For any business, the productivity of the workplace is always a prime concern. Although businesses that send employees on frequent travel may not think about it immediately, productivity on travel should also be a prime concern. This is not only because lack of monitoring can mean a lack of focus, but also because minimal oversight provides an ideal chance for internal fraud.
Unfortunately, more companies suffer from this problem than are realized, but expense reporting systems can provide solutions for several of these issues that all impact productivity.
- Minimizing losses – expense reporting systems give managers real time access to employee expenses, which also means that approval or denial can be immediate. As a result, questionable spending is lessened, and employees are less apt to attempt fraud.
- Accurate tracking – expense reporting systems can also be linked to mobile devices and apps, so that employees can easily scan receipts and expenses into the system. Further integration with credit cards and corporate account streamline the process even more, and this frees employees up to stay focused on their work.
- Lessened paperwork – this applies to several levels of the business, from the employee on travel to the administrators who process the paperwork. For traveling employees, no receipts to collect or paperwork to file also means that they can be more productive in other necessary areas of the company. For administrative staff, not having to process and file the paperwork for approval also means that productivity in this area is heightened.
Having these actions automated through expense reporting systems, also streamlines the workflow of processing expense claims. With the automated system, request for approval are filtered directly to the person in charge of this decision, and the request can be fulfilled through the same online process. In this respect the benefits for productivity are dual, since reduction in work on several levels also leads to an increase in time for new work.