Did you know low employee productivity can cost companies more than $500 billion a year collectively?
Several factors play a role in reduced productivity, from disengagement to operational problems. One of the most overlooked reasons is the burden of paper receipts after business travel.
Receipt management is more crucial than you think. Not only do paper receipts add to operational costs, but they take precious time away from both employees and managers. That's time that could be spent generating more sales.
Fortunately, you don't have to deal with traditional paper receipts anymore. Mobile receipt management is saving companies time, money, and employee turnover. Let's take a closer look at the benefits of mobile receipt management on employee efficiency.
Managers have more time to lead
Managers need time and resources to be effective leaders. This is essential for maintaining employee morale and reducing conflict. One way to give managers more time is to switch to mobile receipt management.
Mobile receipt management is essential for small business managers who must account for the day's sales. Instead of handling and processing dozens of paper receipts, managers can depend on their mobile receipt software for accurate reporting.
Employees also don't have to worry about losing paper receipts since digital receipts are sent directly to their email. This helps both employees and managers in seamless expense reporting and approval.
Improve receipt tracking for employees on the road
One area where mobile receipt management software is especially useful is travel.
More than 42% of employees worldwide are expected to be entirely mobile by 2022. Meaning, employees will be working more exclusively from wirelessly connected computers, smartphones, and tablets.
- For employees on the road, managing paper expense receipts takes precious time from away from work.
- With mobile receipt management softwares, employees can scan their receipts and send them directly to the accounting department for approval.
- Furthermore, companies are better able to track employees' mileage on company time.
- Today's mobile expense management tools have built-in mileage trackers for more accurate reporting.
- Mobile itemized expense management also prevents employees from overcharging companies on food, lodging, and mileage.
- Receipt management apps also give employees more time in the day to do their jobs effectively. This encourages accountability, which is vital for productivity.
Improve your accounting department’s efficiency and productivity
Mid-level to enterprise-level businesses rely on competent accounting departments to accurately report expenses and payroll. Traditional receipt management systems leave too much room for error, whereas mobile receipt software improves accuracy and processing times.
With mobile receipt management, company accountants can also access spending trends and identify risks, which are critical for budgeting. Enterprise mobile receipt management softwares are built for scale. So expanding companies' accounting won't skip a beat.
Most importantly, mobile receipt management is extremely secure, as compared to traditional paper receipt management. This enhances privacy protection for companies, employees, and customers.
Discover the benefits of a mobile receipt management software
Don't let your workflows and processes to become a roadblock to achieving business goals. Enable your employees to reach their full potential by streamlining and easing out redundant processes. This allows them to believe you are employee-centric. It also works as a morale booster.
What your employees need after a hard day at work is to feel appreciated — not to visit piled up paperwork. Don't pay the costs of poor productivity. Improve employee output and effectiveness by switching to a new mobile receipt management system.