Ask anyone what they love about their job, and you’ll usually get one of these answers: the culture, the pay, the benefits, etc. Very rarely, if ever, will anyone tell you they love filling out expense reports.
It’s not hard to see why. The traditional way of filling out expense reports is slow, cumbersome, and prone to fraud. It’s no wonder that people sometimes don’t bother to claim expenses. The process is just too much of a pain.
But it doesn’t have to be that way. In fact, there’s no excuse for it.
ExpenseAnywhere takes an inefficient, error-filled process and makes it user-friendly, efficient, and flawless. Here’s how.
In manual accounts payable processes, an expense report has to go through several levels of approval before it reaches the accounting department, who reimburses the employee. The employee must fill out a mountain of paperwork by hand and keep track of all their receipts. All these moving parts must pass through several approvers, all of whom must enter the data manually.
When all is said and done, the numbers are shocking. A study in the United Kingdom revealed that 63 percent of businesses had received duplicate invoices, and 23 percent of businesses had lost suppliers over issues with accounts payable. Manual expense reporting may be the way most businesses function, but that doesn’t mean it’s the best way.
With ExpenseAnywhere, employees can upload their receipts via scan/fax/email to the receipt store. OCR technology automatically matches the card charges and the receipts, generating an error-free expense report in just a few seconds. All the employee has to do is click “Submit,” and the report is on its way.
And the results speak for themselves. Companies using ExpenseAnywhere reduced processing costs by 70 percent, improved on-time payments by 75 percent, and reduced process cycle times by 80 percent. We all struggle with making New Year’s resolutions. Why not resolve to cut costs, pursue your goals, and lead your business into the future?
Visit us at https://www.expenseanywhere.com/ or call us at 412-858-1111 to learn more.