Important Overlooked Features Of Good Expense Management Software

Important Overlooked Features Of Good Expense Management Software

Important Overlooked Features Of Good Expense Management SoftwareIf your company relies on employees who travel in any capacity, you likely have some kind of an expense reporting system set up for them. And if that’s the case, it’s almost a guarantee that you utilize expense management software of some kind. However, there’s also a good chance that you aren’t getting everything you could be getting from a program. Today’s software solutions are filled with features that stand out and offer even more ways to get the most from your efforts at tracking and managing expenses. As a result, it’s important to look into some of these features.

But instead of looking at obvious features that stand out and are the biggest drawing points to a program – things like receipt imaging or multiple level access or data reporting – it’s important to also examine some of the expense management software features that are regularly overlooked. Here are a few that could impact your expense management efforts in ways you might not realize.

  • Credit Card Integration – Linking your credit card account directly to your expense management software isn’t something many people pay attention to at first. But it could lead to some significant results. In particular, it adds yet another level of automation to the system, ensuring that you’re able to skip another step and reduce errors and hassles even further.
  • Offline Functionality – Most people are already aware of how important it is to use an online program. But it’s equally important that the program be able to provide offline expense report management capabilities as well. This allows your team to generate expense reports and edit them while they’re in an area that doesn’t have the internet – on a flight, for instance. Then, when they return to an internet-ready area, they can upload the reports. It’s a layer of flexibility that is incredibly important to add to any system.
  • Multi-Currency Capabilities – It’s also important that your system be able to handle multiple currencies automatically, especially if your team travels regularly overseas or outside the country for work. The best programs will automatically convert currencies to your home currency, making it simple to manage multiple currencies on a single expense report.
  • Sale Tax Features – Additionally, it’s important that your program be able to account for sales tax in various countries, applying all applicable taxes and fees to the report instantly instead of making you go through the manual process.
  • Support – This one is overlooked until you need it, but knowing that your expense management software has a strong support system in place in case you have questions or problems is vital as well. It’s not something you want to overlook in the least.

If you’ll make sure that your expense management software offers the main features you would expect and also offers overlooked features like those listed above, you’ll be able to relax with the knowledge that you’ve chosen the perfect system for your company.