Manual expense report costs are drastically slashed saving potentially thousands of dollars using the ExpensePoint online expense report software.
Manual Expense Reporting – A Costly Process
It is reported that after payroll, Travel & Entertainment Costs rank as the second most controllable expense for businesses. Over $179 billion dollars is spent annually on employee-based travel and entertainment in the US and hundreds of millions of paper-based reports are filed to account for all of these expenses.The bad news is that for those companies who have employees manually file expense reports either by paper or by spreadsheets, it can cost them up to 7.5 times more in processing time than if they used an automated expense reporting system. The good news is that now they can use ExpensePoint and immediately start saving time and money.
Online Expense Report Software – A Cost-Saving Solution
ExpensePoint provides businesses with the ability to control and monitor their expenses. How?
When you take into account all the process steps taken within the typical expense report cycle it is revealed that the average cost for filing a manual report is estimated at a staggering $75.00 per report. By simply automating this process using an online expense report tool like ExpensePoint companies can greatly reduce that cost to a mere $6.00 per report or less. When the savings are multiplied by the hundreds, thousands or even tens of thousands of reports being filed by each year by typical corporations, the savings are outstanding.
Automating your expense report process with ExpensePoint, can reduce reporting costs by as much as 92% and could add hundreds of days in saved productivity for traveling employees. With ExpensePoint a return on investment can be expected within one to six months, and not to mention the benefits realized in increased employee morale and satisfaction. Consider this; a company that has 100 traveling employees with each employee submitting just 1 single expense report per month could save in its first year a whopping $82,800 in process savings.
The facts speak for themselves; ExpensePoint saves time, money and adds excellent value to a traditionally non-value added process. You can automate your expense report process by going to www.expensepoint.com