Lorem ipsum dolor sit amet, consectetur adipiscing elit. Donec rhoncus neque sed nibh sagittis, fringilla porttitor ipsum tristique. Nulla interdum ex et nisi vehicula, id laoreet nisl ultricies. Phasellus vitae magna ac lacus dictum tincidunt. Sed iaculis metus nec viverra pulvinar. Etiam id nisi eu turpis mattis imperdiet ac ac tortor. Aliquam at ipsum dui. Etiam pharetra consequat massa. Aenean nec lectus sit amet metus pharetra dapibus. Pellentesque interdum ex eget nisi fringilla, id semper erat rhoncus. Suspendisse lectus leo, malesuada pharetra commodo a, sollicitudin eu erat. Nullam justo nisl, tincidunt vel auctor id, luctus a tellus.
Pellentesque sollicitudin mauris sit amet enim volutpat, at faucibus sem laoreet. Morbi egestas ex non orci interdum, ut elementum orci faucibus. Maecenas et sem convallis erat dignissim facilisis. Quisque purus sapien, pellentesque euismod varius id, fermentum nec nibh. Integer commodo dignissim ipsum, ac accumsan metus fringilla sit amet. Aenean aliquam sem finibus tempor venenatis. Aliquam ac facilisis turpis, eu posuere ipsum.
In nisi dui, ultricies sit amet gravida vel, ullamcorper vel mauris. Aliquam nec sapien odio. Sed vitae suscipit felis. Nullam semper blandit lectus, eu finibus urna fermentum et. Aliquam vehicula ligula nibh, non efficitur massa iaculis et. Vestibulum vitae euismod odio, non maximus nulla. Sed viverra porta enim ac interdum. Maecenas auctor tristique auctor. Nullam et neque nec tortor malesuada ullamcorper. Pellentesque ac fringilla ante, non convallis est. Proin velit augue, rutrum vitae ipsum vel, malesuada dictum urna. Nunc vulputate sit amet odio vitae ullamcorper. Nullam suscipit ornare eros, et viverra sapien hendrerit quis. Donec odio eros, ultricies a risus quis, efficitur elementum turpis. Etiam interdum diam quis turpis ultricies.
Sed non sapien eros. Duis fringilla fringilla lectus sit amet aliquam. Aliquam erat volutpat. Vivamus molestie, felis rutrum luctus pulvinar, libero metus eleifend mauris, semper malesuada ante eros vitae eros. Phasellus vitae dolor faucibus, laoreet lectus quis, placerat nisi. Nam ornare nulla id est aliquet, quis fringilla neque congue. Duis facilisis sed massa vel bibendum. Curabitur sollicitudin tristique commodo. Vivamus facilisis venenatis nibh. Integer placerat elementum felis, id consequat lorem consectetur a. Duis laoreet sit amet nisl in eleifend. Interdum et malesuada fames ac ante ipsum primis in faucibus.
Proin eros lacus, pellentesque sed vehicula a, luctus non nibh. Nulla diam sem, posuere ac odio varius, ultrices tristique nibh. Morbi dictum scelerisque convallis. Praesent faucibus lorem lacus, id luctus justo feugiat et. Curabitur eget tellus non nisi interdum blandit. Maecenas pulvinar est sed ex elementum, ac commodo diam bibendum. Nulla auctor dolor felis, sit amet euismod ante eleifend non. Donec id neque magna.
Employee travel and expenses (T&E) are a major cost for most businesses. Managing these expenses efficiently is key for controlling budgets. Traditionally, expense management involved manual processes like collecting paper receipts and spreadsheets. This created complexity for finance teams to track spending and process reports.
Automating expense reporting through spend management software removes friction and gives visibility into exactly where money is being spent. For companies just getting started, implementing an automated expense management system is easier than it sounds thanks to intuitive tools like SAP Concur and Expensify. These solutions make it simple to capture receipts with mobile apps and configure approval workflows tailored to your needs.
Spend management platforms eliminate the hassles of paper-based expense reporting. Features like receipt OCR, reporting, and accounting integrations streamline T&E management to unlock significant time and cost savings.
Spend management software centralizes expense processing with cloud-based tools. Core capabilities to look for include:
Streamlining T&E management delivers major perks including:
1. Cost savings - Automation reduces time spent processing expenses for a leaner finance team. Many tools also optimize travel booking and streamline approvals for further savings.
2. Accuracy - Digital tools eliminate manual data entry errors. Expense details are captured at the source for reliable reports.
3. Compliance - Centralized company expense policies are enforced consistently across the organization.
4. Productivity - Employees save time by avoiding paperwork. Finance gains efficiency by eliminating repetitive administrative tasks.
5. Insights - Detailed expense analytics help inform future budget and policy decisions.
When evaluating expense management solutions, look for these key features:
Leading solutions like Ramp, Airbase, and Navan enable organizations to tailor automated expense management to their specific needs and processes.
Driving employee adoption is critical when rolling out new systems. Some best practices include:
While automation delivers major benefits, be aware of a few common hurdles:
A successful implementation sets up the organization for long-term spend visibility and control. Critical steps include:
With many solutions to choose from, key selection criteria include:
Exciting developments on the horizon include:
Replacing legacy processes like spreadsheets with automated systems represents a major change. Following core best practices helps ensure a smooth transition:
Expense reporting software serves as a launch point for comprehensive spend management. Additional capabilities like procurement and invoice processing can be layered on over time for complete visibility and control.
With strong foundations for capturing T&E, organizations can evolve their strategies to optimize broader purchasing and invoices. The data and process foundations established by automated expense reporting pave the way for true enterprise-wide spend management.
Revolutionizing legacy T&E processes delivers game-changing visibility, efficiency, and cost savings. For finance teams ready to reimagine spend management, today's software makes it easier than ever to leap into automation.
Follow our blueprint for change management, stakeholder alignment, and technology evaluation to successfully modernize expense reporting. Partnering with the right technology and services providers accelerates and derisks the journey to spend automation.