Efficiency can sometimes feel like a nebulous, abstract concept. It means finding better ways to work, but when that work involves certain mandatory actions, it can feel like finding a slightly faster way to do something here, or changing the way information is entered there only has a minimal effect.
But, as the old adage goes, “a little goes a long way,” and having many small improvements to efficiency can have a large overall effect on how a company operates. Expense report software is one great example of this.
A Better Way To Work
The old way of reporting expenses for employees who traveled was a time consuming, tedious process. Receipts had to be collected, organised and filed with a report. Financial departments had to wait until trips were over before complete files could be submitted, then finally reviewed, processed and approved. People had to wait for certain steps to be completed before they could execute their own responsibilities.
With modern expense report software, much of the waiting and tediousness is eliminated. An app for reporting allows employees to make entries for purchases as they happen, an integrated solution with credit cards tracks purchases on company cards automatically. Even receipt collection is no longer an issue if a photo of the receipt is can be taken and uploaded online.
In the same way, financial departments don’t have to wait for complete reports to come in. By consulting the online version of an expense report, purchases and expenditures can be reviewed as they happen. Credit card transactions can be automatically logged and processed. The dreaded pile up when many employees return from a business trip and all begin filing their expense reports can be eliminated from the finance department workflow because much of the processing can begin even before the employees return home.
At every step of the way time is being saved, and efficiency is allowing people to do more. And that has a significant impact on both the quality of the work a company enjoys, and the productivity of its employees. And that is invaluable.