Reasons to switch to travel expense reporting software include ending the analysis and printing of countless expense reports. Automated programs tend to eliminate most human error, as well as the need for manual processes. Programs will free up employee time, allowing them to focus on tasks closer to the revenue line.
An automated program will help companies to analyze their expenditures. For example, if a customer is being heavily courted by a company, the a program will let management know whether or not the expenditure is generating a profit. The program will also analyze employee expenditures, letting managers know about top people who use cash, top overall spenders, and top expenditure categories.
Paper receipts place unnecessary burden on accounting departments. Most employees use a credit card, and the credit card statement provides the same purchase documentation that as a paper receipt. Additional paperwork, therefore, is not needed. Also, accountants will not have to constantly analyze expenses; instead, the program will alert staff to unusual spending patterns.
Companies always change their entertainment and travel policies. For instance, companies may decide to permit some expenditures, and forbid others, or may choose different approved vendors. With some programs, companies can post changes to policy, for employees to view and sign of on when they log into the system.
After automating, companies should review old procedures. All procedures should be considered, not just the policies regarding paperwork. For example, companies should ask themselves if multiple layers of management are needed to approve expenses, or whether a member of upper management really needs to approve every expenditure.
Overall, transitioning to travel expense reporting software will save time and money for companies. The analysis tools will identify big spenders, so that companies will readily curb overspending by overzealous employees. Also, by eliminating a mountain of paperwork, businesses will allow their employees to focus on making money.
An automated program will help companies to analyze their expenditures. For example, if a customer is being heavily courted by a company, the a program will let management know whether or not the expenditure is generating a profit. The program will also analyze employee expenditures, letting managers know about top people who use cash, top overall spenders, and top expenditure categories.
Paper receipts place unnecessary burden on accounting departments. Most employees use a credit card, and the credit card statement provides the same purchase documentation that as a paper receipt. Additional paperwork, therefore, is not needed. Also, accountants will not have to constantly analyze expenses; instead, the program will alert staff to unusual spending patterns.
Companies always change their entertainment and travel policies. For instance, companies may decide to permit some expenditures, and forbid others, or may choose different approved vendors. With some programs, companies can post changes to policy, for employees to view and sign of on when they log into the system.
After automating, companies should review old procedures. All procedures should be considered, not just the policies regarding paperwork. For example, companies should ask themselves if multiple layers of management are needed to approve expenses, or whether a member of upper management really needs to approve every expenditure.
Overall, transitioning to travel expense reporting software will save time and money for companies. The analysis tools will identify big spenders, so that companies will readily curb overspending by overzealous employees. Also, by eliminating a mountain of paperwork, businesses will allow their employees to focus on making money.
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