The idea of expense reporting disappearing forever seems to be the wish of anyone who has ever filled one out.
Even the simplest, most straight-forward system is an annoyance. We admit it. So what about the claims that the self-generating expense report is here, or just around the corner? These claims appear to be based upon use of booking data and receipts.
While you can certainly pre-populate a report with basic transaction information—what you bought and how much you paid—there is a certain irreducible effort needed to categorize spend for business purposes.
A receipt has no knowledge of your expense codes, accounting structure, your organizational units, your cost centers. Defaults can help but ultimately you have to do some mapping. We may be reaching the point of diminishing returns in eliminating keystrokes and finger taps.
We will keep trying to make things as easy and efficient as possible, but we expect to be helping organizations such as yours with their expense reporting for a long time yet. Sorry. Learn more about how DATABASICS helps with its time & expense solutions.
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.