Managing expenses manually is a headache for you and your business travellers. A business expense app will help rid you of the frustration, wasted resources, errors and lack of clarity that persist when companies fail to automate the processes related to one of their largest cost drivers: travel expenses. Discover seven benefits of a mobile application for business expenses.
1. Submit expenses on the go
Do your travelling employees have to gather the receipts from their business trips and wait until returning to the office to submit them? Errors might stem from your employees being tired from previous trips or in a hurry to finish more important tasks. Instead of waiting until the last minute to enter their expenses, your employees can use a mobile app that lets them capture expenses on the go.
2. Less time spent creating expenses
Your employees no longer need to wait until they arrive home or at the office to submit a pile of receipts and finalise their expense report. With the help of a business expense app created for your travelling employees, all they will have to do is to take photos of their receipts and the app will do the rest.
3. No more lost or damaged receipts
When your employees travel for business, they focus on their main goal and use their energy wisely in order to get the most out of their trip. Also, being in a new town or a foreign country can be overwhelming for some of your employees. The risk of losing or damaging receipts they need to submit is quite high. However, you still want to reimburse the money they will have used from their own pocket, so scanning the receipts in real time via a dedicated travel expense app is the best thing you can offer your travelling employees.
4. Eliminate human errors
When you manage your company's travel expenses manually, typos and other human errors are inevitable in expense claims. With a business expense app, your employees' receipts are scanned and digitised flawlessly. This way, you eliminate human error and, worse, fraudulent practices, and you ensure that cash leakage will not happen again when it comes to the claims submitted for reimbursement.
5. Automatically reconcile card transactions
When payments are made via a corporate credit card, your company can reimburse business travellers much faster with automated business expense management tools. They allow you to skip the manual processing and financial controllers and auditors will no longer need to check every single report as everything is automatically reconciled with the help of your business expense app.
6. Go from paper to digital records
Corporate travellers who use a business expense app do not have to worry about manually creating and submitting their reports. As they are taking pictures of their receipts, the app creates a digital copy of the photographed expenses and each expense is added into the traveller's account. All your employees have to do is to submit this digital report and your company will be able to reimburse them promptly.
7. Enforce your corporate travel policy
When you choose a business expense app, you can integrate your corporate travel policy to increase compliance among business travellers. Realistically, controllers and travellers will never memorise your travel policy and could forget some of the rules or principles your company has when it comes to travel expenses, but an app will always flag mistakes, fraud and non-compliant claims.
We bet most of your employees use a smartphone and have several applications that make their personal and work life easier, so getting a business expense app will only increase their satisfaction during business trips with a seamless mobile experience. You simply need to find the right app for your needs and make sure your employees understand the positive impact and benefits of your new automated solution.
