Here's a universally accepted fact: no one enjoys filing business expenses. There are no exceptions to this rule. Not only is this task mind-numbingly dull, but it is also super time-consuming. This reluctance ultimately leads to delays in your accounting cycles.
What if there was a way in which your employees could reduce the hours they spend reporting business expenses to mere minutes? That's what happens when you automate your expense reporting process.
Intelligent Expense Tracking
With Fyle, employees can easily track expenses from within apps they use daily. Fyle is built within standard productivity tools like Gmail, Outlook, and Slack. All employees have to do is click a single button, and Fyle does the rest.
And there's more! With native Android and iOS apps, Fyle allows you to scan paper receipts using a mobile camera quickly. Our intelligent OCR technology then quickly extracts expense data from the receipt and stores it for you. You can also upload bills stored on your computer, cloud storage, and phone gallery to track business expenses.
Automated Expense Reporting with Fyle
Now, we've overcome the first step in managing expenses - tracking all business expenses right from the time of spend. The next logical step is to submit these reports for approval. Here’s how you can automate this step with Fyle.
Fyle allows users to automate this task. All they need to do is set up a cadence, and the app automatically pushes submitted expenses for approval.
Users can set up tasks easily from the Fyle web app. Go to Settings -> Profile -> Task Automation. Users can then choose which task they would like to automate. In this case, auto-submit expenses.
The next step is to set conditions under which expenses get submitted automatically. For example, if all travel expenses under $100 are to be auto-submitted, specify these conditions.
The final step is to specify the frequency in which expenses are to be reported. Users can choose a daily, weekly, or monthly cadence and also set how often the task is to repeat. You can create multiple functions as shown for different conditions.
Once you click on 'Automate Task,' all expenses that fall under the specified conditions will be automatically submitted for approval in the set frequency, allowing employees to submit expenses right on time.
Another aspect that you can automate with Fyle is recurring expenses. Say a user regularly pays $120 for a software subscription every month, they can specify recurrences for these expenses, and Fyle will automatically create those expenses without any manual intervention.
Automation does not mean a loss of control!
With most expense management software, users and accounting professionals fear the loss of control over crucial financial information. But with Fyle, users have complete control over all business expenses.
Expenses that are submitted can be easily found under the 'Expenses' tab. Users can quickly find expenses by the date created, date of spend, or amount. Or they can do a quick search to see the actual expense.
Users can then edit, delete or modify the expense as they see fit before manually or automatically reporting it.
Embrace Automation with Fyle
When Fyle says we automate your expense reporting process, we mean it! Providing a seamless employee experience takes the first priority, and that's why we are obsessed with ensuring that users spend the least amount of time reporting expenses. Schedule a demo with Fyle to learn how business expense management can become a breeze for your organization.