There’s no doubt that spreadsheets are great for gathering data. However, they won’t work that great when it comes to managing expenses. Spending too much time and money on manual expense reporting makes your employees spend less time on important tasks.
Too lengthy delays in the reimbursement process
Making payments on time is the basic function of the accounts payable department. Delays in approval and expense processes can result in late reimbursement and inaccurate results.
Mobile expensing allows your employees to submit an expense right when it happens. This would greatly benefit employees as they don’t have to retain piles of receipts and the reimbursements can happen quicker than ever. The organization can be benefited as it can pull any expense report at any time.
Limited visibility into spending
To keep your spending on the right track, you need to know where your money is being spent. You cannot get clear visibility over your spending through spreadsheets, paper receipts, and lengthy approvals.
Employees are frustrated with outdated processes
Numbers matter for both the organization and employees. With traditional practices, you cannot get the accurate numbers of your spending. This would frustrate your employees as well as affect the financial health of your company. Employee engagement would turn the organization into a more efficient, productive, and profitable one.
Automating the expense process would make it incredibly easy for both employees and organizations to handle the expense management. The expense report solution makes it incredibly easy for employees to follow the rules, abide by the policy, get approval, and lessen manual effort.