The modern business setting is no longer the same as traditional office settings. Although many companies still maintain a corporate headquarters and internal space for operations, the truth is that expansion really does rely upon the ability to connect globally and to represent the company by means of mobility. Even regular work settings are shifting, as more employees find that their office is in constant transit.
The current social attitude of constant progress and engagement also means that travel and even remote work settings will need to be incorporated in the process of keeping track of expenses. This can become an overwhelming task for many account departments, especially when employee travel is integral to the process of growing the business. However, advances in both technology and software will make keeping track of expenses a more manageable task.
The Mobile Revolution
Digital channels and mobile access to inter and intra net resources can provide a valid and reliable means of keeping track of expenses. The use of expense management software offers businesses the opportunity to integrate access and streamline the manner in which approvals for reimbursement are allocated. This can further ensure contact, communication, and validation, even for employees who are attending to business in remote locations.
Regardless of the scope or size of a corporation, keeping track of expense, especially during travel, does represent a major area where losses can be staunched. With software that generates an integrated network of expense tracking, keeping track of expenses can be as simple as using mobile technology to improve the process of monitoring.
Real Time Verifications
For employees, this means that simply scanning receipts for approval and documentation can not only happen in real time, but can also prevent:
- Excess paperwork
- Loss of receipts
- Questions regarding receipt tampering
- Oversights in management approval
All of this not only allows the company to keep track of expenses, but also helps to support employee accountability and responsibility for travel spending and best practices in the use of funds. This helps to minimize losses but further supports the organizational culture of loyalty and honesty in action. Keeping track of expenses is not just a task for the accounting department, but is an issue that can impact the entire corporation.