What are the benefits of using an online expense management system?
Processing expenses claims in paper format is time consuming, costly and prone to error. Claimants normally submit a handwritten form which may not always be legible and attach receipts as proof of expenditure which can be lost during the various stages of processing.
An online expense management system has downloadable templates which claimants complete online and all accompanying documents can be scanned or attached electronically to the claim form. Workflow then routes the expenses claim to the relevant approver who processes the form electronically. If there are any queries regarding the claim workflow will then direct the rejected application back to the claimant for amendment.
Using an online expense management system ensures that all claims are legible and completed on the correct form. Related paperwork such as till receipts are linked to the electronic document using a common reference and therefore cannot be lost or destroyed. Workflow speeds up the processing time considerably and allows queries to be resolved more quickly. Consequently time and money is saved allowing staff to be redeployed to more productive tasks.
For further information and advice on implementing an online expense management system please click here or call Cloud B2B solutions on 0800 840 3336.
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