Mobile Wows Not Woes
The Aberdeen Group reports that more than 50% of companies suffer poor visibility of their employee’s expense compliance and spending . Against this substantial challenge, how can mobile “work from anywhere, anytime” solutions bring answers?
Firstly they can reduce human error. Mistakes happen, and the greater the number of touch points, the greater the opportunity for errors to occur. Using a mobile technology solution to capture receipts, read data and automatically populate expense lines (OCR technology), reduces the opportunity for mistakes and expense fraud to occur. Integrations with credit cards brings further automation, accuracy and security. An important advantage of a mobile solution is the ability for the finance team to get early visibility of individuals spend. This enables more accurate budgeting and cash management, helping finance add value to the bottom line in the business.
In most cases, employees are trying to be “good actors”, but when the expense process is difficult and time-consuming, employees will often do the natural thing – look for a quick fix or a smart workaround. With expenses, that could mean letting receipts build up for many weeks in order to do them in one big batch. But, if the process was quick and automated, most would prefer to follow the rules and submit claims “on the fly” using their mobile apps. Employees normally won’t try to beat the system if it has been built with them in mind.
Mobile can help empower your employees so that they are clear on the policy, and are notified instantly if a claim is out of policy. They can even use their mobiles to check the policy before they spend the money, saving time and admin later on.
Overall, mobile can be a key part of providing a superior expense solution for your employees.