If you’re one of the countless businesses that relies on traveling employees to keep your bottom line in the black, you’re probably already aware of just how important expense report software can be for your company. By helping you and your team manage travel expenses without hassle and by automating a large portion of the process, these software solutions are a key part of any business strategy. They also offer numerous additional benefits, and depending on your situation you may find that different features are more important than others. One that’s well worth a closer look is receipt imaging.
While it sounds complex, receipt imaging is a fairly simple process to understand. It’s also easy to understand just why it has such a tremendous impact on your company’s performance, and when you learn the basics of this feature you’ll see why the best expense report software offers it as a key feature.
Essentially, receipt imaging is nothing more than a feature that allows your employees to scan and upload images of their receipts while they’re on the go. This eliminates a huge part of the hassle involved with managing travel expenses. In the past, employees had to keep track of each receipt, make note of it, and keep it with them. Upon returning to the office, they then entered their expenses through claim forms and supplied the receipts for approval.
Now, that entire process has been largely automated and drastically simplified. Employees can use their smart phone to take a photo of their receipt and then upload it right into the system, along with a short, easy to complete claims form. On your end, you can review and approve those purchases as they occur.
This setup has some very obvious advantages. For starters, it allows you to reduce the overall amount of errors and mistakes that are common with expense reports. While good expense report software has always reduced errors, it has still been possible to make mistakes due to the loss of receipts. That’s no longer an issue. Along with this benefit, other advantages are present as well. These include:
- Easier to monitor spending while employees are on the go
- Less hassle
- Better compliance
- Better overall productivity
- And more
In other words, the way that you manage your expenses can change completely thanks to the addition of this one simple feature. If you’re looking into an upgrade for your expense report software, making sure that receipt imaging is available is one step you shouldn’t overlook. It could make a huge difference in your bottom line.