If your office is occasionally witness to sheets of A4 paper flying off desks and overheating photocopiers, or bundles of receipts and perplexing spreadsheets, it is likely that your business belongs to the majority of companies in the UK that still rely on manual forms of management.
Yet rather than employing an expense reporting and management system that depends on time-consuming manual data entry and costly physical storage, your company could be making use of a smart solution of online expense management that requires no more than an app and web-based software.
The advantages of storing to the cloud rather than locally based servers is clear enough – cost, reliability, security – but perhaps the most interesting gains are to be had in the processes of a business’s day-to-day practices.
Purchases are recorded via a smart phone capture. Receipts can be thrown away straight away with the details of the transaction stored directly to the cloud, where they remain accessible and exportable by all the relevant parties (essentially anyone who’s been authorised to view the account).
Then, when a claim is awaiting approval, administrators receive notification, and can then follow a simple procedure so that staff are immediately made aware of where they stand.
Compliance and accuracy
This immediacy and transparency has a number of benefits for the accounting and business travelling team. All team members can experience relief from potentially hours of paperwork, and spending can easily be tracked and reviewed. With company policies kept in line with the latest in UK tax law, leaders can be confident that their businesses are compliant and accurate throughout any given period of time or project.
A simple and efficient process for your organisation’s expense management will keep staff happy and costs down.