The most important resource for any company is the time of their employees. For employees in leadership positions, the scarcity of time becomes a pressing problem because they need to carefully evaluate different factors to take strategic decisions that’ll take their company forward. It would be a criminal waste of their time for them to be involved in doing busy-work such as filing their expenses.
This is why they’ve always had their Executive Admins, who take care of all their logistics to ensure that the executives have all the time they need to take their company to greater heights.
Even while using Fyle, they’ve been handing over their account passwords to their executive admins to take care of their reimbursements. This can be risky because:
It exposes opportunities for misuse and eventually fraud.
There’s no way to check who has filed for reimbursement.
The lack of transparency makes auditing cumbersome.
We’ve recognised that this is not an optimal workflow through our own analysis, and also because we’ve had customers come up and ask for a solution to this problem. Executives were not comfortable handing over passwords - everyone knows that sharing passwords, in any context, can be very risky.
Delegating authority, with accountability
Our latest update allows executive assistants (or delegatees) to log in with their own accounts, and claim expenses on behalf of their executives. They can also approve expenses, and pretty much do everything that their executives can do. Now here’s the interesting bit.
There’s an audit trail for everything. For all the actions they take, the finance team can see that they’ve been taken by the admin on behalf of the executive. They can also see the trail of edits made to any field, so there’s complete transparency into who’s doing what.
This makes for a secure and transparent reimbursement process - something that every Finance and Accounting team has been rooting for.
The roadmap for Fyle’s development has always been guided by giving our users the best experience possible, and we think this new update is a step closer to our North Star.
Will this feature come in handy for you? Or are there more functionalities you wish it had? Write to us at email@example.com. Our inboxes lie in wait.
If you’ve not used Fyle yet, here’s your shot at a free trial.