Wednesday, March 28, 2012

10 Web Technologies Employers Can Use for Expense Reports

Companies who reimburse their employees business expenses can end up spending countless hours and file space dealing with employee expense reports. They have to go through and make sure all the claims being filed are legitimate and that their business isn’t paying for an employee’s personal expenses, which can end up being a fairly arduous task. They also don’t want to lose good employees because they aren’t being reimbursed in a timely manner. Since travel expenses are a large portion of expense reports, it stands to reason that these employees are often out of town and need some way to file these reports remotely. To meet this demand several web technologies have been developed that employers can use to quickly and efficiently go file their expense reports.

  1. ExpensePoint – Globalpoint Technologies has developed an online expense reporting system called ExpensePoint. The reporting process is fully automated with company credit card purchases imported directly into the system. Review, approval and accounting are all done in an instant.
  2. Concur Premier – This web based technology takes the expense reporting to a new level by also providing corporate travel bookings in conjunction to basic expense reports. This streamlines the reporting process since the expenses are uploaded automatically into their paperless transaction process.
  3. Verian – An online accounting software provider, Verian has the capabilities for employees to submit their expense reports from any computer or smart phone. Expenses are automatically posted to the proper accounts and employees can get reimbursed through direct deposit.
  4. SmartDoc – This free iPad app is a fully functioning expense report application. Employees can keep track of their expenses with SmartDoc while they travel and have a full report ready to submit when they return.
  5. Chrome River – Another online accounting and expense reporting system, Chrome River offers a user friendly and painless way for company personnel to submit their reports in a timely manner. Approvers and finance managers enjoy a flexible system that can be customized to their specific needs.
  6. ExpenseNet – Developed by InterplX, this is the first web-based reporting software built to conform to the Sarbanes/Oxley legislation. ExpenseNet has the sophisticated capabilities to handle the most complex businesses with a diverse workforce.
  7. ExpenseWatch – Employers who want to manage their expense reports online can use ExpenseWatch to track their travel and entertainment costs from anywhere. This software integrates with existing business workflows while also providing added flexibility.
  8. Paybackable – This simple online application tracks employee mileage and expenses and is integrated with QuickBooks accounting software. Paybackable is an easy way to keep track of and submit out-of-pocket expenses.
  9. Expensify – Employees can submit their expense reports online by importing directly from their credit card or bank account or by scanning their receipts. Expensify has free mobile apps and flexible reporting and reimbursement options.
  10. Certify – Making expense reporting painless and simple, Certify has revolutionized the game of corporate expense management. Business travelers and their employers have a comprehensive system to handle global contingencies.

All of these web technologies help to free up employees from the hassle of keeping track of paper receipts and filling out tedious reports. Tracking and verifying expenses can be done more efficiently, thus reducing any time-consuming errors and verification processes. The risks of fraud and waste are greatly minimized because the expense approval is much less cumbersome. Many of these technologies integrate directly with accounting programs to eliminate data entry errors. Submitting travel expenses online has revolutionized the corporate world.

Taken From DSL Service Providers

1 comment:

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