Beruflich Dokumente
Kultur Dokumente
2012
8
Reasons
To
Switch
From
Spreadsheets
To
An
Automated
Expense
Management
System
Whitepaper
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2
Save Time
Making the transition from a manual expense process to an automated system will save employees, managers and accountants a great deal of time. As discussed previously, the manual process for completing an expense report and the reimbursement process can often take months. With the use of an automated system, the process can take minutes to complete. The amount of time saved using an automated system is represented in numerous ways. The biggest time saving feature of automation, and the feature that brings the highest employee satisfaction, are shorter employee reimbursement periods. A study released by the Aberdeen Group in May 2010 reported companies that integrated with an automated expense reporting tool found a 28% shorter employee reimbursement period. The decreased time in the approval process comes with the nature of an automated and online-based solution. Once an employee submits an expense report online, the manager is sent an email notifying them of an outstanding report and can quickly review and approve the expense report and submit this for reimbursement. The second largest time saving benefit of an automated solution is the actual time it takes to create an expense report. With the use of a mobile phone device, employees can begin drafting their expense report as soon as they receive their first receipt. With Certify, it takes an average user 20 minutes or less to complete and submit an expense report, a reported 45% decrease in time spent on expense reporting*.
AverageTime Spent Creating An Expense Report Before & After Using Certify
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3
Save Money
Saving corporate dollars is one of the largest benefits of using an expense management solution. According to a survey conducted by American Express, companies can spend as much as $64 processing a single expense report. The cost per expense report is determined by the time spent creating, approving and reimbursing the report, as well as the cost to print and mail the report to the appropriate personnel. The obvious money saving benefit of an automated solution is the decrease in time spent on the actual report. With a faster approval workflow process the employees can allocate their time and resources in other ways, therefore increasing productivity and saving the company money. Also, with a web-based system, the need for printing and shipping a report is no longer necessary. The employee can submit an expense report and receive managers approval within minutes from their personal computers or mobile phone devices. Although decreasing the resources spent to process a single report is important, the greatest money savings come from the increase in policy compliance and financial control managers gain. In a manual setting, a T&E policy may be in place but the ability to control and enforce it is vastly more difficult as violations are left to be determined by the approver. With an automated system such as Certify, when an employee reports an expense out of policy both the employee and the manager will be notified of the violation. This brings policy violations to the managers attention immediately, decreasing the number of policy violations upward of 20%. With the various money saving benefits of an automated system, companies who implemented the software spend an average of $7.17 per single expense report, compared to $64 per report for those without an expense management system.
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4
Not
at
all
Much
less
Same
as
before
More
57%
of
Certify
clients
made
the
switch
from
a
manual
process
to
eliminate
the
use
of
Spreadsheets
39%
5%
2%
| Certify
5
6
|
Certify
7
|
Certify
About Certify Certify, LLC, is an online travel and expense management company that provides expense report and travel booking solutions to corporations and individuals. The company provides a true SaaS on-demand travel and expense management solution which is easy to use, quick to deploy and affordably priced for clients of all sizes. Founded in 2008, and headquartered in Portland, Maine, Certify is financed by the founding team and a group of angel investors. For more information about Certify please call 207.773.6100 or visit http://www.Certify.com. References *Statistics were complied based on a client survey Certify distributed to all account managers. Clients were asked a series of 10 questions relating to expense management and their experience with Certify. The survey was conducted in February of 2012 with respondents from 80 companies with users both nationally and internationally. 1. Christopher J. Dwyerm Aberdeen Group, March 2011. Expense Management for a New Decade.
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