There are very few people who like to hassle with filling out expense reports and dealing with expense management teams. While more and more businesses are moving toward automated expense report software, some companies are still out of touch with the times. If you’re looking for ways to convince your boss to automate expenses, look no further.
One of the best ways to convince your boss to automate expenses is to point out that it allows employees to be more productive. No more wasting time corralling receipts and making sure that every “i” is dotted and every “t” is crossed on the proper expense reimbursement form. Entering expenses through a system like Chrome River EXPENSE frees up valuable time.
Another way to convince your boss to automate expenses is to point out that expense management software is designed to ensure compliance with expense policy. For example, some companies have a strict limit on how much money is reimbursable per day. With expense management software, employees immediately know if they are approaching their limit and can adjust accordingly. At the same time, if employees try to input expenses that are not allowed, the software automatically prevents them.
Another of the benefits to using a system like Chrome River EXPENSE is the ability to accurately track all expenses incurred on business trips. Companies can see where every dollar goes and can make adjustments as needed. For example, if it is found that most of the employees are staying at a certain hotel, it might be beneficial for travel managers to work out an arrangement with the hotel chain.
Automated expenses also allow management personnel to immediately access information about travel and expenses, rather than having to wait for another team to provide that data. Too often, a request for information can take up to 24 hours to be processed, whereas using the automated expense software allows management to immediately receive the needed information.
There is also a tremendous cost reduction in automated expense reporting. Rather than having to go through individual forms and request documentation for every expense, payroll departments can simply access the software and retrieve the necessary information. These automated reports can also be useful when it’s time to prepare annual budgets and corporate tax returns. Having all of the information at your fingertips reduces time-consuming paperwork and headaches.
- 6 Reasons for Implementing an Expense Management System
- How Expense Automation Can Increase Manufacturers’ Profit Margins
- Reducing Employee Expense Fraud – Strategies and Tools for HR Leaders
- Capturing and Optimizing Your True Corporate Travel Program Spend Using Total Cost of Ownership
- Specialist Expense Vendors vs. ERP Suite Modules: Pros and Cons
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Wow! This Chrome River is great. Word has spread [in our firm] and people that were not invited to be in the pilot group rollout have asked to be included!