Expense management software evaluation

Modern Travel and Expense Management with Fyle

March 14, 2019
|
6
Min Read
No items found.

In this Article

Historically, employee expense management has always been a time-consuming and disdained task, and for obvious reasons. Manually filing expenses, saving, collating, categorizing paper receipts, manually creating expense reports, submitting them to an approver, and then wondering about its status or constantly irking the Admin for it; you get the gist.

Manual expense management process costs organizations a loss that often goes unrecognized. Employees spend their crucial productive hours stuck with expense reporting to get their money reimbursed than tending to other daunting business tasks. The wave of change was pretty evident.

With the cloud-era came the expense management software. What was the pain-point they were solving?

The automated processes which never required human intervention and effort, in the first place! In the process, they also eliminate the chances of fraud, increase compliance, as well as employee satisfaction.

But, here’s the catch - the way we manage expenses today has changed dramatically since the first expense management software released. But no existing software seems to be paying attention to it.

At Fyle, we walk hand-in-hand with this change. In a nutshell, we understand that travel expense management is no more about just a few receipts and reports. It now demands to be real-time, automated, and omnipresent where employees spend money.

SUGGESTED READS:
Top challenges a travel and expense management software helps solve

5 Benefits of using a cloud based expense management software

Reimagining travel expense management with Fyle

If you look closely, Expense Management Software is no more a standalone requirement, i.e., they aren’t just expected to manage expenses. Today, Expense Management software is also required to provide additional support for multiple pillars like trip requests, corporate credit cards, and cash advances that don’t cater to traditional processes of expense management.

These reasons build a strong case for any expense management software to facilitate the following within their product, if not more.

  • Manage all expenses automatically
  • Manage advances
  • Manage expenses on-the-go or while on a trip
  • Accessible through all modern channels
  • Mobile
  • Email
  • Web
  • Easily transform physical to digital
  • Manage the entire process of pre-accounting
  • Be audit-ready, at all times
modern-expense-management-software

At Fyle, we aim to provide a seamless expense management experience to all our users. It’s one of the reasons we’ve always been up to date about how expense management processes have changed. As a step towards keeping up with our users and expense management, we’re excited to introduce ‘Trips.’

The above reasons were a driving factor in why we built ‘Trips’ but along the way, we found ‘Trips’ could be a lot more. The following became our key focal points:

  • Streamline travel requisition by enabling pre-trip authorization
  • Coordinate booking of transport and stay for the trips via an in-house travel desk
  • Incorporate advances taken for trips
automated-expense-management

The ‘Trips’ module in Fyle takes care of your employee's entire travel schedule. Be it transportation, stay, advances and even special requests, we've got you covered. Your employees just have to raise a trip request and choose if they need additional booking with their trips. Travel admins are automatically notified about this. They can then fulfill the request themselves or assign it to travel agents.

Once travel agents complete the booking process, they can automatically generate non-reimbursable expenses on the employee’s behalf. End-users can also continue to add expenses from their trips. Once all the receipts and reports are in place, the “Trip” is marked “closed.”

employee- travel-expense-management-software

Love the sound of it already? Schedule a demo with us and learn more about Fyle magic! 

expense-software


Expense management software evaluation

Modern Travel and Expense Management with Fyle

March 14, 2019
|
6
Min Read

Historically, employee expense management has always been a time-consuming and disdained task, and for obvious reasons. Manually filing expenses, saving, collating, categorizing paper receipts, manually creating expense reports, submitting them to an approver, and then wondering about its status or constantly irking the Admin for it; you get the gist.

Manual expense management process costs organizations a loss that often goes unrecognized. Employees spend their crucial productive hours stuck with expense reporting to get their money reimbursed than tending to other daunting business tasks. The wave of change was pretty evident.

With the cloud-era came the expense management software. What was the pain-point they were solving?

The automated processes which never required human intervention and effort, in the first place! In the process, they also eliminate the chances of fraud, increase compliance, as well as employee satisfaction.

But, here’s the catch - the way we manage expenses today has changed dramatically since the first expense management software released. But no existing software seems to be paying attention to it.

At Fyle, we walk hand-in-hand with this change. In a nutshell, we understand that travel expense management is no more about just a few receipts and reports. It now demands to be real-time, automated, and omnipresent where employees spend money.

SUGGESTED READS:
Top challenges a travel and expense management software helps solve

5 Benefits of using a cloud based expense management software

Reimagining travel expense management with Fyle

If you look closely, Expense Management Software is no more a standalone requirement, i.e., they aren’t just expected to manage expenses. Today, Expense Management software is also required to provide additional support for multiple pillars like trip requests, corporate credit cards, and cash advances that don’t cater to traditional processes of expense management.

These reasons build a strong case for any expense management software to facilitate the following within their product, if not more.

  • Manage all expenses automatically
  • Manage advances
  • Manage expenses on-the-go or while on a trip
  • Accessible through all modern channels
  • Mobile
  • Email
  • Web
  • Easily transform physical to digital
  • Manage the entire process of pre-accounting
  • Be audit-ready, at all times
modern-expense-management-software

At Fyle, we aim to provide a seamless expense management experience to all our users. It’s one of the reasons we’ve always been up to date about how expense management processes have changed. As a step towards keeping up with our users and expense management, we’re excited to introduce ‘Trips.’

The above reasons were a driving factor in why we built ‘Trips’ but along the way, we found ‘Trips’ could be a lot more. The following became our key focal points:

  • Streamline travel requisition by enabling pre-trip authorization
  • Coordinate booking of transport and stay for the trips via an in-house travel desk
  • Incorporate advances taken for trips
automated-expense-management

The ‘Trips’ module in Fyle takes care of your employee's entire travel schedule. Be it transportation, stay, advances and even special requests, we've got you covered. Your employees just have to raise a trip request and choose if they need additional booking with their trips. Travel admins are automatically notified about this. They can then fulfill the request themselves or assign it to travel agents.

Once travel agents complete the booking process, they can automatically generate non-reimbursable expenses on the employee’s behalf. End-users can also continue to add expenses from their trips. Once all the receipts and reports are in place, the “Trip” is marked “closed.”

employee- travel-expense-management-software

Love the sound of it already? Schedule a demo with us and learn more about Fyle magic! 

expense-software


Effortless expense management for all business spends. Earned time, saved costs, improved productivity, happy employees - achieve it all with a single software.

Stay updated with Fyle by signing up for our newsletter

Thank you! Your subscription has been received!
Oops! Something went wrong while submitting the form.

Features to support all your expense management needs