Using Automation To Make Expense Reports Simple And Manageable

Using Automation To Make Expense Reports Simple And Manageable

Using Automation To Make Expense Reports Simple And Manageable As companies around the world continue to grow, many of them have turned to automation to help in a number of different fields. Automation uses various control systems to operate a number of things, including machinery and other applications with minimal or reduced human intervention. From having Gmail automatically sort your emails with labels, or having a program record what you do in Microsoft Office, automation can alleviate any task that you can think of that is repetitive and tedious. There are a host of benefits when dealing with automation. The main advantages are:

  • Increased productivity.
  • Improved quality or increased predictability of quality.
  • Improved robustness (consistency), of processes or product.
  • Increased consistency of output.
  • Reduced direct human labor costs and expenses.

Understanding Expense Automation

Expense report software allows business owners and employees to streamline and automate most of the expense report process. Here is what manual expense reports looks like:

  • Employees incur expenses while on the road
  • They must fill out paperwork and maintain receipt records of each expense
  • Those expenses are entered into the management system by the employee
  • Another employee then reviews each expenses and approves or denies it based on validity
  • The employee is either compensated for their expenses or the expenses are approved and handled by the company credit account

For a company to succeed in today’s competitive market, it needs to be able to not only make money, but avoid spending unnecessary money. That can be quite a hard task to manage. While generating sales and developing solid marketing plans are crucial to a business, managing travel expenses are just as important. Good expense automation could eliminate the need to focus most of your attention on expense reports. With this technology:

  • An employee can incur expenses on the road
  • They can photograph their receipt with their mobile phone and upload it into the system
  • The computer program automatically verifies the facts of the expense ticket
  • Another employee then confirms the approval

With expense automation, expense reports are automatically verified against your protocols. This results in greater accuracy, and the elimination of most types of fraud. Let technology do things for you while you get on with the things that are important.

Having all those small tasks automated will really affect the amount of free time you have. That’s time spent doing something you want to do.