Your company’s bottom line is vital for its success, and as such it’s important that you make sure your finances are managed properly. This can mean a lot of different things depending on your field and your specific business needs, but if you have employees who are on the go regularly, managing their expense reports is a must. Today, most companies rely on good expense tracking software to help them with the process.
While most expense tracking software will have a few basic features that are shared with others, there are several additional features that can truly elevate a program above and beyond the rest. Three additional features stand out as being must-haves, and if you’re looking for a program that will handle your expense tracking needs these are the things you need to look for to get the most from a program.
- Mobile Integration – By using expense tracking software that integrates with mobile devices, you’ll provide your employees with an extra layer of convenience. They can use their smart phones or tablet devices to track their expenses while on the go, eliminating the need to reach a laptop or find a Wi-Fi connection to do so.
- Data Reporting – Using a program that features full data reporting means that you can utilise the data gathered throughout a year or quarter and determine exactly where your money is going and how well it’s doing in terms of ROI. As a result, a good program can help you develop new strategies and policies for your business.
- Receipt Imaging – Receipt imaging allows users to scan or photograph their receipts and upload them into the system. By doing so, they can easily manage their expenses while on the go. This eliminates the need to keep track of large amounts of receipts, file paperwork, and more. It makes it simpler for your employees to keep up with their expenses while on the go, reduces the work you have to do when approving expenses, simplifies the archiving of the information, and eliminates mistakes that could cost your company a fortune.
There are other features to look into as well, but the three listed above can have a remarkable impact on your company’s bottom line, your compliance, and the way that you and your team manage expenses. Look for them when you’re choosing your expense tracking software and you’ll get the best results for your money.