Shopping around for the right expense programs for one’s business is something that can take serious time and consideration. After all, you want to be sure that you get the best possible solution to all of the different factors involved in your company’s success. At their most basic, you’ll want to focus on the fundamentals of the program. A straightforward program should allow you and your employees to manage expenses related to travel without any hassle, entering in information and approving the various expenses.
But beyond that basic principle, there are also several key elements that need to be in place. The best expense programs have several features that help them stand out as being worth your time and money. Here are several of the main features you’ll want to make sure are present when you choose your program.
- Online Connectivity – Online expense programs are a much better choice than offline options. This is because of the increased accessibility that they allow you and your employees. When employees can log into the system from any point with an internet connection, it’s possible for them to enter their expenses while on the road. This allows you to monitor expenses, approve them, set up automated factors, and more. And, online programs offer additional features.
- Receipt Imaging – Managing expenses is difficult enough on its own, but it’s even more difficult when you’re dealing with mounds of paper receipts. Receipt imaging makes it easier for your travelling employees to enter their expenses, and easier for you to approve them and to manage records afterwards. Receipt imaging lets your team take photos of their receipts and upload them digitally into the system.
- Data Reports – Data reports should also be available in good programs. You can use the information to review the different ways expenses are turned in, processed, and more. This lets you develop strategies, policies, and plans.
- Credit Card Automation – Credit card automation lets you link credit accounts to your expense accounting system. This helps cut down on red tape and makes it easier to avoid mistakes that can occur. It’s another feature to make sure is part of your program.
The bottom line is simple – not all expense programs are created equally. Make sure that the features listed above are present in your system to ensure that you’re getting a program that gives your business the most advantages.