Pre-trip, post-trip, and everything in between with expense report software
Expense management is a long process which involves multiple phases. There needs to be efficient management of the process pre-trip and post trip. Expense report software helps with all the phases and ensures that you can run the process efficiently and comprehensively.
In the pre-trip phase, the software will help with gaining approvals. This will ensure that the business unit has control over spending and that employees don’t go out of policy in reporting. Since the data is already entered, it saves time in reporting after the trip.
Employees can report expenses via mobile devices, which means that expenses are reported in real-time easily. Receipts can also be immediately digitized and saved in the centralized location for analysis.
Effective policy enforcement is another hallmark of the software. It helps implement checks and validations so that out of policy expenses get caught immediately. And all this can happen in real-time to ensure that faulty expenses are caught immediately.
The software also brings automation into expense management. From filling expense reports to analysis and verification, anything can be automated with expense software. Employees can spend more time on more important tasks if they use the software to manage expenses.
There is the choice for organizations – they can deploy a web-based solution or a hosted solution. There are advantages and disadvantages to both, but if costs are the main concern, then the SaaS solution is the way to go. That way, they don’t have to fork out money for hosting and maintenance.
To reiterate, all the phases in expense management can be efficiently manged with online expense report software. It has multiple features that allow all the stakeholders in the process to manage all their tasks effectively.