All finance teams will have experience with spreadsheets.
Over the years they have become a large part of many processes, and their
functionality is vast. Some companies will have a spreadsheet that does
everything, whilst others will rely on many.
However, spreadsheets also come with their problems.
Maybe you have experienced some of these?
When different people are working on a single
spreadsheet, it can be difficult to keep track of the most up to date version
Spreadsheets take up a lot of time – many
business directors and managers will spend hours, days, weeks and even months,
updating spreadsheets. Inputting data, changing formula to meet the demands of
a growing business, and matching up data can be very laborious
There is far too much room for error – one wrong
cell value, or formula can lead to a stream of incorrect figures, and again,
more time needed to check over everything
The functionality can be overwhelming
Although spreadsheets have their place, in terms of expense
management, there is a more user-friendly solution available which can solve
the problems they can create.
MyExpensesOnline have for many years
now, been providing an alternative solution to assist businesses with the
expenses. Have a look at some of the benefits of using software for your
expenses, instead of spreadsheets:
Processing time is
The entire process is handled, from the employee
claiming, to the checks and authorisation required, to the payment being made. A
claim can be started by an employee from anywhere in the world and can be
completed in a matter of minutes. Authorisation is a simple task and once the
claim is ready; batch payment files can be created to export into your
Reduce the risk of
Your software will contain inbuilt policy rules (set by
you). If the claimant has broken one of these rules, they are required to
change the claim before they can submit. Mileage is tracked accurately using
VAT is calculated automatically, making sure you are
Automating your expenses is crucial to eliminate the
problems caused by a manual process. Contact our team to find out how MyExpensesOnline can help you.