It is a given that employees who travel on business purposes have to be reimbursed. Almost every organization that reimburses its employees has some kind of policies, procedures, and tools to manage reimbursement. In this blog we’ll look at what organizations can gain from using an online business productivity tool, namely, expense reimbursement software.
Flexible approvals/approval flows: The software can be configured in such a way that only amounts crossing a certain threshold need to be approved. The approval flow can also be configured easily to meet the policy of the organization; it can be role-based with a single approver or with multiple approvers one after the other.
Up-to-date expense reports: With this software, employees can submit up-to-date, real-time reports from anywhere. Immediate notifications are sent to concerned approvers who can approve these reports for immediate payment.
Corporate card integration: Some companies have the policy of issuing corporate credit cards to employees who are encouraged to use these cards rather than paying with cash. All major cards can be integrated with the software, eliminating the need for redundant data entries.
Accurate Reporting: Reimbursements are very tricky to get right always. There is always the chance that some line items are wrong due to incorrect data entries. In such cases, instead of rejecting the whole report for a few line items, managers/approvers can reject the offending line items and send the report back to the employee for corrections.
Fraud detection: Expense fraud is neither uncommon nor unheard of. The software examines all entries to search for possible discrepancies or duplicates. The results will be made available to both the user and the approver.
Reporting and analytics: Are employees following company policies? Are expenses under check? Which employee has a tendency to overspend and who has a tendency to under-spend?
This software comes with integrated analytics tools which help you find answers to all these questions.
So what are you waiting for? Deploy expense reimbursement software today!
For more information about the product, please visit SutiExpense. Click here to Download the Product Sheet.
Find the best guide to understand - what is Expense report software?
Flexible approvals/approval flows: The software can be configured in such a way that only amounts crossing a certain threshold need to be approved. The approval flow can also be configured easily to meet the policy of the organization; it can be role-based with a single approver or with multiple approvers one after the other.
Up-to-date expense reports: With this software, employees can submit up-to-date, real-time reports from anywhere. Immediate notifications are sent to concerned approvers who can approve these reports for immediate payment.
Corporate card integration: Some companies have the policy of issuing corporate credit cards to employees who are encouraged to use these cards rather than paying with cash. All major cards can be integrated with the software, eliminating the need for redundant data entries.
Accurate Reporting: Reimbursements are very tricky to get right always. There is always the chance that some line items are wrong due to incorrect data entries. In such cases, instead of rejecting the whole report for a few line items, managers/approvers can reject the offending line items and send the report back to the employee for corrections.
Fraud detection: Expense fraud is neither uncommon nor unheard of. The software examines all entries to search for possible discrepancies or duplicates. The results will be made available to both the user and the approver.
Reporting and analytics: Are employees following company policies? Are expenses under check? Which employee has a tendency to overspend and who has a tendency to under-spend?
This software comes with integrated analytics tools which help you find answers to all these questions.
So what are you waiting for? Deploy expense reimbursement software today!
For more information about the product, please visit SutiExpense. Click here to Download the Product Sheet.
Find the best guide to understand - what is Expense report software?