Whether it’s an online startup or a full-fledged business organization, there will always be expenses. The scales may be different, but they’re there. And they have to be dealt with, sooner rather than later.
While there are companies that use Excel or expense management software for their expense reports, there are still many who rely on manual and paper-based reporting.
Paper-based reporting is quite old fashioned, but many would be adamant on how it has worked for them. This is largely why this system is prevalent and those who are used to it are not easily swayed to switch to automation.
However, with many advanced software and cloud-based apps that provide expense management solutions, such as Gorilla Expense, the need to automate is really just a step forward. After all, despite its familiarity, paper-based expense reporting is extremely slow, tedious, and not to mention frustrating.
Here are 6 reasons why you should ditch paper-based reporting and switch to solutions such as Gorilla Expense.
6 Reasons Why You Should Ditch Paper-Based Expense Reporting
- Paper-based expense reporting is error-prone. Let’s admit it. No matter how meticulous, humans can still make mistakes. And in business, a simple miscalculation can impact your company in big ways. Whether they’re tired, distracted, or simply forgetful, humans may forget to check receipts, lose files, enter information twice, or simple forget to report at all. Automating expense reporting with the help of a reliable, intuitive software allows you to make the process smoother, faster, and less prone to errors. You will get alerts for any errors so you can ensure that you don’t make mistakes in your reporting process.
- You have more control. As an administrator, or even any auditing party, you can benefit from ditching your paper-based reporting process. This is because automated software can allow you to have more control over the information you want to see, giving you full visibility. You can also set up policies and compliance guidelines that can easily be followed with the help of automated expense management solutions.
- Speed up your reimbursements. When you have employees who travel, or events where you spend, it’s important that the expense reporting process is smooth and quick. This will provide a win-win situation for both your company and your employees.
- Reconciliation is a breeze. If you already have an accounting software, expense reporting solutions such as Gorilla Expense can be integrated so that the process is simple, easy, and streamlined.
- Efficiency and productivity is increased. When things go smoothly in this department, you employees will then spend less time doing the tedious and manual work that can often be a source of frustration. The time they don’t spend hovering over receipts and expenses is time better spent on their core competencies. They therefore get things done faster.
- Go green and save paper. Automating expense reports means you use up less paper and other related resources, therefore making things more environment-friendly. You reduce your own company’s costs and you make less impact on the environment.
If you are still using a paper-based expense reporting system but are considering shifting to an intuitive solution, talk to us at Gorilla Expense.