Setting Up Your Expense Report System For Better Success

Setting Up Your Expense Report System For Better Success

Setting Up Your Expense Report System For Better SuccessBusinesses with employees who travel regularly already know how important managing their travel expenses can be, and the fact remains that using a good expense report system on your computers can be the key to this. But while it’s important that you take the time to find the best software for your needs, there’s something else that deserves your attention as well – making sure you set it up properly to get the most from it.

There’s a lot more to using an expense report system than just buying it and installing it. If you’ll keep the following points in mind, you’ll get much more from it and see better success as a result. 

  • Start by getting to know all of the features that are offered through your expense report system. Things like receipt imaging and credit card integration deserve to be used, and that begins by understanding how they work and setting them up. Learn about all of the features first and you’ll probably end up using each of them. If not, at least you know what your software is capable of in the future. 
  • Be sure to use variable access controls and to make certain that your protocols and policies are represented and automated by the system. This is the part that takes the longest, but it’s worth making sure that each person is able to access exactly what they need to, and that your automation is working to streamline the process for your company. 
  • Educated your employees. Start by making all of your expense policies clear. They should have no question as to what expenses are allowed and which ones aren’t so that they don’t waste time trying to upload an invalid claim. Then, when they understand your expense policies, move on to teaching them about the software so they can use it to its fullest. Those great features aren’t worth a dime if your team doesn’t use them.
  • Finally, monitor the expense report system regularly. By using data reports you can get a clear idea behind what’s working and what isn’t, who is spending what, where your biggest costs are coming from, and more. This can help you realign your strategy, change expense policies, and even identify fraud or other issues. 

If you’ll give your expense report system the time and attention needed, you can truly elevate your results from it and give your company extra advantages that will help it grow. It’s not that difficult, but the payoff is remarkable.