Did you know that the inability to track company expenditures, has become one of the major issues resulting in companies losing a hefty amount of money each year? There is a huge gap between what companies think they spend on business expenses and what they actually spend. This gap is essentially because of inefficient processes. Track of these business expenses becomes extremely difficult since they are not recorded in the organisation system properly, which often results in fraudulent practices within the company.
As employees are incurring business expenses in more than one way, it has become imperative for companies to re-think its business strategy to thrive in these changing times.
Welcome to the idea of Expense Management Software.
The motto of the expense management software is to leverage analytical capabilities and visibility that can help companies drive efficiency, forecast and plan better for corporate finances. It eases the process of creation, submission, approval, and processing of expense reports. It tracks duplicate receipts, eases the procedure of claiming tax with appropriate receipts, and completely automates the task of manually maintaining spreadsheets related to expenses.
Expense management software allows companies to control spending by automating policy enforcement so that the non-compliant expenses can immediately flagged to employees when they're submitted and expenses that require extra attention can be highlighted for immediate management review. AI-powered and automated systems will ensure transparent, error-free processing.
On a global scale the companies that adopted expense management software saved up to 39000$ and 40% of the employee’s productive time.Join the 21st century digital revolution and make your company a winner.
Thinking to roll out an Expense Management Platform?
Zaggle will help you plan your Expense Management Platform deployment and ensure a successful implementation and experience.
If you’re upgrading from a Manual Expense Management Solution to a fully automated system SaaS based System, then you’re at a right place.
An easy to use platform makes your work easier and increase your productive hours at work. Let’s look at our top tips:
Make sure all the information about employees data, approval flows, credit card information, reimbursement policies, mileage rules etc are available at your desk.
Mapping out the processes will help you communicate company’s policies clearly to your employees thereby increasing the chances of a stress-free implementation of the new system.
With a digital expense solution, the actions required by employees is just submitting all business expenses. No need for extensive training or learning sessions
Make people download the app and try it. This way you can make sure that you answer all first questions and that the first experience with the app won’t be frustrating - especially for less tech savvy employees.
Now pave the way for a best in class Expense Management Platform- Zaggle Save.