Companies can streamline their Expense Management processes. We have advocated that before. We have also given advice on how you find the right Expense Management solution or how to best implement an Expense Management solution.
Besides benefiting the company, an Expense Management solution has great importance and advantages for the company’s employees. The employee benefits are important to consider in the consideration- and decision-making process. Different employee groups experience different benefits. This articles focus is the daily users of an Expense Management solution. Not the finance department or the management.
“Our current system works fine”
All companies have a process for handling employee expenses, mileage and time registration. The process is manual in many cases. According to the companies with the manual workflows their current system “works fine”. Because the task is solved after all. Perhaps the decision-makers should ask their employees whether they are happy to spend their own money on corporate-related purchases and then wait to get the amount reimbursed? Very few people think that this process is optimal. Furthermore, the hand-held workflow of delivering receipts in the system is often both slow and troublesome.
It may end up with employees deliberately trying to avoid having expenses. KAB, who is one of our customers has experienced that. It damages employee satisfaction. In more extreme cases, it can even damage the company’s productivity if an employee is not willing to pursue a business opportunity because it is troublesome to reimburse the expense.
What are the benefits for the employee?
Acubiz wish to make everyday life easier for employees. Unfortunately, they spend to much time on time-consuming and troublesome workflows in connection to expense management. That time must be given back. Because it can be used on much more fun and productive tasks. For the benefit of both the employees and the company.
The time savings of an Expense Management solution are definitely the most significant advantage. From our experience we know that a fully implemented Acubiz solution saves our customers 66 % or more of their time spent on handling expenses and travel settlements. In other words, employee productivity increases significant.
There is no need to keep old receipts. Keeping track of old receipts from gas stations and restaurants or mileage to customers and fairs is only irritating. And what if some of them disappear before you register them? Then it will be difficult to get them reimbursed. With an Expense Management solution, it is easy to register expenses, mileage and time on the go in real-time. It will also overcome companies’ budgetary challenges of employees collecting expenses to pile instead of handling them on the go.
Acubiz’ solutions are always developed based on the users needs. Similarly, we encourage companies to look for solutions that can make everyday life easier for their employees. This can easily be combined with a desire for savings and a high ROI. It is not either/or. With the right Expense Management-supplier it is possible to realize a significant gain. Try our calculator and figure out your annual savings potential.