Understanding the functionality of expense report software

Expense report software can help organizations in a number of ways. The software brings on to one platform all the functionality that organizations require to manage expenses. In this post, we will try to understand more about the functionality of this software.

Centralization: Generally, expenses are managed in a disjointed manner in many organizations with different stakeholders working in different silos with very little coordination among them. This is in contrast with expense software, where expense management is centralized. Centralization also ensures visibility for all.

Mobile access: Another feature of this software is mobile access, which helps employees report their expenses from any location. This feature also helps make receipt management much simpler and makes the job of expense report preparation much simpler.

Analytics: Analytics is one feature that not many organizations think to care for. They just let things happen without proactively doing something about making them more optimal. This is where analytics come in handy. They help optimize processes and control spend.

Integrations: If the functionality that expense management software comes with is not enough, you always have the option to enhance its functionality by integrating it with other solutions. These can range from travel booking portals which help keep travel booking in-house to online signature software solutions that help make processing quicker and secure.

Automation: Automation features a lot in expense report software. It starts with OCR technology which populates expense reports automatically from receipts. Further, approvals are automated too. Approvers can delegate their responsibilities to others in cases of absence or overload of work.

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