Expense reimbursement software

Expense reimbursement software helps reduce processing costs and time

Expense reimbursement software is the perfect solution for organizations looking to reduce processing cost while also improving efficiency in spend management. The solution helps improve visibility into T&E spend and manages travel expenditure and reimbursements in real-time.

Businesses need to bring down operational costs and improve efficiencies when managing T&E spending. Otherwise, without proper visibility, T&E expenses skyrocket exponentially. Moreover, organizations will need to study the vendor landscape a little better if they are to purchase T&E services at reduced costs. A business process automation tool such as expense reimbursement software can help organizations improve their scope and visibility into T&E practices. Visibility drives efficiency and credibility into corporate expense management.

Any technology should ultimately benefit the end user; in this case it’s the employee, more specifically, the business traveler. Business travel is important for organizations looking to up their game in a fiercely competitive market. A suitable technology selection will impact the greater organization positively, bringing in increased revenues and efficiencies. Well, expense reimbursement software is the answer. Integration, mobile applications, and analytics make this solution comprehensive and indispensible for efficient expense management. Other notable features include online travel booking, expense report creation and submission, reporting, back-end processing, and reimbursements. Automation through expense reimbursement software enables credible audit flows throughout organizations. Other factors that make the solution indispensible are employee compliance to corporate travel policies, elimination of paperwork, hence, fewer errors, and complete visibility into T&E spend. Expense reimbursement software enhances processes and improves performance.

Automation reduces the time-to-reimburse considerably, building trust between management and employees. Automation of T&E expenses makes the solution highly strategic and helps organizations prepare T&E budgets well in advance. In essence, costs that would seemingly be termed as variable could now be conveniently converted into fixed expenses, ensuring greater financial stability for organizations. Expense reimbursement software helps organizations drive more value out of business travel by providing end-to-end visibility into spending, suppliers, and functional processes. Ordinarily, T&E managers face a series of pressures and challenges when computing travel expenses. The dynamic nature of accounting in T&E also doesn’t help matters, what with the constant and frequent delays between expenses incurred and those that are reported. With expense reimbursement software, companies are able to coordinate spending and reimbursement in record time; mobile applications ensure that expense thus incurred are intimated to the concerned managers immediately. This aspect of expense management helps business travelers receive reimbursements quickly. Also, pre-defined approval workflows will reduce the times to process, approve and reimburse. Online transactions also improve and build a credible audit trail, making it easy for all the participants in a transaction o verify for discrepancies, if any.

Improving intelligence within T&E has significant, positive ramifications across the organization, for the simple fact that a credible T&E management enforces regulations in all other corporate related expenses. Introduction of technology, specifically, expense reimbursement software into businesses has resulted in over 35% to 40% improvement in compliance rates, and 50% to 60% reduction in expense processing costs (Aberdeen 2012). All in all, expense automation has lead positive results for both the employees, i.e., the business travelers and the employer. By deploying business process automation solutions that help convert variable costs into fixed costs, businesses are experiencing greater ROIs (return of investment).

SutiExpense is an intuitive and intelligent expense reimbursement software that helps simplify and streamline your expense management process. It allows you to manage your day-to-day expenses from anywhere and helps you save time and money, making your life easier. Our flexible design supports rapid deployment and adoption.

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