Is the task of expense management slowing down your employees?
Expense management starts when employees submit expense reports and end with employee reimbursements. The entire expense management process can take-up time and push everyone involved to do mundane work. This is where an Office 365 expense report comes into play.
A powerful tool such as Office 365 can help organizations reach their goals of improving and streamlining their business processes. In this article, we will talk about why Office 365 users require an email add-on. We will also talk about how you can boost productivity with the right expense management software.
How to create an expense report in under 5 minutes
The need for outlook plugins for Office 365 users
In today’s world, a significant portion of your business happens online. Whether you’re booking a flight, commuting, or purchasing software, these expenses are made online. These expense receipts invariably, then land in your mailbox. This makes your mailbox more of a receipt bank.
In Microsoft’s April quarterly report, CEO Satya Nadella mentioned the current number of Office 365 users. He said that,
“Office 365 commercial now has 180 million users.”
The last number reported in November 2018 was 155 million. This marked a monthly gain of 4.16 million. That’s a rapid and rising number of Office 365 users!
With the growing base of Office 365 users, expense management software has now come up with solutions such as email add-ons to make use of email receipts. This makes creating, reporting, and submitting of expense as easy as 1-2-3.
Boost productivity for Office 365 users with the right expense management software
Expense management tools were built to eliminate or minimize the manual expense reporting processes. Today most software comes with features such as receipts scanners that help ease the entire process of receipt management. But it still requires some sort of manual data entry (the same can be said about web-clippers used for taking screenshots of emails too.)
Since mailboxes have become a home for your receipts, expense management software, have noticed the trend and adapted to it. Today, AI-powered expense management software can securely sit in your mailbox without invading your privacy.
A good cloud-based expense management platform should ideally::
- Automate expense management using AI technology
- Extract expense data from any receipt sitting in the mailbox
- Ensure the policy engine detects policy violations
Here’s a video of how employees can effortlessly report business expenses via Outlook:
The email add-on is available on both desktop and mobile app, users can submit their expenses and create expense reports with one click.
Features of Fyle’s Office 365 add-on
Here’s how Fyle’s email add-on can help streamline your business:
- Report expenses directly from your Outlook mailbox- With this feature, you can report business expenses directly from your inbox. With just a click, all necessary data (date, time, amount, category, etc.) get extracted automatically. This decreases the chances of human error or bias.
- Real-time policy checks- Policies can be hard to remember especially when dealing with several line items. With Fyle all expense claims run through real-time policy-checks for duplicate, fraudulent, or out-of-policy expenses. This decreases policy violations and increases employee compliance.
- Secure email plugin- Our email add-on does not invade your privacy or look into your emails without permission. It only scans and extracts data from only the mails which have been opened and clicked for reporting. This ensures that your information is always safe.
How can your business leverage an Office 365 expense report?
As with all companies and employees, everyone is looking for a solution that cuts out the mundane while adding a layer of security and objectivity to everything else that remains.
For Office 365 users, the burden of expense management diminishes drastically with the introduction of email add-ons. With a smooth beginning, the entire procedure can run with better efficiency throughout its course. Email add-ons incorporated in an employee’s mailbox do just that. Employees with an Office 365 expense report can do all of this and more in just a few minutes.
With greater accuracy and timely reporting, factoring in of zero errors and violations, email add-ons give a good head start to the expense management process. The finance team can also approve expense reports faster, the turnaround time for employee reimbursements decrease and more.
Curious to know if it is as simple as it sounds? Schedule a demo today to see the magic of Fyle’s email add-ons for Office 365 users!