![]() ![]() Fast to file.Įven assuming that every expense report is perfect, they still take far too long to submit. And these tools come with OCR technology that reads receipts for you and ensures they match the claim. These errors add up, and can become a serious time drain for your teams. And that assumes you catch these mistakes in the first place.īecause automation tools walk employees through claims step by step, it's far more difficult for errors to slip through. Fewer errorsĢ0% of expense reports are filed incorrectly. We ask employees to pay with their own money, then effectively punish them further with paperwork just to get their money back.Īnd worse, this paperwork then lands on their manager's desk, the finance team's too, and the accountant's. Why automated expenses reports are so excitingįew business processes are more disappointing than expense reports. ![]() The tool ensures that everybody spends how they're supposed to, and keeps errors to a minimum. No data entry for your finance team, and no need for complex expense policies. There's nothing to add, and no data entry needed.Įither immediately or at the end of the month, all processed claims are sent to the company's accounting tools, and the employee is reimbursed.Īll in all, it's a very straightforward system. The controller simply checks that the details look correct and match the receipt, and then can process it in a click. They can choose to approve it immediately, or wait until they have a batch. If approved, it's sent to the financial controller. Their manager is notified immediately and can approve (or deny) the new expense. They check the details and submit the claim. They take a photo of their receipt and attach it within the app (before it can get lost). A mobile app is best, because they'll always have it with them. They immediately log this expense in their automation tool. The employee spends their own money on a business expense. While this could come in many different shapes and sizes, good automation follows a classic structure: It replaces the paper or Excel claims that most employees know too well, typically with a spend management app that walks the user through each claim. What is expense automation?Įxpense automation lets you eliminate the most painful aspects of filing and processing expense reports. Let's try to make the best of a bad situation. When your team members find themselves paying with their own money, the last thing you want is to then make the experience worse with slow paperwork. No matter how hard you try, your team members will be in one of these situations from time to time. When a merchant doesn’t accept certain forms of payment or only takes cash If a team member loses or forgets their card When a particular employee doesn’t have access to a company card Which is the way it should be.īut of course, there are exceptions. If you’ve got prepaid and virtual cards, your employees should almost never have to make work payments with their own money. ![]()
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