The ongoing debate between expense software versus the manual paper receipt and spreadsheet process is growing increasingly lopsided as more and more evidence presents itself. The highlighting features of cloud-based expense reporting include money-saving benefits, like better accuracy, streamlined processing, faster turnaround and direct insight into spending habits of employees.
Now, a new survey by Runzheimer International®, found in its Total Employee Mobility Benchmarking Report, reveals that companies using expense software spend almost 41 percent less per traveler, per year, than companies using paper based reporting.
“The survey findings demonstrate the opportunity for companies that are not automating the travel expense process to reevaluate their expense reporting practices to ensure the right policies, processes, and investments maximize savings,” said President and CEO of Runzheimer International Greg Harper.
The discovery may come as surprise, but really it shouldn’t. Setting policies in place with employee expenses helps create structure, limits wasteful spending, and holds employees accountable when making business transactions. With Tallie, administrators can combat inflated spending with fully customizable company policy controls including spending allowances by user and department. Auto-generated expense reports, sent directly via email, also allow supervisors to review expenses item by item before submitting approval to accounting.
Even further, Tallie increases ROI with full automation of the expense report process. The ability to submit and approve expenses in the cloud improves accuracy and saves time, compared to manual data entry and approval process. Automated flagging of non-compliant expenses also provides improved submission velocity and data integrity.
But the question still looms, are companies using expense software tightening the spending allowance of their employees, or are employees just becoming more cognizant of their spending habits? Let us know your thoughts.
Read the full press release regarding the Total Employee Mobility Benchmarking Report.