Ways to Control Employee Travel And Business Expense Costs

by Sara S. Be Cleanness Lover The time-worn phrase ‘work smarter not harder’ has itself been worked to death – but with good reason, because smart thinking does yield benefits, and one of the areas to benefit most is controlling business expense costs…

The best way to control employee travel and business expense costs is by using a system which everyone trusts, is easy and intuitive to use, and within which accuracy comes as standard. In the modern world of expense management, that’s online expenses software.

Of course, for any system to be accurate and fair, diligent inputting of data is a must. With Solo Expenses a new level of ease has been introduced to the online expense tracker package, which has been continuously evolving since its introduction to the market in 2003, by having the software read and record the details of a receipt on its own.

From the individual’s point of view that’s just a simpler and stress-free way of recording an expense. From the company point of view that means time’s being used more effectively, since expense management, although vital, doesn’t generate any revenue in and of itself.

However, it’s an indication of the level of sophistication offered by modern online expenses software that makes it the go-to business tool. Such software doesn’t recognise international boundaries, will operate anywhere in the world it can connect to the internet, and will switch from currency to currency at the touch of a button, converting one to the other with ease.

And since it lives and works on a smartphone, this powerful software is always available during business trips, delivering integration of not only expense recording with claiming, approval and payment, but also with recording it in the company’s financial records. Imagine that; from the flick of a thumb in Singapore, an expense claim could be approved and recorded in a Sunderland company’s financial records in less time than it takes to tell.

What’s more, modern expense management software delivers other benefits, such as integrating with company credit cards, doing away with any need to mix company money with an employee’s own, which makes the whole thing neater and more transparent, since there’s no need to ‘unravel’ the two later on.

But that’s only part of the story. Other benefits are available too, such as using GPS to calculate distances driven on employee business, and working out expenses claims using those accurate numbers; assisting with creating expenses policies; and the ability to file spending under the category of your choice, making the product entirely bespoke.

Adopting expense management software is a no-brainer for any company seeing to step into the 21st century with the way it manages its travel and expense costs.

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Created on Jun 8th 2019 01:25. Viewed 631 times.

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