There are plenty of different steps involved in employee expense management. Obviously, the process your employees use when keeping track of expenses and submitting travel expense reports will be the first step in the process. But on the management end of things, overseeing, reviewing, and approving a corporate expense report will be something that takes time as well. Speeding up the overall workflow and the approval process is an important aspect of getting the most from your system, and a good expense reporting system like ExpensePoint can make a huge difference in your business’ bottom line.
Using online expense report software doesn’t just simplify things for your traveling employees – it makes it easier for you, payroll, or management to review expenses and approve or deny them. There are plenty of features that help these systems stand out, including the following:
• You’ll have the ability to review expense claims as they occur. Since the system is web based, it’s easy to review data while on the go and easy for you to get daily reports from employees who are on the road.
• The system can be set up with single or multiple approver environments. This means that you can take on total control or provide access to others who have the authority to approve things. And everyone can see what has been done and what hasn’t, leading to improved overall workflow.
• You’ll have the power to approve or decline based on an entire report, or approve and deny individual items at the line level in the report. This way, you can take on greater control over the expense reports as you see fit.
• You can also utilise policy based requirements to simplify the process and ensure uniform approval. It eliminates cases that could be misconstrued as favoritism.
• Thanks to the multi-currency setup, you’ll have no problem reviewing foreign currency purchases and converting them instantly.
• The system is stored online, but can be exported into accounting packages for easier accessibility. In other words, it will transfer into the systems you’re already familiar with for simplicity.
These are just some of the ways that approval and workflow can be improved with the use of automated expense report software. With a few simple clicks you can load up, approve, and file expenses reports as needed and greatly improve productivity. It’s an investment in your company’s future that you simply won’t regret making.