Unnecessary paperwork takes up time, and not only does this lower employee morale, but this time costs money as well. Manually tracking, logging, and filing expense reports takes a significant amount of time, and getting an accurate report with manual filing is more difficult when compared to automated filing. With automated expense report filing, such as ExpensePoint, an employee doesn’t need to waste time by manually filling out reports, and expenses are tracked more accurately as this can be done in real time while on the go!
With automated expense report programs, businesses can create a more streamlined expense report logging and filing process through easy to use software that allows their employees to track expenses no matter where their business may take them. If an employee is on an international business trip, they no longer need to worry about saving and taking with them all of the receipts they collect throughout the course of the trip in order to file with an expense report later, and all expenses can be reported as they are created.
If an employee takes a client to a lunch meeting, rather than saving the receipt and logging expenses to be used later to manually file a report, they can log their expenses from the table and photograph the receipt to be uploaded onto a digital report instead. Once they get back to their hotel room, or in the cab on the way home, they can send this expense report over to the financial or management department back home to have their expenses approved or reimbursed, all in real time!
On the manager’s or accounting department’s end, this is also very beneficial. Mounds of expense report related paperwork can be accumulated from a single trip, and for larger companies this can mean hours of sifting through expense reports in order to gain an accurate account of all the expenses being incurred. This is time that can be better spent on other productive activities, and digital reports from automated expense reporting programs allow business owners to do just that! The streamlined process allows for current and accurate expense data to be analysed without the excess paperwork or filing, providing businesses with a better idea of their bottom line!
Automating expense reports is a decision that provides many benefits, as it allows for less busy work for employees and management alike. This reduced work will lead to higher morale and better productivity, while still allowing optimal expense tracking benefits!