Expense management is an important process for businesses of all sizes, but few executives consider the lost time and labor associated with manual expense management processes. With 47% of businesses having switched to cloud-based systems, it’s clear that executives have an increased interest in the efficiency, visibility, and control a cloud-based system offers. Through the use of mobile app receipt parsing, automated expense report creation and submission, and travel policy restrictions, T&E spend can be managed more quickly and accurately. Policy violations and duplicate expenses are reduced significantly, with an average annual savings of $40,000. The entire company benefits from the automated process, from the traveling employee to the accounting team, creating a smoother, simpler process. Automation is the key to increased productivity, T&E budgetary controls, and value addition.
