When you think about fun, your expense report duties are probably near the bottom of the list. Filling out an expense report can be a harrowing experience, since you know that a relatively minor error can have such major repercussions down the road.
This effect is amplified as individuals climb up the corporate ladder. It becomes ever more important that all of their activities be transparent and verifiable, yet only at the top of the hierarchy can they truly delegate the matter.
That being the case, you can consider expense report software for several reasons:
— Software can help to reduce human error and thus take away many major concerns.
— Software can help raise morale as reports are generated in a more streamlined way.
— Software can help the central organisation check for errors without being heavy-handed.
How Much More Efficient Would Your Business Be If An Expense Report Was Instant?
Odds are good that your business already has a robust reporting regime in place, with various policies and standards that everyone is expected to adhere to. However, if you examine each situation closely, you’ll probably learn that most people do not adhere to your policies 100%.
Unless you are in the finance department, very few people enjoy filling out financial forms. They might procrastinate or have other issues that hamper their productivity in this matter. Likewise, they might find that the environment they are working in is not conducive to such issues.
For example, consider business travelers. Anyone who has traveled abroad and then realised they do not have a pen to fill out the debarkation card at their destination knows, albeit with a wry grin, that handling paperwork during travel can be difficult.
With the right software, however, things become much simpler:
— Software can facilitate the process of reporting necessary details from anywhere in the world.
— Software can help verify the information that is provided and “red flag” any clear exceptions.
— Software can do the important math of currency conversions, VAT taxation and other issues.
When all of these factors are taken into account, it’s clear that the right software solution is key to making reporting easier. When it becomes easier for those “front line” business travelers who are making critical decisions, then it will also be easier for the regulatory department within your company.
Of course, the sooner you implement a new solution suite, the sooner the learning curve will be mastered. That being the case, you can reap higher ROI by acting sooner rather than later.