Accounting & Audit
2019 Reviews of Expense Management Systems
If you’re tired of piles of receipts and cumbersome spreadsheets, consider making the leap to expense management software. Our Expense Management reviews will help guide you through the process.
Feb. 15, 2019
In an effort to keep things both fresh and informative for our readers, we’re exploring new ways to complete our reviews. As you know, for years, we have provided our readers with software reviews for a variety of products, looking at the features and functionality found in these products in order to help guide your efforts when you were ready to purchase or upgrade your current technology solution.
But like anything, people’s needs change over time, so we are also changing; exploring new ways to make our product reviews as useful and informative as possible. While we continue to perfect this process, and hope to roll it out soon, we are also excited to present our first product review of 2019. The Expense Management products included in this review are as follows:
We looked a variety of features and functionality in each of the products reviewed and include pricing details when available. Many of the products offer a demo that can be easily downloaded to try out prior to purchasing, which is one of the best ways to determine if a particular program fits your needs.
As for expense management, it’s always been important, but today, with travel and entertainment budgets reaching epic proportions, many businesses, large and small, are beginning to look for ways to maintain employee productivity while also containing expenses. We all remember the traditional way of handling expense management, which often found both staff and managers bogged down with the elusive details, while staff accountants were buried under a pile of reports at month end as employees waited weeks for their reimbursements. If only there was a better way…
The good news is that there is a better way, even though only a fraction of small and mid-sized businesses currently utilize it. The solution: expense management software applications.
Expense management systems can streamline the entire expense report process, offering easy receipt capture, automatic report creation and routing to the correct approver(s), and reimbursements paid in days, not weeks.
If you were to ask staff members what their biggest pet peeve is when traveling, it would likely be keeping track of their receipts. Not surprising, that’s also the biggest pet peeve for employers as well. Many an expense report has been delayed for weeks as the accounting department waits for an employee to hunt down a missing receipt. Other issues often experienced when using manual systems are the time-consuming audits of submitted reports, as managers and accountants both sift though page upon page of data to determine if company rules have been followed, or if expenses submitted are authorized, or even real.
Yes, there is a better way, and the products included in this review prove that. If you’re tired of piles of receipts and cumbersome spreadsheets, consider making the leap to expense management software. Our Expense Management reviews will help guide you through the process.
See inside February 2019
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