Have You Seriously Considered Automating Your Expenses Reporting?

Posted In | Finance | Accounting Software

Keeping track of employee expenses is critical for controlling your cash flow. Employees that travel for work regularly will need to submit expense reports and follow travel policies in order to be reimbursed. It is important to reimburse your employees properly for whatever expenses they make as well as to manage your cash flow. But is a tedious task for multiple departments as well as employees to streamline this process and often a time-consuming job. 

 

 

Inaccurate claims, imprecise policies, and even fraud are all concerns that organizations confront when it comes to expense reporting. How can you simplify the cost reporting process and make reimbursement easy for employees? How do you maintain accurate compliance in place to prevent fraud?

 

You've come to the perfect place if you want to automate your expense reporting.

 

The Benefits of this Use Case

Expenses+HRMS+Accounting integration seamlessly automates the submission, approval, and recording of expense reports. Expense automation benefits businesses in effectively tracking expenses and complying with policies. This eliminates the need for paperwork and the time-consuming use of spreadsheets to file claims. It also allows you to quickly reimburse employees on time and keep better reporting. With this integration of expense management to HRMS, then to accounting, an employee can submit expense reports to the system, which are automatically routed to an approving manager for review and for a compliance check. Once approved, the report is then routed to his payroll for final approval and processing, then to the finance team for employee cos allocation that helps with better reporting of the expenses.

Other Benefits include:

1. No more paperwork

2. Complete automation of reporting and approval

3. Better Reporting of expenses and increased visibility

4. Precise compliance can be maintained by using automation tools.

5. Prevents expense fraud

 

Applications and Systems that need to be Integrated

Expenses+HRMS+Payroll+Accounting Integration can help streamline a company's financial operations. This can help reduce the amount of time and money spent on processing invoices, tracking employee expenses, and managing payroll. In addition, this type of integration can help improve the accuracy of financial reporting. 

 

How Gridlex’s Integrated App Suite Helps 

Gridlex’s Integrated App Suite allows you to streamline the most critical responsibilities, such as managing different expenses of employees, including expense submission, approvals, and expense reporting in one place. The integration eliminates the risk of entering data manually and engaging a lot of valuable time. With Gridlex's integrated apps, such as payroll and accounting, you can add employee expenses into the extra payments that are customized in the payroll and pay the employee.