What Receipt Scanning Can Do For Your Employee Expense Report?
One of the most important features you should look for when choosing an employee expense report program is the ability to handle receipt scanning. With this feature, employees who are on the road can scan or photograph receipts with their mobile devices and then upload them into the expense report system. Since everything is managed online, the devices connect to the same system that a computer would – everything is linked up perfectly.
The ExpensePoint receipt scanner feature makes a huge difference in the ease of your employee expense management. There are several key reasons as to what that is. They include:
- Less Work For Employees – Your employees already have a lot of tasks to handle when they’re on the road. By introducing a receipt scanning to the system, you make it easier for them to keep track of their expenses. They no longer have to constantly carry around dozens of receipts and forms, which will help them focus on more important tasks on the road.
- No Lost Receipts – A single lost receipt can be bad news for you or for your employee. But with receipt imaging that isn’t a problem. Once they scan the receipt and upload it, it’s on the servers where it belongs. That means that you don’t have to worry about missing papers anymore.
- Monitor As They Spend – When employees use a receipt scanner with an online expense reporting program, you can actually monitor their spending in real-time. You don’t have to wait for them to return to the office, and as such, you can get a head start on the job of reviewing expenses and also monitor what’s going on.
- Easy To Review Data – You will also be able to review data in easy-to-read report formats. Instead of trying to piece together hundreds of receipts, the receipt scanning tool will give you a detailed look at employee spending that you can use to develop new strategies or policies.
Simply put, switching to an online employee expense program such as ExpensePoint with a receipt scanning feature is something you need to consider. It could help automate your business expense reporting in a big way.
How Receipt Scanning Makes Expense Reports That Much Easier?
Receipts are the kind of thing that you hardly even think about unless you’re on someone else’s dime. For the most part, we get them, we crumple them up, and we toss them, and if we hang onto them for any length of time it’s only so we can make sure an expensive purchase isn’t a dud first. On the other hand, it’s good manners to keep a receipt for a gift until you know it’s accepted, and you’ll need a receipt for your expense reports if you want a cent of it compensated.
However, it can be bothersome to hang onto all the receipts you need to file a full expense report, especially if your business trip extends past more than a week. That’s why it’s been common for a while now to create copies, take photos, or send them through fax machines, but thanks to modern smartphones and mobile apps it’s easier than ever to attach your receipts to your expense reports even as you acquire them.
The big change is thanks to new expense report apps which automate the process to the point where you can handle everything with your mobile device. By using the high-resolution camera on your smartphone, you can take a picture of each receipt and attach it to each item you intend to claim. After that, you can still hang onto the physical copies for backups, but thanks to the automation and convenience of expense report apps you likely won’t have to hold onto it for very long before your report is approved or rejected.
Expense reports are never the most pleasant part of a business trip, but they’re a necessary part. Fortunately, with receipt scanning and other new innovations, writing up a report and receiving your compensation for an expense claim is easier now than ever before.
Why Receipt Scanning Is One Of The Most Important Features In Expense Report Software?
Receipt scanning is just what it sounds like – through the use of a mobile device like a smartphone or tablet, your employees can take a photo of their receipts and then upload those images into the expense report software program for approval and archiving.
This has some very obvious benefits, and looking at them should help you see why it’s so important to make sure your program has this feature included in its range of functionality. These benefits include:
- Less Hassle – By letting employees avoid the need to keep track of dozens of paper receipts while they’re on the road, you’ll give them much less stress and hassle. This means that they can focus more on getting their job done.
- More Productivity – That in turn translates into better overall productivity from you and your workers, which can increase your profit margin in a big way.
- Fewer Errors – Mistakes happen, and they can add up quickly with travel expenses. But with receipt scanning, those mistakes are greatly reduced. It reduces fraud as well as honest mistakes and helps improve the way you track expenses.
- On The Fly Approval – You also don’t have to wait until your team returns home to review their expenses. As the receipts are scanned into the system, you can monitor those expenses and approve or deny them instantly. This means that you get faster, more accurate tracking of employee expenses no matter what.
Simply put, when you’re looking for expense report software you owe it to yourself to find a program with receipt imaging. It’s a feature that is too important to ignore.
When Having Receipt Scanning Within Your Expense Reporting Software is beneficial?
Receipt Scanning Benefits
- Reduced Paper Trails– By reducing the amount of paperwork for employees to have to keep up with, employers will ensure that paperwork is not lost. The number of resources, that have to be used, to try and account for missing expenses, can be focused on more productive aspects of your business. In the technological era, pictures and the web, are the norm, so receipt imaging can be easily incorporated into an employee’s routine.
- Fraud Becomes Harder To Commit– Giving people the benefit of the doubt, is what most people try to do, but business owners can not afford to think in this manner. Having reliable expense reporting software, with a receipt scanning feature, can reduce these instances. Regardless of whether the fraud was intended intentionally, or not, it costs the business money, which should be avoided at all costs.
- Saving The World, One Receipt At A Time– Receipt scanning goes far beyond just making life easier. Going paperless will reduce other business expenses as well. Less ink, toner, and paper will have to be bought, helping out your bottom line. Trees are cut down at an alarming rate, each and every day, for the production of paper. The amount of discarded paper that fills landfills, is constantly growing, but going paperless reduces this process.
Complicated, stressful, and time-consuming, are all words used to describe expense reporting in the past. Receipt scanning helps to reduce these problems, should they arise. With a few swipes of your finger, you can capture an image of the expense receipt, and be done with the worrisome process. The image is then easily sent to the proper channels for processing, and you can attend to more important business matters at hand.