Around two-thirds of business executives agree that the demand for paperless processes is on the rise. This demand comes from employees who are increasingly accustomed to using digital technology both in and outside the office. Thankfully, many businesses are rising to the challenge. They’re listening to employees and implementing new tools and technologies that help to digitise and automate previously paper-based processes. But some businesses are lagging behind, especially when it comes to expense management. In fact, 41% still use a paper-based system.
When you think about it, paperless processes are everywhere. More emails and texts are sent than letters. Credit and debit cards are used more than cash. Tickets for events and travel are increasingly issued digitally. Isn’t it time expense management followed this digital approach?
So if you work with paper-based expense reports, here’s four reasons to go digital:
Save some time, clear your desk and stop rifling through receipts. Just take a photo of the receipt, upload it to the expense management system and discard. Claims can even be populated for you thanks to optical character recognition, so you have time for more important tasks.
Don’t wait until your back from your trip to claim your expenses. With a mobile solution, you can manage your expenses anytime, anywhere, on the device you feel most comfortable using. If you’re one of the people approving claims, you can do this on the go too.
If you work in the Finance team, a digital solution allows you to build in booking restrictions so every claim aligns to company policy. Plus, it will create a complete and reliable audit trail should your business need to answer any queries from HMRC and other authorities.
Company spend is much easier to control once you ditch the paper and have all your data in one place. Every penny is accounted for and fraud can be reduced. You can also run reports to review spending trends and identify areas for improvement.
Before I joined Concur, my desk was cluttered by receipts. My excuse? Submitting expenses was painful. The software we had was sluggish and I had to wait ages to be reimbursed when I did get around to making a claim. If you or your employees can empathise with my story, a digital expense management solution could be the answer. Paperless working makes sense for everyone and expenses are a great place to start.
Why not sign up for a free Concur Expense trial? You could be putting paper in the past in no time.