When you think of expense reports, it’s pretty common to feel a sinking sense of stress. After all, managing expenses isn’t always easy to do. And the more employees you have on the road, the harder it can be. That’s why taking the time to give your team all of the best tools out there is important. One of the best options is an expense program that offers receipt imaging through mobile devices. Taking a closer look at this feature is something well worth doing, and something that could change your idea of what expense report management can do for you.
First, it’s worth understanding just what receipt imaging is. When your employees are on the road, they’ll have to keep track of all of their business related receipts. Then when they return to the office, they’ll fill out expense reports and file them for approval. With receipt imaging, they simply use their mobile device to take a photo of the receipt and then upload it into the system.
This eliminates the need to keep track of dozens of receipts and helps your team escape from the hassle of doing so. When a purchase is made, a hotel room is paid for, and so on, they will be able to upload the image instantly. If you’re not convinced of the benefits this offers, consider some of the following.
- By eliminating the hassle your employees have to deal with when managing expenses and receipts on the road, receipt imaging can help them increase productivity. They’ll be focusing their energy on other things instead of keeping up with receipts, which means better profits for your company.
- Expense reports are one of the biggest areas of fraud and noncompliance in a company. With receipt imaging you reduce that significantly. Every expense can be monitored as it occurs, which translates to knowing more about what is going on.
- You also have less hassle when employees return home. Instead of having a mountain of receipts to deal with, you can easily review the reports as they occur. This keeps you focused on other tasks as well.
- Archiving benefits as well. The process of managing expense reports means keeping records for years, but with receipt imaging you can keep that information stored digitally instead of accumulating countless filing cabinets of paperwork. It’s easier to find the info when you need to review it, too.
Simply put, receipt imaging is one of the best features you can find for your expense reporting software. It’s easy to use and could help elevate your profit margin substantially.