The potential problems associated with the manual expense reporting process are many, the biggest being the time and effort required to complete the expense reports, process it, and enter it for payment. By using advanced technology, organizations can substantially improve and streamline employee expense reporting. Expense report software automates everything, from report creation and approval through reimbursement.
An expense report solution integrated with corporate credit cards facilitates the automatic download of all transactions into the system. This eliminates the need for employees to manually enter the transactions into some manual reporting processes. As all transactions are downloaded directly into the expense reporting system employees need not collect and carry original receipts. If needed employees can scan and attach the receipts to electronic expense reports. Another easy way is by using the mobile app. Employees can take a picture of the receipt and attach it to expense reports. It not only saves time but also increases accuracy as well.
Organizations can define workflow rules and mandate certain fields to be filled before the report can be submitted for processing. The automated system offers electronic workflow rules that facilitate the approval process. The online solution allows employees to check the status of a submitted report at anytime, from anywhere. By using the mobile application, approvers/managers can review and approve reports while on the move. Once the approval is done, the appropriate report details can be downloaded automatically into various accounting systems, eliminating the time-consuming and tedious task of manual data entry.
Web-based expense report software provides ample opportunity to improve speed, accuracy, and compliance of your expense reporting process.