Employee expense tracking software tools can help companies track and manage employee expenses more effectively and efficiently. Whether tracking expenses related to business travel, entertainment, or other business-related expenses, the best software options can provide all the tools you need to make expense tracking a breeze.
Expense tracking software often includes features like employee reporting, expense categorization and receipt capture to simplify expense reports for your employees’ sake and your company as a whole. Often software will include expense policy enforcement and reimbursement processing, to ensure that employees are compensated for what they should be and not compensated where they shouldn’t be. Many solutions are also available as mobile apps, allowing employees to submit expenses from anywhere and at any time.
Employee expense tracking software can help companies streamline their expense management process, while reducing errors and fraud. Saving you both time and money, you can view and manage employee expenses with greater transparency and accuracy.
However, when it comes to employee expense tracking, not just any software will do. You want to be sure that your program is reliable and offers all the tools you need at your disposal. We’ve researched some of the best and most popular products out there to help you get started. Read on to learn more about some of the best employee expense reporting software options and what they can do for you.
Zoho Expense is a terrific option for growing businesses, helping them to streamline company travel by fully automating expense reporting and giving them a greater control over spending. And it’s already being utilized and endorsed by some of the most trusted businesses around the world, including Puma, Transcom and Samsonite.
The software’s easy-to-use interface gives you access to everything you need for managing employee expenses efficiently and cost-effectively. Zoho’s software makes for both employees reporting, and those on the management side of things, ensuring that the process of approval and reimbursement goes as smoothly as possible. Purchase requests and payments are all streamlined through Zoho Expense.
You can also manage company cards, getting feeds directly from your credit card provider, as you reconcile expenses and card transactions. Simplify approvals by setting up a system of hierarchal approvals, while customizing multi-level approvals, or in the event of violations, initiating expense auditing.
In terms of corporate travel, Zoho Expense offers you everything you need to manage travel online or offline, along with detailed analytics that keep you informed throughout the process. Track miles, manage itineraries and share ticket options with employees. You can even configure travel policies to suit your company’s needs.
Concur can help you gain even greater control of spending from anywhere, right at your fingertips. Automate and manage the spending process from literally anywhere through your computer, laptop or mobile device.
Concur allows employees to conveniently submit expenses from anywhere. You can also automate and integrate your accounts payable processes to control spending and reduce your risk of fraud. Concur will ensure that there’s an increase in compliance through its purchase request and invoice capture system. Conveniently monitor all expenses at any given timeframe to make smarter business decisions.
Concur will help you save time too, and not just through the use of applications. Concur utilizes machine learning to automate process and reduce human error, while also requiring a lot less data entry on your end. Make effective decisions based on data and manage cash flow. You can even integrate your software, securely, with payment providers.
SAP Concur is used by thousands of notable businesses including ADP, the American Red Cross, Bridgestone, IBM and General Mills, among others. And while their tools are fairly easy-to-use, customer service is available to help you around the clock, should you run into any trouble.
Expensify is easily one of the most popular employee expense tracking software options. Through its receipt scanning, expense tracking and reporting, managing your company travel and business expense budget has never been easier.
From corporate card management to receipt scanning, Expensify can automatically extract data to reduce the need and labor of manual entry. When integrated with your bank and credit accounts, the software will automatically import and categorize any transactions. Bill tracking, expense approval and reimbursement processing are additional features offered by Expensify.
Like Concur, Expensify is available for desktop and mobile platforms. There are both free and paid plans but you may find the free version limiting depending on your business, as the free version only allows up to 25 scans per month. Meanwhile, the paid plans come with unlimited scanning.
Conclusion
If you are looking for employee expense tracking software, any one of the options above can help you automate the process to make it easier for everyone in your company. It can also eliminate human error and potential fraud in your company through its advanced processing and reporting tools. Try any one of the top options and see for yourself!
