How to Choose the Best Employee Expenses App for Your Business

Managing employee expenses can often feel like a never-ending hassle, bogged down by time-consuming processes and inevitable errors.  

That's where an employee expenses app comes in, offering a way to streamline these tasks and improve overall efficiency.

In this guide, we'll help you choose the best app to manage employee expenses for your business in 2024. 

Whether you’re running a small business or a large enterprise, finding the right expense app can make a significant difference. 

Why Your Business Needs an Employee Expenses App 

Managing employee expenses can be a time-consuming and error-prone task. An employee expenses app can transform this process into a streamlined, efficient operation.  

Here’s why your business needs an employee expenses app in 2024: 

Save Time & Boost Efficiency 

Using a business expense tracker app can save your business a lot of time. These apps automate many of the tedious tasks that come with expense management.

Employees can: 

• Snap a photo of their receipts with their phones. 

• Let the app extract important information using OCR (Optical Character Recognition). 

• Benefit from AI-driven categorisation, which automatically sorts expenses into the correct categories. 

This not only speeds up the process but also reduces the chance of errors. 

Improve Accuracy & Reduce Mistakes 

Manual expense reporting often leads to mistakes. An employee expenses app helps minimise these risks by automating data entry and categorisation.

This ensures: 

• Accurate and complete expense reports. 

• Reliable financial records for making informed decisions. 

Track Expenses in Real-Time 

With an app to manage expenses receipts, you can track expenses as they happen. This real-time visibility lets managers: 

• Monitor spending immediately. 

• Keep budgets on track. 

• Quickly spot any unusual or unauthorised expenses. 

Employees can also see their spending limits, helping them stay within budget. 

Ensure Policy Compliance 

Keeping all expenses in line with company expense policies can be tough. An employee expenses app can automatically enforce these policies by: 

• Flagging receipts that exceed allowed amounts. 

• Preventing policy violations. 

This helps maintain compliance and ensures everyone follows the rules. 

Simplify Reporting & Audits 

Generating reports and getting ready for audits is much easier with an employee expenses app.

These apps can: 

• Create detailed, customisable reports. 

• Provide insights into spending patterns and categories. 

• Organise expense data for quick access during audits. 

Boost Employee Satisfaction 

Using an employee expenses app can make your employees happier. The old way of submitting paper receipts and waiting for reimbursements can be frustrating.

An app makes this process easier by: 

• Simplifying expense submission. 

• Speeding up reimbursement times. 

This boosts morale and productivity, as employees spend less time worrying about their expenses and more time focusing on their work. 

10 Must-Have Features in an Employee Expenses App 

Choosing the right employee expenses app can make a big difference in how smoothly your business handles expenses.  

Here are the essential features you should look for to ensure the app meets your needs and boosts efficiency: 

1. Mobile Capabilities 

Your employees are on the go, and so should your expenses app.

Make sure the expense app has robust mobile capabilities, allowing employees to submit expenses and receipts from their smartphones.  

The app should be available on both iOS and Android platforms to ensure everyone in your company can use it. 

2. Receipt Scanning & Storage 

One of the most important features is the ability to scan and store receipts digitally.  

Look for an app that uses OCR technology to capture receipt details automatically. This means employees can simply take a photo of their receipts, and the app will extract and store all the necessary information.  

This feature saves time and ensures receipts are securely stored and easily retrievable. 

3. Policy Compliance Checks 

Ensuring that all expenses comply with company policies can be challenging.  

An employee expenses app should have built-in policy compliance checks that flag any expenses exceeding set limits or not adhering to guidelines.  

This feature helps enforce company policies and prevent unauthorised spending. 

4. Expense Categorisation 

Automatic expense categorisation helps keep everything organised. The app should categorise expenses based on predefined criteria such as:  

• Business travel

• Meals 

• Office supplies 

• And so on. 

It’s even better if the app uses AI-driven categorisation to automatically sort expenses accurately.

The ability to create custom categories specific to your business also makes it easier to track and analyse spending patterns, providing more insightful financial data. 

5. User-Friendly Interface 

A user-friendly interface is essential for encouraging widespread adoption. The app should be intuitive and easy to navigate, reducing the learning curve for employees.  

A well-designed interface makes it simple for users to submit and manage their expenses without frustration. 

6. Custom Workflows & Approvals 

To match your company’s processes, the app should allow you to set up custom workflows for expense approvals.

This feature ensures that expenses go through the proper channels before they are finalised.  

Approval notifications can streamline this process by alerting approvers when their input is needed, speeding up the entire workflow. 

7. Integration with Accounting Software 

For seamless financial management, the app should integrate with popular accounting software like QuickBooks, Xero, and Sage.  

This integration ensures that expense data is automatically synchronised with your accounting system, reducing the need for manual data entry and minimising human error. 

8. Real-Time Data Synchronisation 

Real-time data synchronisation keeps everyone on the same page. This feature ensures that expense data is updated across all devices instantly.  

Employees can submit expenses on the go, and managers can review and approve them in real time, improving transparency and decision-making. 

9. Customisable Reporting 

Customisable reporting tools allow you to generate detailed reports tailored to your business needs.  

Whether you need to analyse expenses by category, department, or employee, the app should provide the flexibility to create reports that offer valuable insights for budgeting and financial planning. 

10. Multi-Currency Support 

If your business operates internationally, multi-currency support is a must.  

The app should be able to handle expenses in various currencies and automatically convert them to your home currency based on current exchange rates.  

This feature is crucial for accurate financial reporting and effective management of international expenses. 

How to Evaluate the Best Employee Expenses App for Your Business 

Choosing the right employee expenses app is crucial for efficient expense management.  

Here’s a simple guide on how to evaluate the best app to manage expense receipts and meet your business needs: 

Step 1: Identify Business Needs for Expense Management 

Start by identifying the specific needs of your business. Consider the following: 

• Volume of expenses: How many expenses need to be processed monthly? 

• Types of expenses: What categories do these expenses fall into (e.g., travel, meals, office supplies)? 

• User base: How many employees will use the app, and what is their tech proficiency? 

• Integration requirements: Does the app need to integrate with existing accounting software like Netsuite or Sage? 

By clearly defining your requirements, you can narrow down the options and focus on apps that meet these specific needs. 

Step 2: Compare Features of Employee Expenses Apps 

Once you know your needs, compare the features of different employee expenses apps. Look for the features covered in the previous section.

Here’s a quick reference: 

• Mobile capabilities: Is there a mobile app for on-the-go expense reporting? 

• Receipt scanning & storage: Can the app scan and store receipts digitally using OCR technology? 

• Policy compliance checks: Does it enforce company policies and flag non-compliant expenses? 

• Expense categorisation: Does it automatically categorise expenses? 

• User-friendly interface: Is the interface intuitive and easy to use? 

• Custom workflows & approvals: Can you customise approval workflows to match your company’s processes? 

• Integration with accounting software: Does it seamlessly integrate with your existing accounting systems? 

• Real-time data synchronisation: Does it update expense data in real time across all devices? 

• Customisable reporting: Can you generate detailed and customised reports? 

• Multi-currency support: Is it capable of handling expenses in multiple currencies? 

Step 3: Read User Reviews & Ratings for Expense Apps 

User reviews and ratings can provide valuable insights into the performance and reliability of the app.

Look for feedback on: 

• Ease of use: Is the app user-friendly and easy to navigate? 

• Customer support: How responsive and helpful is the support team? 

• Reliability: Does the app have any recurring issues or bugs? 

• Overall satisfaction: Are users generally happy with the app? 

Step 4: Analyse the Cost vs. Benefits of Expense Management Apps 

Evaluate the cost of the app against the benefits it provides. Consider: 

• Subscription costs: What is the monthly or annual cost of the app? 

• Implementation costs: Are there any additional costs for setup or training? 

• Time savings: How much time will the app save in processing expenses? 

• Error reduction: How much will it reduce errors and improve accuracy? 

• Compliance & control: How well does it enforce policy compliance and control spending? 

A thorough cost-benefit analysis will help you determine if the app provides good value for its price. 

Step 5: Book a Demo of Expense Management Apps 

Before making a final decision, book demos of the top expense management software on your list. During the demo: 

• Ask questions: Clarify any doubts about features, integrations, and support. 

• Test key features: Ensure the app’s key features work as expected and meet your needs. 

• Evaluate user experience: Assess how easy and intuitive the app is to use. 

Demos provide hands-on experience, allowing you to see how the app performs in real-world scenarios. 

ExpenseIn: The Top Employee Expenses App for 2024 

When it comes to managing employee expenses efficiently, ExpenseIn stands out as the top employee expenses app for 2024.  

This all-in-one solution simplifies every aspect of expense management, making it easier for businesses to handle expense reports, approvals, and reimbursements. 

Key Features 

• Automated expense claims: ExpenseIn automates the entire expense claim process. Employees can submit, approve, and get reimbursements quickly, significantly reducing manual effort and speeding up workflows. 

• Mobile app: Allows employees to submit expenses on the go, scan receipts in real-time, and track business expenses directly from their smartphones, available on both iOS and Android. 

• Real-time receipt scanning: With advanced OCR and AI technology, ExpenseIn captures and categorises receipt data instantly, making record-keeping and reporting easy. 

• Automatic mileage & carbon emission calculations: Integrating with Google Maps, the app simplifies mileage tracking and offers carbon emission reporting, which is perfect for sustainable businesses. 

• Customisable approval workflows: Tailor approval processes to fit your organisation’s needs, ensuring efficient and accurate expense oversight. 

• Integrated policy enforcement: ExpenseIn automatically checks each expense submission against company policies, flagging any discrepancies to ensure compliance. 

• Real-time reporting & analytics: Get detailed insights into spending patterns, helping you make informed financial decisions and optimise budgets. 

• Seamless software integration: Syncs easily with popular ERP and accounting systems like QuickBooks, Xero, and Sage. 

• HMRC compliant & secure UK data storage: Ensures adherence to tax regulations and provides robust data security with UK-based data storage. 

ExpenseIn offers flexible plans that charge only for active users each month, making it an economical choice for businesses of all sizes. 

How to Implement an Employee Expenses App Successfully 

Step 1: Develop an Implementation Plan 

A well-thought-out plan is essential for smooth integration. Outline the steps and timelines for the implementation process. 

• Create a timeline: Establish key phases, including data migration, training, testing, and full deployment. 

• Define roles & responsibilities: Assign specific tasks to team members, such as data migration, training, and system setup, to ensure accountability and smooth progress. 

Pro Tip: Regularly update all stakeholders and hold meetings to address any issues promptly and keep everyone on the same page. 

Step 2: Organise & Prepare Data 

Organised and clean data is crucial for a successful transition. 

• Gather expense records: Collect all current expense records and receipts to ensure you have all necessary documentation ready for migration. 

• Clean your data: Verify and validate the data to avoid issues during migration. Remove duplicates and outdated information. 

Pro Tip: Maintaining clean data helps ensure accuracy and integrity during and after the migration process. 

Step 3: Customise & Configure the Expense App 

Tailoring the app to fit your business needs will maximise its effectiveness. 

• Set custom policies: Configure the expense app to enforce your company’s expense policies and match your organisational requirements. 

• Integrate systems: Connect the expense app with your existing accounting, HR, and ERP systems for seamless data flow and improved efficiency. 

Pro Tip: Test the setup thoroughly and run pilot tests to identify and fix any issues before full deployment. 

Step 4: Educate & Train Your Team 

Effective training is key to ensuring that all users are comfortable with the new app. 

• Conduct training sessions: Organise comprehensive training sessions with hands-on demonstrations and Q&A. 

• Provide support materials: Develop user guides, FAQs, and video tutorials for ongoing support, and offer live chat support for immediate help. ExpenseIn has an extensive resource library with guides and live chat support for any immediate questions. 

Pro Tip: Regular refresher training and continuous support can help maintain proficiency, especially when new features are introduced. 

Step 5: Launch the Expense App 

The go-live phase is the final step in transitioning to the new system. 

• Deploy to all users: Roll out the app across the entire organisation to ensure everyone starts using it simultaneously. 

• Monitor initial usage: Track how the app is used initially and gather feedback to address any issues promptly. 

Pro Tip: Keep communication open during the rollout to refine processes and ensure a smooth transition. 

Step 6: Continuously Monitor & Improve 

Ongoing monitoring and optimisation ensure the app remains effective and beneficial. 

• Collect feedback: Regularly gather user feedback to identify areas for improvement. 

• Optimise processes: Use the insights to make necessary adjustments and improve efficiency continuously. 

Pro Tip: Schedule regular check-ins to ensure the app continues to meet your business needs and remains efficient. 

Real-Life Success Stories & Testimonials for Expense Apps 

Implementing an employee expenses app can significantly improve efficiency and accuracy in expense management. 

Here are some real-life success stories and testimonials from businesses that have benefited from using ExpenseIn. 

Habitech Limited: Saving Time & Reducing Errors 

Habitech Limited, a leading distributor of specialised AV, lighting, and network systems, faced challenges managing expenses with spreadsheets. Their process was time-consuming, error-prone, and often led to misplaced receipts and added costs. 

Challenges: 

• Manual updates and advanced formula knowledge are required for spreadsheets. 

• The time-consuming process of sending, scanning, and emailing receipts. 

• Errors and missing receipts lead to difficulties in reclaiming VAT. 

Solution:  

Habitech Limited adopted ExpenseIn for its reliable system that allows users to take pictures of receipts and upload them through an app for approval by managers and the finance team.

The app's pricing model, which only charges for users who submit claims, was also a key factor. 

Results: 

• Significant time savings with automated processes. 

• Reduced errors and streamlined approvals. 

• Seamless integration with NetSuite, eliminating manual processing. 

• Positive user feedback and professional support during implementation. 

Testimonial:  

W Denis Insurance Brokers: Cutting Paperwork & Streamlining Invoicing 

W Denis Insurance Brokers, an independent insurance broker, struggled with a paper-heavy invoicing process that involved scanning documents, using spreadsheets, and manual entry into Sage. This led to delays and inconsistencies in payments. 

Challenges: 

• Extensive paper scanning and manual data entry. 

• Difficulty in maintaining a consistent payment schedule. 

Solution:  

They chose ExpenseIn for its intuitive features, mobile app capabilities, and ability to digitise and streamline their workflow. 

Results: 

• Drastic reduction in paperwork. 

• Elimination of manual data entry into Sage. 

• Consistent and efficient weekly payment process. 

• Automated tasks integrated into one efficient workflow. 

Testimonial:  

Benefits Experienced with ExpenseIn 

• Time savings: Automated processes save significant time on expense and invoice management. 

• Error reduction: Reduced errors with real-time receipt scanning and automated policy enforcement. 

• User satisfaction: Positive feedback from users who find the system quick, easy, and efficient. 

• Seamless integration: Smooth integration with existing systems like NetSuite and Sage. 

• Cost-effectiveness: A pricing model based on active users ensures cost-efficiency. 

These testimonials highlight how ExpenseIn helps businesses improve their expense management processes by saving time, reducing errors, and enhancing overall efficiency.  

Discover how ExpenseIn can streamline your expense management and save you time and money. Book a free demo with ExpenseIn today and see the difference it can make for your business.