Travel and Expense management has been the Achilles’ heel for organizations since time immemorial. The reason for this is the large number of sub-processes included in this right from trip request to the final reimbursement of the employees. Each process is cumbersome and requires the involvement of various departments.
The pain points are endless. Imagine having to save your paper receipts to avail your reimbursement, or to fill out endless forms at the workplace while you’re already lagging behind on work. For the finance Department, this process does not provide much help. Imagine having to process tens of thousands of expense lines by tallying each expense against eligibility and the consequent GST tax on that particular expense. Employees start to realize that their wallets have more receipts than bills!
Imagine being in the shoes of a manager who has project deadlines to meet! One can only speculate the disdain manually reviewing all the expense reports would cause him/her. Not only is the current Travel and expense practice time consuming, it is also expensive. Capital is lost on the time being wasted by the Departments involved in this procedure, the number of employees being hired solely for the purpose of processing expense reports and the frequent case in which the employee is unable to submit an expense report before the requisite deadline. Imagine the money that can be lost by not having real time visibility of expenses by any of your employees who are away on a business trip.
Ease My Expense is an automated Cloud Solution to simplify and streamline the cumbersome Travel and Expense Management practices that exist in organizations. The whole process involves personnel from multiple departments all of whose valuable man-hours are wasted away doing something adds little or no value to the organization. It helps you create easy reports, request trips to managers easily and eliminates the need for filling out long and error-prone Excel sheets. It eliminates the need to preserve your receipts till the end of the month and helps you manage your budgets in real-time. It provides managers with an insight by using analytics to calculate expenses by all categories imaginable, including managing your project budgets live.
Ease My Expense automates the various aspects of travel and expense reimbursement in an organization with the utmost perfection. We use automation with the following features to ‘Ease Your Expense’.
What really makes Ease My Expense stand apart from other similar solutions in the market are the unique geotagging and GST Integration features. They provide insight to the Managers or Finance Department of the organization. You can analyse travel and expense by expense category, country, department, project and individual. GST Integration keeps a separate account for GST and helps you calculate GST deficit significantly quickly by entering the vendor’s GST number.
Errors on expense reports (incorrect codes, amounts, etc.) account for 28% of the organizations looking to automate their T&E practices. 32% Organizations feel the need to reduce expense report processing costs. Even though 79% organizations have an active T&E Management Policy in place, implementation has always been a head-scratching problem. More than 76% reimbursements take more than 3 days. 45% of the employees fail to submit their expense reports on time.
Most people are moving towards automation. It’s time to cash in on the future!