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Expense Management Software

Employee expenses; every company has them and every member of staff wants the money reimbursed quickly.  However, the travel expense management process is one of the most time-consuming processes for employees and the finance department.   Expense management software removes this time consuming and often complex work.

For any business trip, employees need to document where they were and when, and produce a receipt for every item they have bought. Depending on the size of an organisation, finance departments may process hundreds of claims each month.

Many companies resort to paper forms or excel sheets for expense management reporting as a way to capture all the required information.  However, these are often unsuccessful as rules around expenses requests change so frequently and employees don’t always complete the forms correctly.  

The Challenges Of Paper-Based Expense Management

Paper-based processes come with a variety of challenges and are often the reason our clients and prospects get in touch with us to begin with.  We regularly hear about:

managing business receipts
  • Time-consuming, error-prone, manual work for all involved
  • Longer processing times increases costs due to lengthy review and approval times
  • High error rates and queries from employees
  • Clear processes, guidelines or templates are often missing or not followed
  • A lack of transparency for large business trips as there many travel expense reports
  • Paper-based receipts being lost, not sent or archived incorrectly
  • Unclear approval processes and the status of processing
  • Audits taking longer 

As a result of  these, questions pile up with back and forth messages between employees and finance, long processing times arise, and errors occur.  The effort for employees and administration staff still remains high even with digital templates.  Paper receipts have to be found and submitted and often expense forms have to be printed out. Expense management software addresses all these issues. 

Our expense management software makes processing employee expenses easy. We create simple electronic templates which are available to all departments involved in the expense process. The system can handle calculations and currency conversions, as well as split money across various cost centres as required. 

Receipts are captured digitally and attached to expense line items, with the ability to validate against any parameters set by your business – i.e. a lunch expense shouldn’t total more than £10.  Managers can approve or decline expenses from within the system before anything is processed.

You can read more in our blog - Managing Employee Expenses.

The Features Of Expense Management Software

If you're organisation is looking to implement expense management software then understanding the features and benefits will be instrumental when making that final decision.

A Digital Form

An employee can enter their expense information straight into a digital form, it can provide default answers or it can transfer data from and existing business trip request, making regular trips that bit easier to manage.

Expense management software

Submitting Receipts

Paper receipts can still be used but to make things easier, employees can upload them digitally or take a photo and submit it with the form.  It doesn't matter if the paper receipt is lost or damaged, which works out well for those employees who accumulate lots of receipts.

Cost Splitting

Costs can easily be assigned to a specific cost centre or split across a variety of different cost centres as required.

Managing Tips And Extra People

Should an employee have a working lunch with another member of staff, this can be easily included.  Likewise the expense management software has the functionality for staff to report on any tips they have given to restaurant staff.

Expense Limit Management

The software offers a greater control over internal guidelines and expense limits than paper or excel forms can, along with compliance of these guidelines.

managing business expenses

Mileage Allowance

Mileage allowance calculations can be made with limits that can be easily altered in the system by management when any changes occur.

Payment Methods

Employees can choose their preferred payment method where different choices are offered to staff.

Security

Security and transparency are enhanced regarding responsibilities, documents and approvals.

The Benefits Of Expense Management Software

  • A clear dashboard is provided for easier travel management
  • Upload receipts digitally or photograph them using a smartphone
  • Automatically calculate totals and expenses
  • Convert currencies automatically
  • Fill in travel expense report by form or template
  • Integrated rights and role management controls approval processes
  • Process status can be viewed at any time
  • Faster expense reimbursement
  • Faster settlement
  • Optimised communication in case of queries or errors
  • Reduced paper and storage costs 

Perfect Products For Your Business!

Our extensive range of products can help your business on its digital journey.  Suitable for organisations of any size, and as simple or as complex as you need them to be.

Document Management

With DocuWare all your documents are stored and shared digitally.  It’s faster, more transparent, and more efficient than traditional paper-based methods.

Go Paperless

Document Workflow

We create digital workflows to meet an organisation’s bespoke requirements. We can provide an electronic system to track, edit and manage all documents associated with any existing or new process.

Digital Processes

Data Capture

Accurate data capture is vital, and some organisations have very specific needs. Our products help extract data for those with information in unstructured formats.

Get Accurate Data

Desktop Scanners

Our document scanning software gives you full control of the flow of information coming into your business. No more lost documents or bottlenecks.

Document Scanners

Reporting Suite

Use a central platform to collect, integrate, analyse and present your organisation’s data from multiple databases. Measure and track KPIs in real time.

Track KPIs

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Contact us - info@doctech.co.uk or 0161 647 7040