Automate Your Approval Cycle Times
A recent ExpenseWire study revealed that 50 percent of businesses manually process their expenses.
Manually processing employee expenses takes time and leaves your company vulnerable to errors. Streamline your reporting and approval cycle time with an automated system.
An automated expense management system helps simplify your reporting process so your employees are able to save time submitting their reports and managers can streamline their expense approvals.
Your employee can submit a report simply by importing their credit card data or uploading a receipt. All expenses can be submitted from their mobile phone while they are in transit so expenses are reported as they are incurred.
An employee can be reimbursed by direct deposit, which helps reduce the reimbursement timeframe.
A manager can review and/or approve expenses as they are reported. If there is a questionable expense, the manager can view the receipt that is attached to the report. If they're in transit, they are able to approve or review from any mobile device as well.
Additional features that managers may have access to are:
- Manage approval cycles online
- Receive email notification of approval requests and updates on expense report status
- Automate approval workflow
- Approve multiple reports with one click
- Approve with line-item exceptions
- Assign substitute/vacation approvers
- Support a multiple approver hierarchy
- Support unlimited levels of organizational structure
- Support batch and dynamic approvals
- Route approvals to non-standard approvers
With an automated reimbursement cycle and excellent exporting features, employees are paid accurately and within an appropriate timeframe.
To compare a manual expense management process to a streamlined automated process, check out this quick comparison sheet.