at some point, your employees will incur some expenses that require reimbursement.
But, it does not have to be that way anymore!
You can choose to utilize a travel and expense management tool that your employees will love. However, it’s essential that you understand what tools and features they will require. What then should you start looking for? Read on to check more about the factors that make a T&E platform work, and the reasons you should care about providing one to your staff.
- Excellent Features
Submitting, processing, and reimbursing expenses is already a time-consuming task and becomes worse when employees are forced to use manual processes. Many out-of-date digital tools are slow and only have a limited number of features. These features are also not upgraded for modern office work, which can be aggravating for your team members, as it limits them in productivity.
Everyone likes saving time, and that is exactly what a modern software solution allows you to do. For instance, when an OCR or optical character recognition is integrated, the application can parse expenses from a photo of your invoice or receipt automatically into the system. There is no more need to enter data manually and users can process their expenses more quickly.
Expense line-based reporting can also put a smile on employee’s faces. Earlier, getting money back signified filling out report forms individually for each expense. It is something that affects how rapidly they would be reimbursed.
A modern travel and expense management app does not work with traditional software. Rather, it allows you to create line items for anything you require to expense, hence making a flexible solution that gives your staff more freedom.
2. Relevant for Multiple Departments
An interesting factor of an expense management system is that it’s never used only by a single team. There are at least two departments who need access. For example, employees who file expenses and others who deal with processing them. Hence, both these departments require a different set of tools to complete their work. However, many solutions force every employee to use it in the same manner.
A modern travel and expense management platform can offer you a better experience. As an employee, when you are only submitting an expense report, there is no need to display features that are only used by the financial department, and vice versa.
3. Great User Experience
Today, more and more digital applications that we leverage have been meticulously designed to generate the best experience for the end-user. By leveraging informative animations, simple layouts, and legible typography, the solutions are easy to use and understand, no matter your digital literacy.
But unfortunately, many solutions have been created to be functional and are not pleasing to the end user. These rough interfaces tend to hide essential features in some hard to discover places, or work in an illogical manner. They can take a long time for new workers to understand, making it necessary to implement extensive onboarding, which is time-consuming.
When teammates use websites and smartphone applications every day, they expect the same outcome from the apps they are required to use for work. A good expense management solution puts the user as the top priority, by offering them simple experiences based on workflows. This will help employees complete their work smoothly and without any interruptions, thus making for a better and more efficient workday.
Expense reporting should not be something that your team should be afraid of. Rather, managing expenses can be fun, easy, and quick. Hence, switching to a new expense software can take time and energy, but in the end, will pay off. To do their best job, you must give your employees the best tools – a platform with a great design and the best features will make expense management a breeze.