Expenses apps are great! They suit the entire business from the sales department, who let’s face it are always on their smart phones and constantly loosing receipts, to the HR department who have to listen to accounts clerks and sales reps’ disputes over said matters. Who wouldn’t be happy with uploading a receipt image in under 20 seconds each time?
But the real winners are the accounts payable team, who not only benefit from getting correct expense forms filled out and the corresponding receipts, but they have a desk free of paper!
Here are 5 reasons why your Accounts Payable team need an app to make managing employee expenses simple.
- More claims are submitted on time
Because it is made easier from a claimant perspective to submit their receipts quickly. Which means less time chasing late claims, employees can be reimbursed promptly allowing the AP team to gain more control over cash flow.
- Claims are submitted with ALL the relevant information
Expense apps can be pre-programmed with settings and categories that are relevant to your business, such as expense types, mileage costs etc. Employees don’t have to memorise your company’s Expenses Policy in order to fill in a claim, which means the AP team aren’t receiving claims with lots of information missing resulting in more work for them.
- Increased Accuracy
The software automatically detects duplicate or fraudulent claims so that the AP team only reimburse genuine claims, saving money and rejecting rogue claims.
- On-the-go Expense Management
Most Expense app and software are cloud based, which means not only can employees capture receipts on-the-go, the AP team, approvers and Managers, can also check, approve or reject claims when they are out of the office too. Less delays means employees can be reimbursed faster.
- Easy integration with existing business systems?
Not all Expense Management software can be easily integrated with your existing business systems and this is an important consideration. If you choose software that integrates with your finance and Document Management systems, all information relating to a claim can be automatically imported and stored securely, ready to share with HMRC or the Finance Director, or simply easily accessible if any queries arise. This is great for the AP team as it means not only are expense claims digitised to start with, removing the need for manual data entry, they also don’t need to be entered or copied into another business system by hand, saving huge amounts of time.
Choosing the right Expense app and software for your business will simplify Expense Management for both your employees and your Accounts Payable team, saving everybody lots of time and frustration, saving money for your organisation, and allowing your AP team to focus on what they do best – getting the numbers to add up!
If you would like to find out more about the YourDMS Expense App and solution, contact Jack Wright on 01285 810606, email firstname.lastname@example.org or sign up and take part in a 2 month FREE trial and see first hand how your company can benefit.