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Turn Painful Expense Reporting Into Smart Expense Reporting

Kim Anselmo - Thursday, February 05, 2015

Getting your employees to fill out expense reports promptly and properly is no easy task. Expense reporting is often time-consuming for the employee as well as for the human resources and payroll departments. Expenses need validating against receipts and corporate policy before they can be used for financial reporting. Make expense reporting less painful and smarter for your business by embracing new technology.

Businesses aren’t stuck with inefficient spreadsheets or paper forms for expense reporting. Download “How to Secure Buy In for Smarter Expense Reporting,” a short eBook from Concur, to see how the right technology can streamline expense reporting and provide greater visibility into employee spending. As discussed in this eBook, you can deploy a cloud-based solution that offers mobile apps for your traveling employees. Your employees can submit receipts as they incur expenses when away from the office, eliminating the hassle of submitting paper reports stapled to faded or smudged receipts. The freedom from hanging onto receipts and filling out paperwork when they get back to the office can improve productivity for your traveling employees, giving them more time to spend with customers, manage projects, or make sales.

At the same time your traveling employee is submitting mobile expense reports, your managers can monitor budgets, your financial department can track spending and payments to credit card providers or other vendors, and payroll can be prepared to reimburse employees quickly and accurately. As you monitor travel-related expenses, you may identify trends. For example, you may find that employees use the same hotel chain or car rental agency. You can then negotiate better rates with these vendors and reduce these common costs. In addition, by setting limits on which hotels or other vendors can be used during travel, as well as set budgetary restrictions, you can protect your business from fraud and spending abuse.

Replacing inadequate, manual expense reporting with a cloud-based, smarter expense reporting process can improve productivity with your traveling employees, managers, and others. In addition to saving time, you can also save money with vendors and with the processing of expense reports. Download “How to Secure Buy In for Smarter Expense Reporting,” and contact The Resource Group to learn how you can turn painful expense reporting into smart expense reporting by implementing smart technology.


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