When a company grows, the number of expense reports multiplies. Although VSEs can manage expense reports manually, once a company reaches the SME stage, it\u2019s a different story! To improve their productivity, as well as their security, SMEs can really benefit from adopting an expense report management application.<\/p>\n\n\n\n\n\n\n\n
An indispensable tool for SMEs until now, Excel has certain limitations, particularly in terms of managing expense reports.<\/p>\n\n\n\n
The traditional method of managing expense reports on an Excel spreadsheet requires multiple manual entries and provides very little flexibility. It is a perpetual waste of time for employees and accountants alike\u2013the processing time for each expense report can be more than 30 minutes! Employees need to collect their receipts, scan them, and have them approved, while the company\u2019s accountants have to check them in turn, enter them several times, and then integrate them into their database.<\/p>\n\n\n\n
As for reimbursement, the timescales have increased to such an extent that there is now an average of 30 days between preparing an expense report and being reimbursed<\/strong>. Your employees are unlikely to be reimbursed in the same month that they incur their expenses. This is clearly a problem, and could even be a cause for dispute if the employee has advanced significant expenses.<\/p>\n\n\n\n The manual entry of numerical data is particularly problematic and errors are widespread. Whether for the data entry itself or the calculation, an average of one in five expense reports need to be rechecked.<\/p>\n\n\n\n According to a study by the Global Business Travel Association, a single expense report costs the company \u20ac53<\/strong> in terms of the time spent by the employee and the accounting department. If there is an entry error, it will cost you an extra \u20ac48. In addition, it is not always easy to see whether limits have been exceeded and the recovery of VAT on expense claims is often approximate<\/strong>.<\/p>\n\n\n\n The most common abuses by employees include: mileage charges, intentional duplication, or exceeding expense limits. These frauds can occur all too easily under the nose of SMEs if they do not use automated management solutions that detect suspicious expense reports and alert the accounting department.<\/p>\n\n\n\n The digital transformation of companies does not only affect large groups. Everyone, from sole traders to SMEs, can benefit from automating time-consuming tasks with low added value<\/strong>. A management application for expense reports offers multiple benefits.<\/p>\n\n\n\n An expense report management application can divide expense processing time by four, generating a gain in productivity on high value-added tasks.<\/p>\n\n\n\n If you pick the right expense report management application, it is also the most efficient and reliable way of safely digitizing and centralizing data<\/strong>. You can then generate reports<\/strong> and obtain a clearer picture of your employees\u2019 expenses.<\/p>\n\n\n\n The application also allows you to manage your expense reports as you go along, so you can avoid the end-of-month \u201crush\u201d or filing delays by your employees. It also facilitates processing and improves the reimbursement timescale.<\/p>\n\n\n\n Application-based management also ensures that processes are harmonized. In addition, if there is an audit by URSSAF, all supporting documents and calculations are clearly and unquestionably accessible.<\/p>\n\n\n\n To choose the best expense report management application, you must first determine the needs of your SME. Do you need the application to:<\/p>\n\n\n\n Answering all of these questions will help you to evaluate the application\/software you need to automate your expense report management. There are various solutions on the market offering different functionalities<\/strong>, more or less complete depending on the application: with or without expense limits, with a directly integrated payment card, or with functionalities that allow the solution to be used internationally. The important thing is to choose the application that truly meets your needs<\/strong>, no more and no less, and at an attractive price.<\/p>\n\n\n\n N2F offers you its online expense report management application to put an end to this time-consuming task, while securing your data. Your employees scan each receipt, which is transferred in real time to the accounting department. The receipt is processed quickly, with a vastly reduced risk of error and with increased security. Are you looking for the best solution for your expense reports? Then get in touch with us!<\/p>\n","protected":false},"excerpt":{"rendered":" When a company grows, the number of expense reports multiplies. Although VSEs can manage expense reports manually, once a company reaches the SME stage, it\u2019s…<\/p>\n","protected":false},"author":5,"featured_media":372,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[244],"tags":[214,226,220],"ppma_author":[718],"class_list":["post-790","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-travel-expenses-report","tag-expense-report","tag-refund","tag-sme"],"acf":[],"yoast_head":"\nSources of error<\/h3>\n\n\n\n
A very high cost<\/h3>\n\n\n\n
Potential for abuse<\/h3>\n\n\n\n
The benefits of an expense report management application for SMEs<\/h2>\n\n\n\n
Time savings<\/h3>\n\n\n\n
Data centralization and security<\/h3>\n\n\n\n
How can you choose an expense report management application adapted to SMEs?<\/h2>\n\n\n\n