The current economic condition forces management and finance departments to ensure that employees are not being overly enthusiastic in spending company money. One way to restrict unnecessary expenditure is to ensure that accurate and detailed records are kept. These records will help in future audits and investigations.
Expense Report Software has a few interesting facts and benefits for your organizations. An interesting insight is that this software allows excluding spreadsheets and manages the expenditure made by employees on business trips in the most efficient way. These are the major benefits of using this application:
Scan expense receipts online:
The software makes expense receipt management easy as employees can upload expense receipts from smartphone or any device from any where. They can also send it via email after capturing image of the same using a webcam. It also allows employees to email receipts to a designated email Id. Comments can also be added to receipts and they can be attached to expense report or an individual line item depending on how the solution has been configured for the organization.
Auto receipts to expense:
This solution uses data extraction technology which scans data and extracts it directly into expense reports.
Currency conversion:
This expense software allows currency conversion automatically as it pulls exchange rates based on the date of expense and currency selection. The user can override the exchange rate if required.
Corporate card integration:
The software is integrated with the major corporate card providers like Visa, Master Credit and Debit Card and AMEX. Now users can check their credit card transactions. They have to select the expense report and transactions they would like to add. The transactions and details will be added as line items to the expense report automatically removing the manual system.
Mobile access:
Users can now access their expense report while traveling, by using a mobile app. They can create and submit reports through icon driven menus and screens. This application allows attaching receipts, viewing company policies, and more.
Email notification:
This software has an in-built email notification system that notifies users on submission of report and approval of it. Email notifications can be enabled for other actions within the system.
Expense reports can be submitted conveniently from travel itineraries. Corporate credit cards can be dragged-and-dropped to the online report system to create line items. Users can also use their smart phones to attach receipts and access their expense reports.