Top 5 Ideas and Strategies to Increase Your Productivity Using Expense Management Software

Article Contributed by Indira Moola

Almost each and every business traveller would understand the headaches that a manual expense travelling could cause. Misplacing all the travelling receipts, documents could lead to the delays in reimbursement, while a simple calculation errors when people attempt to reconcile their expenses by hand could end up costing a company with thousands of dollars at tax time. An average business now spends 10% of its annual budget on all the expenses related to business travel. And according to a research study done by the Aberdeen Group 40% of small business owners say that they have been looking out for different ways in order to reduce the expense processing costs.

Even more important that the costs associated with expense travelling, it is also time that eats the entire process up. Business travellers continue wasting their valuable times tracking their expenses through pen and paper or even through excel spreadsheet. Businesses today to this are increasingly looking for the cloud based expense management software as one of the best solution to their business. Using expense management software business organizations could submit receipts from any location and time. And in most of the cases the receipts could be entered into company accounting system electronically snapping an image through a smart phone device.

Business Travellers to could easily increase their productivity when they start using digital expense management tools. And they are explained as follows.

Taking advantage of all the unproductive moments

Business travel is filled with downtime. So whether you are waiting at a car rental kiosk or relaxing in a hotel lobby for your next meeting you could then use your free time on the road to input the business receipts using smartphones, tablets, or laptops. By using expense management software you could easily digitize receipts and add notes about relevant purchases made though the information is still fresh in your mind.

Skipping paper receipts whenever possible

Whenever you are given an option do have the receipts emailed to you rather than printed. Most expense management software solutions to this would allow you to forward the receipts to a special address, or submit receipts from inside a browser window that would be automatically entered into your company accounting system. Doing this would not just allow you to save paper but would also save your time and money.

Having a look at the device compatibility

Most of the cloud based expense management system tools offer mobile apps for users along with android phones and iPhone devices. Business travellers need to check and make sure that the platform they are choosing offers a mobile app that compatible with which ever smartphone or tablet devices that they own.

Paying attention to the costs

The costs associated with expense management software system could vary from platform to platform. Professionals need to pay attention with unique benefits that certain platforms offer and avoid paying for all the unnecessary features that they do not plan on using.

Keeping your original receipts

By taking a snapshot of the receipt and entering it automatically into expense management software system can sometimes give professional a false sense of security. Tax experts recommend that business travellers retain their copies of receipts even after having a scanned version of all those receipts into their online accounting software.

About the Author:

Indira Moola, Marketing Operations Manager at Expenzing, focused on growing <a href=http://www.expenzing.com>Corporate Expense Management software</a> product and communicates the value of identity to customers, partners, and the larger community by targeting specific markets through segmentation and analysis.