Managing expense reports is an onerous task for both employees as well as employers. As the company grows, the onerousness of expense reporting only grows, and hence the right practices have to be adopted to manage expenses the right way.
On the other hand, auditors need to face a number of challenges in every phase of the expense reporting process. This may require a lot of time and effort to audit, review, and route the reports to the finance department. SutiExpense accelerates the process by streamlining every phase of the expense lifecycle. The following are a few key challenges that the software can help you overcome with ease.
Matching expense reports with receipts
With hundreds to thousands of reports being filed every month, it is very difficult to compare and contrast each expense with the actual receipt. Not only it is a time-consuming process but also needs lot of resources and patience. Most organizations say that around 80% of reports are not fully reviewed; on average, one in five expense reports does not comply with the company travel and expense policy. SutiExpense overcomes this challenge by auto-matching reports with the receipts. You can view both the reports and receipts side-by-side, so if there is anything that needs to be corrected, it can be done at that point of time.
Whenever there is any issue in the report such as a missing receipt, submitting duplicate expenses, or not abiding by the company’s spending policy, the auditor will have to approach the respective employee and explain where it went wrong. This will waste a lot of time for both employees and employers. But when you deploy SutiExpense, you can send automatic reminders/alerts regarding any report corrections, thus eliminating the need for physical reminders.
Too many expense reports
As more and more expense reports get added to the queue, auditing all these makes employers run out of time. On the flip side, employees are stuck with expense reports and wasting a lot of time by filling expense reports and making corrections. Our online expense report software helps you organize everything the right way, thus making it easy for everyone to deal with expense reports.
In addition to the above listed, there are a lot many features that SutiExpense offers to its users. Deploying SutiExpense is the best thing you can do to make your expense management easy.