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 fifth is:
INDICATOR #5: Your Expense Tool Isn’t Integrated With Timesheets, Invoice Management, or Travel
Indicator #2 covered data integration and how an effective expense solution will automatically integrate data bi-directionally and seamlessly. Once you have improved your data integration, it’s time to leverage that automation to maximize the full capability of the expense solution.
Most companies use multiple systems to address different processes including timesheets, travel booking, and invoice workflow. An efficient solution should allow companies to integrate these processes to give the user a single point-of-entry and tackle numerous tasks at once. Timesheet integration allows companies to track total employee cost on projects as expenses and time worked can be combined, and invoice workflow builds upon existing approval and accounting processes.
Next-generation providers, like DATABASICS, deliver total efficiency with a single solution to optimize and streamline multiple processes. This gives the user quick and easy access, minimizes training (and headaches), and reduces IT costs from maintaining multiple systems.
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.