If your mobile workforce uses iPhones or Android-based smartphones, you're in luck since most SaaS products do have apps for these platforms. A solution that's confusing, difficult to use, or worse, buggy in its integration with your back-end systems will make employees avoid using it, which is exactly what can kill an effective expense tracking solution. It's important to minimize employee learning curves so they will be up to speed on the new product with minimal brain drain and collateral costs.
Add this to your must-have business intelligence (BI) data. Next, take a look at the back-end technology your company is using, especially its accounting software. Use this information to create loose policies and rules based on location, company averages, and what you deem appropriate.
This may sound like overkill but it will come into play if you need a multi-tiered approval feature. Create an organizational map including the reporting/supervisory structure. What are those average expenses? Are they reasonable or do you think individuals are taking advantage? Look beyond the averages since a tool that suits a sales team on the road may not be ideal for the remote employees who visit the home office every quarter. Is it based in the United States? Does it do international business? What kinds of expenses are typically initiated by the workforce? A good place to begin is with a thorough audit of how many employees in your company submit expenses for reimbursement, including travel, business meals, and even office supplies. Find the Right Expense Tracking Softwareīefore you can choose SaaS expense tracking software, you have to examine your organization in some detail. Let's look at the top solutions we've tested.
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The best news for businesses is that cloud-based expense tracking software generally costs less while offering more innovation than on-site legacy hardware/software-based solutions. It is possible to use mobile apps and smartphones to scan and photograph receipts, and there are increasingly quick and easy methods for organizing and submitting expense reports online. Thanks to cloud-based solutions that are capable of handling expense tracking and reporting, controlling employee business expenses are getting easier and less tedious. Same goes for creating accurate and easy-to-read reports, veryifing and approving reports, and then adding results to issue a check. Being able to streamline and improve the process of collecting and organizing receipts and invoices is a constant challenge. Read our editorial mission (Opens in a new window) & see how we test (Opens in a new window).Įfficient expense tracking and reporting is an objective of businesses of all sizes. Since 1982, PCMag has tested and rated thousands of products to help you make better buying decisions.
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