Every business has expenses, which of course have to be processed and dealt with — be it using Excel or an expense management software. Most businesses still rely on paper-based reporting, which is impossible to automate and extremely slow to process. Instead of paper-based expense reporting, a dedicated cloud-based travel & expense management solution like Zento will make life much easier for your HRA & Finance departments.
Here are six reasons you should cut out paper-based reporting all together:
- Humans make mistakes, software doesn't. Even the most meticulous humans can make mistakes. They forget to double check their receipts, enter something twice, or forget to enter it at all. Software that creates automated expense reports will not only eliminate the opportunity for most human errors, it will also check for and alert the user to any information that is incorrect, entered twice, missing, etc.
- Administrators have more control with software. One of the biggest benefits of expense reporting software like Zento is the ability for administrators and other auditing parties to have greater access to relevant information. Zento will even let administrators set up policies that make it impossible for employees to break essential expense reporting rules.
- Expense Automation speeds up the reimbursement process. Especially if you have employees or departments that often use their own money for travel, events, tools, etc. Since expense approval with Zento makes the entire reporting and reimbursement process faster and easier, those individuals or departments will be far more satisfied and confident spending from their pocket on behalf of the company resting assured the reimbursement will be swift and error free.
- Reconciliation with accounts. If you already have accounting software, integrating expense-reporting software is often a simple process. This makes it possible for you to combine the two pieces of software that manages your business’s money, which means fewer errors and much better communication between accounting and the rest of your business.
- Makes your business more efficient, which makes it more profitable. If your employees are spending a lot of time manually entering information into expense templates, they are not free to actually do their jobs. Paper-based reporting is a time-sink for employees, for managers, and for your accounting department. Automated reporting software makes the entire process much more efficient which allows everyone to get back to work faster.
- Save Paper. Automated, online expense reports and other paperwork related to the expense management process can be drastically reduced or eliminated altogether. This results in a two-pronged benefit: you reduce your company’s impact on the env
If you want fewer mistakes, more control, and a more efficient reporting and reimbursement system, switch to an expense reporting software like Zento. Contact us to find out more.