Expense report programs have come a very long way over the last few years. Today, online expensing software has taken over as the primary option for businesses. There’s a good reason for that – the flexibility, accessibility, and wide range of features offered by online programs mean that you get more from your money. Add to that the fact that you can usually pay less for it than you would pay for offline options and it becomes clear that this is probably the way to go for you.
However, not all online expensing software is the same. You need to make sure that you choose the right one for your business. In most cases, that really comes down to finding the one with the right features. There are plenty of different functions and features out there, but three of them stand out as the absolute most important ones to have in a program. Here’s a look at those three.
- Data Reports – This is pretty standard in most online expensing software, but it’s also incredibly important. Being able to generate data reports means that you will be able to take a closer look at the spending of your entire business and also break things down into more specialized reports. It lets you identify fraud, adjust your policies, and develop new strategies to maximize your company’s potential.
- Credit Card Integration – You might not think that this is that big of a deal, but once you’ve experienced what linking your credit card account to your expense software can do for you, you’ll change your mind. By doing so, you remove the hassle of managing two different accounts at once. It streamlines the entire process and makes it much easier to handle reports, approval, and more.
- Receipt Imaging – This feature allows users to photograph receipts and then upload them into the system with their smart phones or tablets. As a result, they’re able to avoid having to keep track of dozens of receipts and forms and can instantly process their expense and get on with making you money while on the road. This eliminates fraud, reduces errors, and helps your employees do a better job.
These three features are all important, and combine with other features to create the perfect software solution for any business. Look for them when choosing your online expensing software and you’ll be able to select the one that is best for you.