Staffing organizations find it a challenge to get employees reimbursed for their expense reports quickly and efficiently. This is especially true if they have a large, mobile workforce with employees and approvers on the go. Organization is the key to success when it comes to timesheets and expense reports and receipt management can be an essential way to stay organized. If you’re looking for timesheet and expense report software, here are five benefits of receipt management for staffing firms.
Benefits of Receipt Management for Staffing Agencies
Receipt storage makes managing receipts easier than ever.
The days of managing tiny slips of paper with that essential proof of a purchase are in the past. Today, receipts can be emailed in or employees can use their own mobile device to take a picture of a receipt and store it in the system until it’s time to attach that receipt to an expense report.
Emails can become receipts.
We receive a lot of receipts by email nowadays. Instead of copying and pasting that receipt into a new document and printing it, you can now simply forward the entire email into the system. The email will become a PDF and it can be stored in the receipt repository or it can even attach itself to the employee’s expense report.
Receipts can automatically match card transactions.
When you link your company credit card or P-Card feed to the expense report system, receipts can be automatically matched to the correct transaction. By reading the receipt using OCR (optical character recognition), the system can connect data about the transaction to the data from the receipt, matching transactions to receipts automatically.
Related Article: Why Staffing Firms Should Go Paperless With Time & Expense
Approvers / admins / MANAGERS are more satisfied.
Managing expense reports and receipts by hand using spreadsheets or (worse!) paper receipts can be overwhelming, especially when it’s so easy to lose those tiny pieces of paper. Electronic receipts keep receipts attached to the right report and prevent paper receipts from taking up valuable desk (and head) space.
Instant expense reports.
With the latest technology, it’s possible for expense reports to be completed in an instant. Employees just take a picture of the receipt, let the system use OCR to “read” the receipt and auto-fill relevant data like vendor name, date, and total, and then verify the data and submit. Expense reports are done in a matter of minutes (or even sometimes seconds). This makes the job of doing expense reports so much simpler and leaves employees feeling more satisfied with their job.
When it’s essential to get billing done quickly and efficiently, receipt management software is the key. Staffing organizations can stay organized and employees are more satisfied when they can use receipt management for staffing firms. Learn more about how DATABASICS Time & Expense for Staffing Firms™ can help your organization.
For more information on the DATABASICS Time & Expense solutions, contact us, or call (800) 599-0434.
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.
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