Here are the nine top features your business expense app evaluation team should think about: If you have yet to implement a business expense tracking app, or are looking to change providers, it’s important to understand the available features and review the strengths and weaknesses of what is available in the market today. What Features Should a Business Expense Tracking App Have? You may also invite managers to automate approvals and reimbursement, or simply use it as a business expense tracker for tax purposes. Your team can capture receipts on-the-go and we’ll automatically scan them into expenses. TravelBank, for instance, offers an intuitive app that manages business expenses and travel needs. The technology then organizes the data and transforms it into reports that can be saved, sent for approvals, or analyzed by finance teams. Typically the tracking technology is available in both mobile and desktop versions, and enables employees to capture receipts and track expenses on-the-go. How Does an Expense Tracking App Work?Ī business expense tracking app allows for the upload of receipts, as well as expense and mileage recording.
Business expense tracking apps are reporting tools that assist in streamlining finances by simplifying expense documentation, receipt capture process, reporting, and approvals. However, finding a good business expense tracking app is hard! You need to consider what features are essential for your company, pricing, implementation, and ease of adoption across your organization. Fortunately, business expense tracking apps are available to not only make it easier for your employees, but also help improve visibility into company spend and can help reduce costs. While far from a walk in the park, making sure your team keeps track of receipts and expenditures, files expense reports in a timely manner, and properly allocates purchases is essential for accurate operations and budget forecasting. Staying on top of expenses and having visibility into corporate spend can be one of the biggest challenges to your business.
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