Your business relies on a lot in order to succeed. Managing employee travel expenses isn’t one of the first things that springs to mind for many, but it should be. If you’re serious about getting the best results at expense tracking, finding the right software for the job is the most important step you can take.
To find the right program, you need to pay attention to the different features it offers. And for many, receipt imaging is the most important feature available at the moment.
Receipt imaging is just what it sounds like. With it, an employee will take a photograph of their receipt using their mobile device. The receipt and the form for the expense are then uploaded directly into the online expense tracking system, where it can be reviewed and approved by your team at the home office.
This has tremendous impacts on your expense tracking process and on your company’s bottom line as a whole Consider the following:
- With receipt imaging, employees aren’t forced to manage dozens of paper receipts while on the go. This makes their life easier and lets them focus on other aspects of their job. In other words, it boosts their productivity.
- It can also help improve productivity in the home office. Since your team doesn’t have to pour through a mountain of paperwork when the employee returns to the office, they don’t get overwhelmed when they arrive. Instead, they can track expenses as they occur and stay ahead of the game.
- This helps reduce errors and mistakes, and can also help cut down on expense fraud. This alone helps make it much easier to manage expenses and keep your business moving forwards in the best possible way, and can improve your profit margin significantly.
Simply put, receipt imaging is one of the single most important features to have in a good expense tracking program. If you pay attention to this feature you could move your business forwards towards the future and enjoy greater success. It may not seem like one basic feature is all it takes to get those results, but in this case it could be so.