6 Big Reasons Why You Should Ditch Paper-Based Expense Reporting
Whether it’s an online startup, a small local business or a full-fledged business organization, there will always be expenses. The scales and the number of employees may be different, but they’re there. You can’t escape them so, they have to be dealt with, sooner rather than later.
While there are companies that use Excel or expense management software for their expense reports, there are still many who rely on manual and paper-based reporting. Paper-based reporting is traditional, and many are adamant about how it has worked for them. This is largely why this system is prevalent and those who are used to it are not easily swayed to switch to automation.
However, with many advanced software and cloud-based apps that provide complete expense management solutions, such as Gorilla Expense, the need to automate is really just a step forward. After all, despite its familiarity, paper-based expense reporting is extremely slow, tedious, and not to mention frustrating.
Here are the 6 Big Reasons Why You Should Ditch Paper-Based Expense Reporting:
- Paper-based expense reporting is error-prone. Let’s admit it. No matter how meticulous, humans can still make mistakes. And in business, a simple miscalculation can impact your company in big ways. Whether they’re tired, distracted, or simply forgetful, humans may forget to check receipts, lose files, enter information twice, or simply forget to report at all. Automating expense reporting with the help of a reliable, intuitive software allows you to make the process smoother, faster, and less prone to errors. You will get alerts for any errors so you can ensure that you don’t make mistakes in your reporting process.
- You have more control. As an administrator or even any auditing party, you can benefit from ditching your paper-based reporting process. This is because automated software can allow you to have more control over the information you want to see, giving you full visibility. You can also set up policies and compliance guidelines that can easily be followed with the help of automated expense management solutions.
- Speed up your reimbursements. When you have employees who travel or events where you spend, it’s important that the expense reporting process is smooth and quick. We all know how much employees hate to wait for expense reimbursement so, incorporating expense management software provides a win-win situation for both your company and your employees.
- Reconciliation is a breeze. If you already have accounting software like Microsoft Dynamics GP or Sage Intacct, expense reporting solutions such as Gorilla Expense can be integrated so that the process is simple, easy, and streamlined. Plus, speeding up reconciliation is a direct correlation to the next big reason… increasing productivity!
- Efficiency and productivity are increased. When things go smoothly in this department, your employees will then spend less time doing the tedious and manual work that can often be a source of frustration. The time they don’t spend hovering over receipts and expenses is time better spent on their core competencies. They, therefore, get things done faster!
- Go green and save paper. Automating expense reports means you use up less paper and other related resources, therefore making things more environment-friendly. You reduce your own company’s costs and you make less impact on the environment.
If you are still using a paper-based expense reporting system but are considering shifting to an intuitive solution, please join Express Information Systems and Gorilla Expense for a webinar on Wednesday, May 27th at 10 AM as we demonstrate how efficient a complete expense management solution can be!