Software is used so consistently in today’s world that most of us never even notice it – it’s become a ubiquitous part of our lives. In the business world, software solutions help with everything from communication to employee benefit management and beyond. If your company has employees who travel for work, you likely use expense report software to help automate and streamline the process of managing their expenses.
Modern expense report software has come a long way from just being a glorified spreadsheet, however. Today’s programs can offer you tremendous features that help simplify the process and make things much easier for you and your employees to handle.
It’s important to note that the gold standard is an online program, and most of the best features will only be available in a system that is online. Here are some of those key features you should look for in an expense report software program.
• Credit Card Integration – This features allows you to link your company expense credit card accounts to the system to facilitate easier automation. It reduces errors and fraud, and makes it easier for everyone on each side of expense management to handle the process.
• Receipt Imaging – This lets employees photograph their receipts and upload them into the system digitally, eliminating a large portion of paperwork and making it simpler for employees to do their jobs while on the go.
• Currency Conversion – Automatic currency conversion programs make it easier to stay compliant and to track expenses accurately even if your team works in foreign countries regularly. This level of automation is a tremendous benefit to business.
• Data Reporting – Data reports let you generate reports about every aspect of your travel expenses. This makes it easier to see who is spending what, whether or not an issue exists, and more. By reviewing data reports you can reduce fraud, develop strategies and policies that drive up your bottom line, and more. It’s one of the most important features to look for.
As with any program, the key to finding your expense report software is to look at what each feature does for your business and determine which option matches the needs of your company the best. Pay attention to the features listed above to ensure that you’re able to find the right system for your company. Whether you’re just starting out or are ready to change to a new program, these features are the keys to success.