4 Ways Automated Workflows Speed up Expense Reimbursement
What does the expense reimbursement process look like within your company?
In most cases, employees have to have their receipt, fill out an expense report for each individual purchase, submit the report(s), then wait (sometimes weeks) to receive their reimbursement.
It's a tedious process that most employees complain about on end. But it doesn't have to be that way.
Creating automated expense workflows can help to speed up the expense reimbursement process tenfold, making your employees happier, and increasing efficiency for your company.
Here are 4 ways your company can use workflow software in their expense reimbursement process.
1. Ditch the paper forms.
Stop making your employees spend hours upon hours filling out paper forms for company expenses, just so they can be rightfully reimbursed.
Instead, move to an online expense claim form that your employees can easily fill out and submit digitally, right from their desk or where they're at on the go.
2. Include receipt upload.
Reimbursement is typically contingent on submitting a receipt, and an employee is simply out of luck if they happen to lose it. Because this can be frustrating for employees, why not make it easier, and allow them to snap a photo of their receipt as soon as they get it.
Then they can easily upload their receipt into their digital form and be on their merry way.
3. Approve more quickly.
When your company receives these digitally, you're able to go through and approve them more efficiently. You can set your forms up to automatically email submissions to the people who need to approve these expenses and be input into a spreadsheet.
Having this information in a spreadsheet can be much easier. It allows those in charge of expense approval to go in each day, approve or deny new expenses, input their name so the company knows who managed it, and quickly send an approval or denial response to the employee.
4. Reimburse more quickly.
Once an approval has gone through, an automation can be set up that sends it to the accounting department, and the money can be put back into employees' wallets sooner than before.
Manual reimbursement processes can take weeks for an employee to be reimbursed. When it comes to large work expenses, this can be tough on the employee when they have to wait long periods of time to see that money go back into their pocket.
Put together an automated workflow that allows employees to see their approved reimbursements more quickly. Set up direct deposit, consider using company credit cards, and more.
Don't let your employees wait weeks on end before they see their reimbursement. Putting together workflows that allow them to more quickly and easily submit expense reports will help to streamline the entire process and make it move more smoothly for your employees and for your company.
How can I speed up reimbursement with automated workflows?
Creating a new form and putting together new automated processes and workflows can greatly help improve how things work at your company. We're all for it.
In fact, with our workflow software, you'll be able to easily revamp your entire expense reimbursement process into something that works better for both you and your employees. Watch the demo to learn more about how our software works so you can hit the ground running when you sign up.