Slugging it out: Manual and automated expense processing go head to head
No-one would suggest that anyone in business should bend over backwards as far as this for anything – but when it comes to expense management, automating the process for your business could make you look as supple as the girl in our picture. We compare old school manual systems with automation to show just how flexible you could be…
It’s only when you put manual expense management side by side with a modern expense manager app that you realise how different they really are. We’ve brought them together in a prizefight to do a direct comparison. These are the areas you need to focus on, and we’ve highlighted them in a YouTube post on the topic. Check it out too…
1. Round One: Flexibility. The tools you use to deal with any business management process need to be the ones that suit you. Being flexible is one of the strengths of an automated system, and with feature-rich expense management software like ExpenseOnDemand, you need to pick only the ones relevant to your business.
2. Round Two: More flexibility. ExpenseOnDemand works in a series of languages and just about any currency you care to name. And with currencies, users can spend in one and have it recorded in another, because we allow for conversion using the latest exchange rates.
3. Round Three: Reporting. Recording expenses and making payments with a manual system does no more than that – but automated expense management does much more with the data that’s been gathered. Collating it accurately – which goes on in the background in categories you’ve set up to suit your organisation – offers a whole new layer of business analytics that you can apply to make your money work harder for your business. You could eventually do it with a manual system, but you’d need to start from scratch, and think how long that would take and how expensive it would be.
4. Round Four: Receipt capture. With a manual system this is tedious and time consuming, with the result that receipts can easily be lost. A good automated system allows capture at the flick of a thumb by taking a picture of the document, and filing it with the other detail, ready to be part of the next claim
5. Round Five: Expenses on the move. Expense management by manual system means a claimant needs to be back at base before a claim can be made – and the approver needs to be there too to sign them off! That just robs the organisation of time for productive tasks at both ends of the process. An automated expense management system, using a powerful expense manager app, means claims can be made, and payments approved, wherever there’s a WiFi signal – making expense processing the work of mere moments!
6. Round Six: Instant reporting. Using captured data ExpenseOnDemand has the facility to create instant report as .csv or .pdf files, and for exporting to your accounting system. That’s another task you’d have to start from scratch, duplicating effort every second, with a manual system.
7. Round Seven. Who’s in your corner? With your own manual system, you’re on your own. Using the ExpenseOnDemand expense management software, you’ll have access to a global support network (because we’re a global company) providing answers via email, through our FAQs, videos and infographics.
8. Round Eight. Travel booking. Here’s another feature built in. All employees can use our system to book travel. And because it’s in line with the expenses policy we can create for you, you’ll know they’re doing it in the right way for your company, and that the costs involved will be recorded that way too.
Look at it that way, and the comparison between manual and automated expense management systems becomes no contest; the ‘manual’ way is outclassed in every respect.
Picture: Lunamarina | Dreamstime