Organizations are leveraging technology to automate many of their business processes in order to improve efficiency and productivity. Automated expense reporting processes can help a lot in improving the bottom line. Expense management software provides state-of-the-art features to do so.
Traditional expense management requires lot of manual effort to complete expense reports, submit them, approve them, and send them for reimbursement. It is also difficult to maintain all guidelines and workflows and follow policies. Errors can occur while entering the data into AP systems. These factors become a major concern, and an automated software solution can fix these problems and streamline the entire process.
The advanced software allows you to register corporate credit cards, facilitating automatic download of all transactions into your expense management system. This not only helps save time, but also increases accuracy. As all the expenses are downloaded directly into the system it reduces the need for original receipts. If required, employees can scan and attach receipts to electronic expense reports. Employees can also take picture of the receipts and attach them to expense reports by using their smartphones.
The system enables you to define specific workflow rules and to mandate necessary fields that are to be completed before the reports are submitted for processing. You can also build electronic workflows to improve the approval process. With the help of a web-based system employees can check the status of a submitted report from anywhere, anytime. All report details can be downloaded directly into various accounting applications, eliminating the need for manual data entry.
Robust expense management software automates entire expense reporting process so that you can stay compliant and protect your bottom line.