Expense reporting solutions have made large advances in recent years. If you haven’t reviewed your expense reporting process lately, you may be short-changing your employees, accounting team, and operational budgets!
There are six key indicators that your expense reporting process is underperforming. The third is:
INDICATOR #3: You “Dumb-Down” Your Travel Policy For The Expense Reporting System
Effective travel policies need to take account of many challenging circumstances. Role and division may determine whether you can host a business dinner, how many participants are allowed, or even how much can be spent. How much you can pay for a hotel may depend upon the contract, meeting, or reason why you are about to spend company money and will need to submit an expense report.
Related Article: How "Mobile-First" Thinking Paves The Way For Easier Expense Reporting
Unfortunately, many expense reporting systems don’t allow you to create rules with the precision you need. The result? Well, not good. Maybe with enough contortions you can rig the system to approximate at least some of your rules. More typically, you end up with a lot of bogus policy violation kick-outs with plenty of discord and confusion. And then, alternatively, automated policy enforcement may get scrapped altogether just to keep the peace.
You shouldn’t have to compromise on your policies to accommodate your system provider’s programming deficiencies. Policy enforcement is fundamental to expense management. There are vendors (like us) who allow you to fine-tune your rules based on any combination of circumstances.
DATABASICS provides cloud-based, next generation Expense Reporting, P-Card Management, Timesheet & Leave Management, and Invoice Processing automation. Specializing in meeting the most rigorous requirements, DATABASICS offers the highest level of service to its customers around the world.
DATABASICS is relied upon by leading organizations representing all the major sectors of the global economy: financial services, healthcare, manufacturing, research, retail, engineering, non-profits/NGOs, technology, federal contractors, and other sectors.