The only way we can truly love expenses is by embracing greater automation of the expenses process, writes Adam Reynolds, CEO of webexpenses.
Can anyone truly say they love submitting their expenses? And can any FDs and CFOs say they enjoy managing their organisation’s expenses system? Research suggests outdated systems result in employees putting off claiming back expenses, leading to frustration and backlogs in finance departments.
According to a recent online poll we conducted, over half of people (54%) admit to hating doing their expenses. What’s more, the poll revealed that as many as 67% of employees are still reliant on outdated manual processes when it comes to claiming expenses. As a result, FDs and CFOs can be left with peaks and troughs of payments to process, making it difficult to efficiently manage workflow. Trawling through piles of paper and receipts is not only frustrating; it’s also time consuming for employees and their finance departments.
Read the full article here.