Cutting costs and increasing productivity can be achieved by fully digitizing travel and expense management. Besides making life easy, data gathered from the digitized solution lets organizations take a deep look at how and why employees spend business money.
Expense report software is often used as a basic transaction engine; instead it should be used to see system reports. These reports will let you know the point areas of improvement so that you can get a comprehensive and detailed look at business expenses.
Using spreadsheets for expense submission is really frustrating and time-consuming. It requires one to understand, search expenses by category, date and type.
Mobile expense management means savings
Organizations can cut costs by 18% when they switch from manual expense process to mobile management. With a streamlined expense management process, companies can gain increased visibility into your employee travel plans. This lets you control and drive employee behavior so that you can take advantage of spend from individual to organization level. Not to mention the time savings, which is also a significant factor to be considered. The solution would offer intangible benefits to organizations in the form of savings.
Increases spending awareness
By relying on paper processes, you will not be able to figure out who is spending more and in which areas the most spending happens. Traditional processes will not give you much of a clue about business spending. Employees also spend relentlessly without paying attention to the travel policy guidelines. However, having a mobile app that would make you comply with the travel policy in every expense you make would help you get a detailed understanding of where your money is flowing.