Within any business, the need for paperwork, information archiving, and data transfers is integral to the operation of the company. Although the forms and archival data can range across any aspect of the way the business is run, expense reports tend to make up the bulk of this work. While this approach certainly slows down productivity through the creation of redundant work, it can also be costly in other ways. However, online expense report software does provide a solution to multiple concerns.
The Importance Of Going Green
The shift to become more eco-friendly within an organizational structure is motivated by a number of aspects.
- True concern for environmental health
- Concepts of community integration for a business
- Reduction in waste and associated costs
- Better use of existing resources
- Embracing the benefits of technology for stronger efficiency
This also means that the choice to use online expense reporting software can address any one of these factors.
The tendency is that a combination of several of these points will influence the motivation that a business has for going green. Of course, the bottom line and returns on investments will always be an overlying factor for the decisions that are made internally, but online expense reporting software also provides benefits in this arena.
The reduction of paperwork is one of the bigger areas where this technology makes an impact. This is especially true with expense reports for supplies or for travel costs, since the collection and verification of receipts is an integral part of monitoring spending. However, with online expense reporting software, any designated employees also have the ability to scan receipt and transactions at the time of purchase, and automatically send this information to a virtual expense form.
The result is that factors such as lost or falsified receipts, incorrectly processed forms, and redundant paperwork are minimized. For the accounting department or CFO, this means considerably less work involved in verifying reimbursement, and better checks and balances for catching budget issues. As an outcome, work becomes more manageable and focused on growth.
For the employees who travel, or are in charge of corporate purchases, online expense report software also lessens the tasks that are asked of the staff. Instead of being focused on voucher collection and forms, receipt imaging reduces the focus on administrative concerns, and puts the intent back into the context of running and growing the business.
Of course, there is also a larger benefit that online expense report software offers. While going green for the sake of environmental health is admirable, businesses are also finding that eco-friendly solutions are cost reducing overall. By using and wasting less paper, operational resource costs are further minimized, freeing up more of the budget to re-invest in the company itself. This alone can become a strong organizational motivator to go paperless for efficient best practices.