The average (traditional) expense report takes more than an hour to do. Your company risks more policy violations if you’re asking employees to flip between spreadsheets and policy documents to get things right. ExpenseBot removes both obstacles with automatic expense reporting. Policy violations can be flagged and communicated to employees when they happen.
Admit it. You think of book-balancing and cash flow as a numbers game. We all do. But the key to getting those numbers right — particularly in the employee spending column — has more to do with words. Control comes with communication.
Paper receipts aren’t going away soon. That doesn’t mean they should end up on your desk. Receipts are, no doubt, central to any expense reporting process. But that confetti envelope of expense documentation spells trouble in at least two ways.
We’ve simplified ExpenseBot’s main navigation, organizing your experience around your most-used paths. Imported, manual and ignored transactions, for instance, live under Transactions. You’ll find Entities and Projects under Lists.
Most employees will read your spending policy for the first time immediately after they receive their first rejected expense reports. Out-of-pocket nickels and dimes don’t seem like much. But, unchecked, they can (and will) bust your T+E budget.
The back-and-forth of addressing violations isn’t a pal to your bottom line either. So, it’s time to put that spending policy to work! Here are six traits of spending policies that employees will follow.
Oh. No. We. Didn't. Actually, we did. Now everytime you upload a receipt to ExpenseBot we'll automatically scan it and add the details to the receipt record.
You asked for it, and we delivered! Now you can add multiple transactions from your credit card or bank account to an expense report at once with our new bulk expense functionality. Have a bunch of transactions that are... personal in nature? You can ignore all of them at once too!
The past few weeks have been a whirlwind here at ExpenseBot. Here's just some of what we've been up to:
Non-approval Users: If you're a hot-shot at your company and don't require approval, you can now submit expense reports directly to your finance team. FYI: We're totally jealous of you!
Multi-tier Approval Process: Some companies require that multiple people approve expense reports before reimbursement. Now administrators can easily establish hierarchical approval trees.
Customizable Contacts and Projects: We now allow administrators to require certain users' expenses to have contacts and/or projects attached to them. In addition, users can now be set to default a contact and/or project.
Whitelabel of Exports: If you are an accountant or controller you probably need to import the data that is created by Expensebot into your accounting system. Now you can use our whitelabel tool to match the CSV file to those titles required by your accounting platform.
Everyone knows that expense reporting sucks. The process is equivelant to a root canal. What's worse, there's a high likelihood that your company is doing a terrible job at managing expense reporting. In fact more than 70% of all companies still use spreadsheets for their expense management. Here's an exploration of all the unexpected benefits that your company will experience by switching to an updated expense reporting system.