Reporting and approving expenses can be difficult on a regular day at work. If you’re sitting at home and working, it can become even more complicated. Here are two tips that will simplify things.
Sara Palm Dahlblom is responsible for business support at Eurocard. She believes that a company can make life easier for its employees with relatively simple methods.
-With good routines and the right tools, expense management can be done very smoothly and you can save many hours of work as a result.
Here are a couple of tips from Sara that solve some of the most common challenges she hears from her customers.
1: "It’s too complicated to report paper receipts"
“We agree with that – and our report, which we’ve done together with the Royal Institute of Technology in Stockholm, shows that it can take up to 55 minutes for a company to handle a single expense. The fact that it takes so long is often due to the manual handling of paper receipts.”
Solution: Digitize your expense management
“Businesses that don’t use an expense management system can digitize their expense management with the help of the Eurocard Pro app, which has easy-to-use functions for every step of the process”, says Sara Palm Dahlblom.
For example, an employee can gain significantly better control over their own expenses and avoid reporting paper receipts by:
- Taking a photo of the paper receipt with the scanning function in Eurocard Pro after a purchase. The receipt is then immediately paired with the right transaction in the app.
- The information is then easily sent to the person approving the expense. Everything happens in the app - no paperwork is needed.
2: "It’s difficult to get an overview of expenses, and there are too many errors in the expense reports"
“Receipts are missing, manual expense reports are incorrect and many expense reports must be approved at the last minute. As a result, managers and administrators lose control of the company's expenses and have to spend time finding receipts and completing expense reports.”
Solution: Get a digital overview of all expenses
The Expense Manager is a web-based service where information on all the company's card purchases is collected and updated in real time. This allows managers and administrators to access the Expense Manager at any time and:
- See which expenses are reported and which expenses are coming in.
- Categorize and approve expense reports
- Easily send approved reports to the company’s financial system.
The Expense Manager is part of the Eurocard Pro app and the transactions are paired with the correct receipts in the app before arriving in the Expense Manager.