Expense reports are one of those things that nobody really wants to deal with, but that any business with traveling employees must handle. To simplify the process, using good software programs can help tremendously. However, not all programs are created equally. If you want to ensure that you get the absolute best results from your efforts, you’ll want to remember a few key things.
Most important is choosing the right program for your needs, and when it comes to managing expense reports there are many features offered by great software. If you’re looking for the right program, here are some of the main features to look for. Each one could help simplify the process tremendously.
- Currency Conversion – This feature does just what its name suggests. It will allow users to add multiple currency purchases onto a single report, and will also handle exchange rate conversions automatically. If your team travels abroad for business, it’s a must-have.
- Receipt Imaging – Using smart phones or tablets to scan and upload receipts is important, too. This helps eliminate a huge amount of hassle from your employees’ daily routine while on the go, and can also reduce errors and fraud in the process. It’s a big reason that online expense software has taken over the marketplace, and one of the absolute most beneficial features offered today.
- Credit Card Integration – The best programs will allow you to connect your credit card accounts to the system. This way, you streamline the process of managing expense reports as well as the financial records they’re tied to.
- Data Reporting – Taking a closer look at your expense information can help you see problem areas, develop policies and strategies, and more. Look for programs that offer data reporting features if you want to get the most from your investment.
If you’re looking for a good program, the features above are the main ones to have. You may also be surprised by the pricing of most expense reports programs – online options are often inexpensive and charge only on a per-month basis. As a result, you don’t have to invest a lot to find out if you really like a program. You can try it for a few months and see if it’s right for you. As long as you find a system that has the things listed above, the odds are strong that you will indeed be able to get tremendous use from it.