Making sure that employees abide by the company’s spending policy while submitting expense claims is a tough job. You should find effective ways to enforce the out of spend policy. With the advent of technology, you need not bother about compliance as everything will be taken care by expense management software.
SutiExpense helps you to alleviate challenges and simplify the expense reporting process. Take a look at how SutiExpense protects companies:
An expense policy plays an active role in employees’ expense management. SutiExpense provides you various options like compliance reminders, setting triggers and defining spending limits for various expense categories. If an employee enters an amount that exceeds the limit, the system will generate a warning. In this way, it does not turn into a compliance issue.
In addition to expense policy, one should monitor and enforce the policy. This is lacking in most companies, which is why most organizations are switching to expense report software. It can automatically generate reports, evaluate and re-check the expense reports that are claimed for reimbursement.
Simplifying the process
One way to minimize the risk of compliance is to make it simple for employees to claim expenses. Claiming expenses is a painful task as it is associated with bundles of paper receipts. Whereas, a digital management system provides users a smart phone application to take a snap of paper receipt and upload it in the system. This alleviates the process of manually uploading receipts; hence the entire process gets automated.
A digital system streamlines each phase of entire process. It provides a faster and accurate way to get all expense details together. The bottom line is that it helps to achieve compliance and lets you monitor the expense process effectively.