T&E is a tedious process that wastes employees’ time, and therefore, automation in the process is welcomed by all the stakeholders. Here are some areas in T&E where automation really helps:
Expense reports have to be filled by employees on their return from trips. This is one of the most tedious areas of the entire process, and is prone to mistakes due to human errors and fraud. Therefore, by automating this part, there are many advantages – a lot of employee man hours are saved, reporting is done in a standardized manner, and there is no scope for fraudulent entries in the expense reports.
The software also features OCR, which means that all employees need to do is scan the receipt they get and the expense item is filled up.
Users have the chance to automate approvals using the expense software solution. The solution will help with ferrying expense reports from one stakeholder to another efficiently without bottlenecks. Also, sometimes, expenses totaling to a certain amount can be passed off to the next level without approvals. In such cases, the software can directly send these reports to the finance team for reimbursement. Additionally, the software also aids approvers by rerouting them automatically when approvers are unavailable or swamped with work.
The good news is, even reporting can be automated using expense software. All the stakeholders in the process would like to know what’s going on but they don’t have the time to actually go and look How nice would it be to have reports delivered to their inboxes periodically, reports which tell them what’s happening, where the process is lagging, and what needs to be done to improve the process? This is possible with expense solutions.
Automation is slowly creeping into all aspects of expense reporting today. Get expense report software to do more with fewer resources.