Often the result of deploying one of these products is increased productivity and collaboration, reduced frequency of adversarial relationships, and measurable, significant cost savings. Doing this well means providing accurate expense reporting, adhering to company policy compliance and providing timely employee reimbursement. It must serve at least two masters: the finance department and the employee. The last thing you want to see is a bill for a new phone running your approved platform because the employee's initial device was not.īuilding a great SaaS expense reporting and tracking product is not easy. It's important to minimize employee learning curves so they will be up to speed on the new product with minimal brain damage and collateral costs. Next, take a look at the technology and accounting software your business is using and add this to your must-have business intelligence (BI) data. Use this information to create loose policies and rules based on location, your company averages and what you deem appropriate. This may sound like overkill but it will come into play if you need a multitier approval feature. What are those average expenses? Are they reasonable or do you think individuals are taking advantage? Create an organization map including the reporting/supervisory structure. Is it based in the United States? Does it do international business? What about the workforce? A good place to begin is with a thorough audit of how many employees in your company submit expenses for reimbursement including travel, business meals and even office supplies. Getting startedīefore you can choose a SaaS expense reporting software solution, you have to know your company. Why wait until you can't sleep? Open the expense books and find a solution now. The cloud, with its numerous expense reporting, tracking and management Software-as-a-Service (SaaS) products, makes controlling employee-originated business expenses much more attractive. The second option is the far easier choice.
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