Travel expense report
The classic expense report is based on the employee collecting and piling up receipts related to a given activity – e.g. a business trip. The employee will then register the receipts, fill out a travel expense report and sent it to the finance department for approval.
Travel expense reports in Acubiz
Even though many companies prefer our Fast Track service, where employees manage every single expense transaction the moment it arises and on the go, Acubiz can also manage the classic travel expense report directly from the mobile:
- This feature is available in Acubiz Expense.
Travel expense report vs. Fast Track
Travel expense report
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Overview of all expenses.
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All expenses are send for approval at once.
Fast Track
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Overview of expenses in real time.
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Greater precision in forecasting and reporting on the cost side for the finance department.
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Faster settlement and accounting for the finance department.
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Employees can send all expenses for approval the moment they arise.
The alternative to travel expense reports
Travel expense reports has, in the past, been the common way of dealing with employee-initiated expenses. It is still the case for many companies, but new technologies and a desire for a higher degree of efficiency has led to a more modern expense process, where companies manage expenses the moment they arise. There are some downsides associated with doing classic travel expense reports. They can create bottlenecks for the finance department at the end of the month, since the reports often will be sent in batches. This means that the company lose overview of the employee-related spend in the business.
The alternative to the travel expense reports is single expense transactions, where every expense is registered and send for approval immediately – regardless if it is a cash expense, credit card transaction, mileage etc. Acubiz were the first on the market with this mindset and approach, which we have named Fast Track. Customers inspired us to break with the idea of collecting expenses in a pile. Instead, we created the opportunity to let employees register, process and complete the expense in real time and on the go – that is by far the fastest and most effective way of processing expenses.
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