There are many benefits to having a remote workforce. Remote workforces save on real estate, increase productivity, and make for happier, healthier employees. However, if managed incorrectly, your remote employees could end up costing you in unnecessary expenditures. In order to keep an accurate tab on your remote employees’ expenses, you will need a system to keep your monetary overhead organized and easily accessible for everyone. Online expense reports are the perfect solution.
Report Expenses From Anywhere
With online expense reports, your expense accounts will be accessible anywhere there is an internet connection. Remote employees can upload expenses while at home or on the road, allowing your accounting team to immediately review and approve these expenses keeping everyone up to date and on the same page, without requiring your employees to be in the office.
Reduce Paper Waste
Online expense reports allow remote employees to submit their expenses digitally which drastically reduces paper waste and streamlines an otherwise paper intensive process. Since employees can sync credit card transactions and upload scanned copies of receipts, online expense reports also reduce the need to keep paper receipts and multiple copies of spreadsheets. This can save your company big money.
Lower Processing Costs
With online expense reports, you can create a personalized, automated workflow tailor-made to work with your company’s expense processes. This will simply and beautifully help you to effectively reduce the hours allocated on processing expenses. Also with built-in features rom rules that help prevent non-compliant submissions to automatic notifications to managers of expenses that require immediate attention, automated workflows can save both time and money.
Reimburse Your Employees Faster
It can be frustrating for employees when there are long delays between expense submission and reimbursement. With online expense reports, information is shared instantaneously. This improves accessibility for faster submission, approval, and employee reimbursement cycles.
Allowing your employees to work without having to deal with the daily hassles of commuting and the costly overhead of office space can be a huge benefit to your company. Studies prove that remote employees are happier, healthier, and have a tendency to be more loyal and productive than employees who work in traditional office. Fortunately, with great tools like online expense reporting software, you can allow more of your employees to work remotely and monitor them as if they were down the hall.