Expense reports are crucial to your business. Many large enterprises receive dozens or even hundreds of these reports on a daily basis. With time, processing and verifying these reports could become one of the crucial aspects of your financial transparency regime.
This being the case, it is a good idea to take the step of implementing online expenses systems that will streamline the entire process. However, there are many options out there. How can you be sure that you will have the best system available for your expense reports?
Today’s Technology Landscape Offers Critical Clues For Expensing Effectiveness
All around the world, the technology landscape is changing rapidly. It is evident that the dream of the “paperless office” is closer than ever before, as manual processes are being jettisoned in favour of electronic ones.
That being the case, one of your core concerns in new software for expense reports will probably be security. You should ensure that your new solution uses the highest grade of encryption that is available.
Encryption helps to shield your data from prying eyes as it passes through your corporate network and ultimately goes out on the wider internet so it can be accessed by stakeholders around the world.
A failure of encryption can be a very severe problem — just look at the example of Target Stores and its recent data breach, the unfolding issues with user credentials at online services such as Bit.ly, or the security challenges around the Heartbleed bug.
Security Facilitates Global Performance For Good Software
Once you are sure that the security “backbone” of the software is up to your standards, then you should be equally sure that centralised controls exist to add, edit, remove, and manage users of the system in a refined and granular way.
Being able to restrict permissions for various users is not just a punitive measure. It can also help raise efficiency for those very same users. For example, someone in your business who is about to submit an expense report for travel can be restricted to only the functions he or she will need.
By using this principle, you can make sure that every stakeholder is empowered to do the job at hand, without having to worry that they might stray into other areas not suited to their duties.
With access to your expense reports, an unscrupulous person could do a great deal of damage to your enterprise. However, you shouldn’t be hamstrung by such concerns — instead, beat them back with robust security and reap the efficiency rewards.