A comprehensive study, which includes 235 organisations in the Nordic region, shows that companies generally spend copious amounts of time on processing receipts, and that in most cases they are unaware of the time they waste by processing them manually.

The good news is that there is a wealth of digital tools and solutions on the market that can help companies save time and money while motivating employees. The following are three examples of the possibilities of this approach:

Save 12½ minutes per receipt

With smart digital receipts, the processing time per receipt can be reduced by as much as 12½ minutes, while enabling smooth and rapid receipt processing. The study shows that an organisation can save a full working day for every 275 receipts processed.

Reduce the risk of receipt processing errors to zero percent

Processing paper receipts increases the risk of fraud and encumbers company efforts to ensure legal and regulatory compliance. This is because paper receipts can be lost, destroyed or incorrectly recorded, for example if they are poorly scanned. Digital receipts make it virtually impossible for receipts to be lost or destroyed before they are authorised.

190 percent more motivated employees

The study shows a 190-percent increase in employee satisfaction when employees can process receipts digitally compared with staff who have to process paper receipts. Another way to increase satisfaction and reduce stress among employees is for them to use a corporate credit card for which the company assumes the credit risk; in other words, it is ultimately liable for payment.

Read more about these three benefits in the study here.

About the study:

The study was conducted by United Minds in collaboration with Eurocard from April – May 2021. The respondent group consisted of 235 organisations spread over a wide variety of industries and company sizes in Denmark, Finland, Norway and Sweden.