Many start-ups begin filing their expenses manually on a spreadsheet each month. It’s quite a simple process when you have 1-5 employees on a relatively simple expense run.
However, as your business grows, the likelihood of your staff increasingly their travel mileage increases and things become a little more complicated.
Spreadsheets quickly become lost in the post, receipts can easily find their way in the washing machine and before you know it, a substantial amount of money is lost through the odd minor mistake soon adding up.
If you have a busy office and more than 10 members of staff claiming expenses, then cracks in the manual system soon start to appear.
Expenses software was built to stop the frustration for everyone as it quickly streamlines the expense process. It automatically sends the expense claim and the scanned receipt to the approver online and it can be accessed from anywhere in the world, so you don’t have to wait to get back in the office and plough through your paperwork.
Using an expenses software system avoids the time spent by admin, chasing claims, receipts or credit card statements, as one gentle nudge with the on-line system can quickly remind the recipient that they have an outstanding action to take. No longer do you need to call the office or track down your manager to sign off your claim.
The finance team also benefits as they have a powerful set of reports they can use, without having to re-type data from a spreadsheet and what’s even better is that all the information they receive will have already been tested for internal and external compliance.