When reimbursing expenses manually, it can quickly become a hassle riddled with mistakes, particularly for businesses that are growing. This is where reimbursement management software can prove to be a lifesaver. The software fully automates the reimbursement process from submission to approval and payment so employers no longer have to rely on messy spreadsheets and employees have no wait time to be reimbursed. Everything is centralized and can be tracked easily.
One of the best parts of a reimbursement management software is speed. Employees upload their receipts and claims are submitted, and approval status notifications are aware in real-time. Manager's can approve expenses while on the go, and the finance team is no longer digesting weeks of paperwork. The reimbursement management software even helps businesses enforce policy compliance using checks that flag out-of-policy claims.
The results? Happier employees, faster reimbursements nad less hassle for both HR and finance teams. Although it's true that there may be a small learning curve in getting started, the freedom and transparency that reimbursement management software provides are worth it!