Top 5 Reasons to Stop Paper-Based Expense Reporting
It’s a fact–every business or organization will have to deal with expenses. And these expenses have to be recorded, reported, and processed. These have to be verified as well.
However, despite the times and technologies we have today, there are companies that still rely heavily on paper-based and manual expense reporting. Many employees may not complain as they are used to the way they have always done things. However, what they don’t know is that they may be missing out on so many things.
First of all, many companies now enjoy the ease and efficiency of having their expense reporting system automated and on the cloud, like the solution provided by Gorilla Expense. While these are inspiring and exciting success stories, not many are willing to make the switch and automate.
If you’re still one of those companies who rely on paper-based expense reporting take a look at these 5 reasons why you should stop with your current system and go paperless with automated systems like Gorilla Expense.
Top 5 Reasons to Automate Your Expense Reporting System
1. Cut human error as much as possible. While it’s still humans who are still responsible for inputting data into the system whether it’s already automated, having a paperless system cuts the incidence of human error significantly.
This said, even the most detail-oriented, most careful humans can make mistakes. They may misplace receipts, create duplicate entries, forget a decimal point, or simply enter something wrongly. Having a software such as Gorilla Expense to automate expense reports decreases errors especially when the system can alert users when any information is incorrect, duplicated, or are missing.
2. Automation speeds up and streamlines the workflow. Switching from paper-based to automated systems will significantly speed up the reporting and reimbursement processes. Employees and finance managers know full well how expense reporting can be a time-sink. Having automation in the equation speeds up the process. This takes out the frustration and hard feelings that happen with a very long process that can hurt employees when they had to spend their own money on behalf of the company, which is unavoidable.
3. Seamless integration and reconciliation. Software such as Gorilla Expense easily integrates with your existing accounting software, so there’s no need to do a major system overhaul which may prove to be costly and unrealistic for companies of every level. This also leaves less errors and mistakes, making the transition and adaptation to automation more smooth and seamless.
4. Save on paper and other resources. Aside from saving your employees from frustration and hard feelings, you also provide your company with big savings when it comes to resources such as time, energy, paper, and overall, money. When it comes to automating expenses, you don’t have to get so many printouts and papers, which may even eventually get lost somewhere in the reporting process. Aside from these savings, you also reduce your company’s carbon footprint, thereby helping in your social responsibility as a company.
5. Increased profitability for your business.
