If your company utilizes employees who travel regularly to make money for your business, you already know just how important it is to track employee expenses properly and ensure that you get the kind of results you need from the process. Chances are that you use a software program to help with the process. But web based expense reporting is a method of managing expenses that stands out from other options in numerous ways. If you’re unsure as to what it is, how it works, and why it’s worth looking at, you need to take a closer look at it for yourself. It could surprise you.
Essentially, web based expense reporting is exactly what it sounds like. Your team will be able to log into the system using any computer or mobile device with an internet connection. From there, they can upload expenses, scan and upload receipts, and more. On the other side of the coin, you’ll be able to monitor their expense, approve or deny them, and track employee expenses individually or in a group setting.
The benefits to this become clear immediately. By reducing the stress and hassle through automation and streamlining of the different processes involved in expense management, web based expense reporting helps improve the overall level of efficiency within your company and also helps boost your bottom line.
Additionally, these programs can help reduce errors, fraud, and non-compliance. When you consider that every year these three things cost companies millions of dollars, it becomes clear that doing everything you can to improve accuracy and compliance should be one of the key steps any company takes.
Web based programs offer additional benefits, too. You’ll be able to find features that traditional offline programs can’t even begin to offer – things like syncing a credit card account to the expense reporting suite, mobile device connectivity, automatic currency conversion, and much more. Simply put, these systems offer companies a lot of different features that can make the entire process much easier for companies to manage.
If you’re serious about giving your company the right tools to thrive – and you should be – you’ll want to pay careful attention to what web based expense reporting can offer to you. For a low monthly fee you might be able to get a big increase to your bottom line and reduce the stress and hassle for everyone involved in the process.