Submitting business travel expenses is one of the tasks that tend to accumulate at the end of the month. Workers who usually have to travel for work accumulate proofs of purchase until the time to submit their expense report comes. Would you like to know what benefits are provided by automating this process? It adds a bonus to time management.
One of the most obvious advantages of automating the process of managing travel expenses is the use of less paper and the improvement in time management. This fact provides greater efficiency, as an employee’s time is optimised, productivity is gained and it is easier to detect possible fraud. Below, we discuss the differences between manual and automatic management.
- Employees who travel collect their proofs of payment on paper.
- They note down information manually on the receipt to remember the circumstances in which the expense was acquired.
- To make the expense report, employees must collect the receipts generated during the month to be able to make the report, and only then start writing the report.
- After making the report, which takes about one hour, the employee sends it by e-mail to the person responsible for supervising the expenses.
- They take an envelope, place all the proofs of payment inside it and deliver it to a supervisor or someone in management.
- Then comes the wait for the report and original proofs of payment to be checked.
- The supervisor receives an extremely large number of proofs of payments and has to review them one by one.
- After a few days, the company, if everything is correct and no receipts have been lost, reimburses the expenses.
- In the department in charge of accounting, an employee “manually” enters all the information in the company's accounting system.
- With a single click using the digital expense management app platform on their smartphone, employees can make a copy of the receipt and forget about the paper version if the platform is approved by the Tax Agency.
- In the case of Captio, the information on the receipt is read automatically using OCR.
- The expense report is generated automatically. The employee does not waste a single minute.
- With another click the employee can directly send the report to their supervisor.
- The documents are digitised, certified by the Tax Agency and stored in the cloud. No envelopes are needed.
- The department in charge of supervision has alerts through the digital platform, which have been configured in accordance with the company’s travel policy and therefore the information is already filtered.
- The employee receives a notification when the report has been approved.
- They are reimbursed for the expenses.
- The information on the expenses is directly integrated into the accounting system of the company, therefore achieving a greater level of efficiency.
Thus, through automated management of company expenses, time and business efficiency is achieved.