The way that you handle your expense management efforts can and will have a direct influence on everything about your company’s bottom line. But for many, the assumption is that all there is to it is making sure that the right expenses are filed and reported and that you have the right policies in place. There’s a lot more to it than this, and one thing worth considering is what kind of features your software offers.
Good expense management software will provide you with everything you need for your employees to really thrive, and by streamlining the entire process you’re able to boost your bottom line significantly. Receipt imaging is one of the best examples of this, and it’s a feature worth having in any software program related to expense management.
Receipt imaging works by letting your employee take a photograph of a travel expense receipt with their smart phone or tablet and then upload it directly into the expense management system, along with a digital claim form. This eliminates the need to keep track of paper receipts, instantly making a travelling employee’s life easier. Here’s a look at the numerous benefits this offers.
- Fewer errors will occur since the chance of a simple mistake being made are virtually eliminated. Everything is digital and automated, and the entire process of filing, approving, and managing claims is simpler.
- It’s harder for employees to commit fraud, too. Fraud can cost companies billions, and when this feature exists the system makes it more difficult for an employee to defraud your company.
- The increased simplicity of not having to track and manage paper receipts means that your employees will be able to turn in much better work – their productivity goes up dramatically when you eliminate the hassles of receipt organization. They’ll be able to focus on making you money instead of on expenses.
- Your expense management team at home will have an easier job, too. Instead of having to deal with huge piles of receipts and forms when an employee returns home from a business trip, they’ll be able to oversee his expenses on a daily or even hourly basis. This helps boost their productivity as well.
As you can see, using the right expense software features can make a big difference in your company’s bottom line. Receipt imaging is a simple to use feature that you can’t ignore, and it’s one you’ll want to ensure that your team has available.