It’s no big secret that expense reporting programs can make a huge difference in the bottom line of businesses today. After all, they provide a way for businesses to reduce the workload associated with expenses, to boost productivity, and to improve accuracy in their reports in significant ways.
But not all expense reporting programs are created equally. Today’s systems offer a wide range of different features that help them stand out from one another. If you want to get the best results from your program, it’s important to look more closely at the features it offers. Here are 5 of the big ones you’ll want to look for.
- Online And Mobile Access – This is a standard feature, but one that is incredibly important. Being able to access the program from a mobile device means better connectivity and better results from its use. It’s too important to ignore.
- Receipt Imaging – Mobile access also gives you the power to use another great feature. Receipt imaging lets users take a photograph of their receipts and upload them digitally right into the system. This eliminates a lot of paperwork and hassle since your travelling employees don’t have to keep track of their paper receipts.
- Credit Card Integration – Many businesses actually use a credit card account as their expense tool. Employees use the credit card while on the road and then their expenses are checked to ensure that they’re all applicable travel expenses. But this used to mean going through two separate systems to verify everything. Now you can link your credit card to the expense reporting programs and eliminate that extra step.
- Automatic Currency Conversion – For companies that do business across borders, the different tax laws and the currency conversion rates can add a confusing element to the process of managing expenses. But today’s programs make it easy to do since they handle most of the job automatically.
- Data Reports – Data reports give you a close look at your company and how your employees are spending money. You can look at their expenses, identify what is working, spot fraud, and change your strategies or policies based on the information in these data reports. They’re one of the most powerful tools an expense program can provide, so be sure you find one that includes them.
These five features can make a huge impact on your ability to get the most from expense reporting programs. Take a look to ensure that they’re present when you choose your system and you’ll be able to rest easy knowing that your system is working the right way for you.