An accountant’s office is mostly with paper, files, documents which tend to pile up over the years to colossal tons of weight. Over the years, outsourcing firms have leaned on technology solutions to get out of this impasse.
Current challenges faced in expense management:
Expense management has consistently been ranked as one of the top controllable expenditures for any company. Keeping track of client expenses is crucial to the bookkeeping process and more so when the function is outsourced.
There used to be days, where reams of paper, tons of files would need to be ticked, tagged, authorized, posted, and stored to be retrieved later. It could be a parking fee receipt of 10 Rupees, the process has to be amidst sign-offs, ticks, postings, payouts, and the whole works. Technology has given solutions to mundane expense management activity.
Guru Jana and Fyle integration:
Fyle and Guru Jana have partnered to offer a new standard of expense automation to companies who are looking to automate and streamline the expense reporting process. With the industry-leading data extraction system that eliminates manual work for employees and reduces the verification and payout time for accounting professionals, companies using Fyle have been able to reduce their cost of processing by over 100% and improve their turnaround time by 8x.
About Guru Jana
Guru Jana is a chartered accountancy firm headquartered in Bangalore and offices in Pune, Jaipur & Hyderabad. The 350-member team envisages to learn from tech firms.
Guru Jana is one of the progressive accounting firms in the country leveraging technology. With their technology-driven practice, they aim to strengthen internal controls, increase compliance levels, enhance data security and ease business processes.
Fyle is a B2B SaaS software that streamlines and automates employee reimbursement process using AI. Fyle helps save costs and improves productivity for employees by reducing manual data entry and making company expense policies easily enforceable.
If you’ve not used Fyle yet, here’s your shot at a free trial.