On average, 19% of expense reports have errors, according to the GBTA. Reduce data errors that lead to overpaying.Expense management software can include optical character recognition technology, in which a photograph taken on a mobile phone automatically maps to the proper expense report fields. A good expense management system starts with easing this part of the process, which is onerous for employees submitting expenses and the accountants processing them. But paper receipt loss is one of the biggest challenges for small business expense management. Most policies will call for employees to log receipts. Ease management and tracking of paper receipts. ![]() They flag improper or questionable expenses and make it easier for hesitant employees to file for reimbursement. Meanwhile, some 56% of CFOs in a recent Robert Half Management Resources survey said they have seen an increase in the number of “inappropriate reimbursement submissions” from workers over a three-year period.Įxpense management systems work at both ends of that spectrum. One-tenth of these employees never seek reimbursement as a result. That proportion is larger among employees at smaller companies. Some two-thirds of people surveyed by Allstar Business Solutions said they haven’t read their company’s expense policy. Those rules should be the product of good expense management policies.
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