Does any of this sound familiar to you or other finance and accounting functions at your small business?
I want more time to focus on strategy and growing the business, but I’m bogged down by manual work like managing expenses.
Employee reimbursement takes too long, but we’re moving as fast as we can to compile, review, approve, and reimburse expenses.
I’m tired of worrying that I’ve missed something when reviewing expenses that may be out of policy and reconciling that data with our accounting systems.
If so, you’re not alone. Forty-nine percent of companies rely on manual expense management processes that can lead to any (or all) of the above challenges.
Expense report software can help. The right solution can automate your workflows, freeing finance and accounting to focus on the big picture with:
- Increased visibility for better decision making backed by data
- Increased control over expenses, removing human errors and out-of-compliance expenses
- Lower costs and reduced time spent on expense management — no more manual work
To help you with the search, we’ve created this guide: The small business’s guide to finding expense reporting software
Here’s how this resource will help you find the best software for your small business.
Calculating costs of expense report software
The guide walks through the benchmark costs for manual expense management, and management via a solution. It also walks through calculation for figuring out what your ROI would look like:
(Monthly Savings – Business Cost to Process Expense Reports) /
(Business Cost to Process Expense Reports)
Evaluating your current process
Before starting the search for a solution, you need to look internally. What are your current concerns about your expense management process? The guide walks through the process of identifying what you need to solve for, and what you need a solution to help with. For example, here are few questions to get you thinking — more can be found in the guide:
- Are expenses getting stuck in the review process?
- Do you need to automate the expense workflow of credit card transactions?
- After reviewing expenses do you manually categorize and enter them into your accounting software–QuickBooks Online or Desktop, Sage Intacct, Oracle NetSuite?
Features and capabilities to look for
It’s important to understand what features your small business needs most, how they’re best implemented, and how they work in a solution. Our guide walks you through the features to look for.
It’s finally time to evaluate and select the best expense report software for your small business! We’ve included a handy toolkit with ready-to-use resources for the process, such as worksheets and suggested questions to ask.
Download the buyer’s guide to finding expense report software here. And if you’d like to see how using Tallie’s expense report solution would automate your workflows, start a free trial today. Tallie has transformed the way small businesses manage expenses: 91% of customers say it’s easier to reimburse employees with Tallie, while 93% have said they’ve saided time with Tallie.