Know How Companies Are Refining Their Expenses with Expense Management System

Effectiveness. Elegance. These are all hallmarks of the best of anything. No unnecessary frills to distract from effective performance of the task at hand; no wasted features adding nothing to the straightforward nature of a job well done.

These are the hallmarks of an expense management system with the power to provide a bespoke business tool for the small to medium enterprises which make up the backbone of any nation’s economy.

These are the businesses which can turn the fortunes of those economies, but it’s on the detail of their day-to-day operations that the success of each business, and eventually each economy, is built.
Whilst the devil is in the detail, so is the angel. Pressures faced by small firms make revenue generation tough, and demand constant attention. And that’s why employee expense management software is a vital ally.

The tasks performed by every business fall broadly into two areas – those which generate revenue, and those which don’t, but are nevertheless important to keep the business running. It’s important to minimise time spent on the latter to maximise time available for the former.

The expense management system chosen by a company falls into the latter category. To keep time spent on it to an absolute minimum, whilst still doing the job effectively, the 21st-century solution is to use small business expense management software.

The best expense manager app will put complete control in the hands of the company and its employees by having the ‘devil in the detail’ completed in the background. All the user has to do is input the detail and make a claim. With the ability to ‘read’ a receipt, and record value, date, and payee, it will complete the filing and integration of the spend in the company accounts. And that leaves the employee with the task of making claim and submitting it for approval.

As part of the service it’s possible to eliminate fraudulent claims on such matters as mileage claims by having the system incorporate a GPS function, so the distance travelled can be recorded automatically.

What is also eliminated is unnecessary repetitious data entry, which is not only an opportunity for errors to creep in, but also a completely unnecessary cost. A carefully-selected expense manager app will link the spend at one end of the line, through expense claim and approval, allocation of cost, and recording in the company accounts. Employee expense management software could hardly be simpler or more elegant than that…

Comments

Post a Comment

Popular posts from this blog

Business Should Use Travel Expense Management Software

Image
Why do business travellers always look jaded? Is it that they’ve not slept in the same bed for more than one night this week, that they’ve changed their time zones more often than their socks, or that they dread filling in expense claims when they get back? If travel for business is a must, there’s not much online expense management software can do about the first two – but it’s a different story when it comes to the third. That’s because if there’s one thing top expense management software can do really well, it’s to allow expenses to be claimed on the go, filling in the dreary waits in airport lounges, reception areas, or interminable hotel room evenings. With access to Wifi and employee expenses software like Solo Expenses installed on a smartphone, it’s possible to claim back a spend more quickly than it takes to spend the money in the first place. Yes Bank meets Solo Expenses to create the best expense manager app And the process has just got quicker thanks to a coll
Read more

A Digital Expense Management Solution Always Helps Small Businesses

Image
Successful small businesses are like Olympic athletes – there’s no room for anything that doesn’t enhance performance. That’s why every SME should have a digital expense management solution at its fingertips. Being successful as a small business is about using resources in the most effective way possible. Right at the top of the list of those vital resources is time. And that’s what any SME is wasting if it’s not using cloud-based expense management software. Top expense management software are the best way to manage employee expenses for the 21st century, because digitization rolls up a number of tasks in one simple action. When an employee spends money on the company’s behalf a simple click captures a picture of the receipt. From that point onwards it’s in the system to support an expense claim, assist approval, and filed to support whatever tax claim needs to be made at some point in the future. Because it’s there, along with all the others associated with a claim, approval and
Read more

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

Image
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 supplie
Read more