“There are now many digital solutions and tools on the market that help companies save time and money by digitising all or part of their expense management,” says Andreas Bremo, Head of Sales and Customer Relations at Eurocard.

However, many companies are still handling paper receipts as part of their expense management process, however, despite research showing that it takes significantly longer to process a paper receipt than a digital one*. There is also a risk of employees losing receipts or submitting the wrong ones, or of paper receipts being in such poor condition that it is impossible for the finance department to link them to the relevant purchases.

For companies that are tired of using paper receipts and want to work more efficient and digitally with receipt management, Andreas Bremo suggests doing the following two things:

Map out your current expense management process

“Start from the moment an employee incurs an expense, and then go through each step until the expense is booked. Are there any bottlenecks in this process? Which steps tend to take an unnecessarily long time, or cause irritation or uncertainty among employees? Also ask yourself whether there are any parts of this process that would benefit from being digitised.”

Find out which digital tools can help you

“Simply by using an app with technology for receiving receipts, instead of dealing with them manually, you can save several minutes per processed expense. And if you choose to digitise the entire expense management process, from purchase to accounting, you can save a lot of time, both as an individual employee and as a company. Talk to your card provider about what options are available to your company.”

*Link to the report: You don’t have to be smart – a report on digital receipts