Why You Can Throw Away Receipts Thanks To Travel Expense Management Software

Just how much paper does a business trip actually need? Undoubtedly too much, we’d say, which is why at Solo Expenses we’ve developed our expense management software to take away the pain of keeping track of the paper without which a business trip can go awry.

Lose a passport, and the business trip comes to an end, right there. Same goes for a boarding pass, or a car park ticket. That’s why the sensible business traveller keeps those important documents in a safe place.

The receipts gathered for later expense claims need to be kept safe too, but all of a sudden we’re accruing unnecessarily large amounts of paper – so for the last group, Solo Expenses advocates throwing them away, because there’s a much better way.

Out travel expense management software allows receipts to be discarded with a clear conscience, because we have developed the technology not only to photograph them to create a permanent record, but also the ability to read the date, amount involved, and even the supplier to make record-keeping as simple as possible. Once a record is made, the paper receipt becomes redundant.

And because record keeping is simple, so is making and reimbursing the expenses claim when the time comes, and filing that data away in the company’s financial records.

Solo Expenses can also convert one currency to another, removing the tedious task of conversion, so that expenses can be claimed and paid in the home country’s currency.

Linking it to a company credit card avoids the hassle of and confusion of mixing company and personal money, further distancing the need for employees to be out of pocket on the company’s behalf.

The power of the software can be accessed anywhere in the world there’s a WiFi signal, so hotel rooms and airport lounges are ideal locations, and claiming expenses is a useful task to complete in otherwise ‘dead’ time. The WiFi connectivity speeds the whole process too, because ‘no paper’ means ‘no need to be in the same building’ – which would have been the case in a more traditional scenario.

Other advantages of managing travel expenses in this way is that the collected data can be assembled into reports for later interrogation, to establish if there’s a cheaper way of accomplishing a particular task, or to allocate certain expenses to discrete cost centres, projects, departments, or divisions. All of that brings greater rigour to financial management, at the same time reducing the time involved in doing it. More accurate and faster? Every business could always use a little of both of those!

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