The growth of a company's workforce is often accompanied by an increase in team expenses, which makes day-to-day management more complex. In order to accompany the development of companies and to help them better manage their expenses, many fintechs have launched themselves on the market of expense management software and offer fully digitalized solutions. Find out why you should use an accounts receivable management software in this article.
No more searching for expense reports in your wallet, running around looking for missing receipts, or typing last-minute data into an Excel workbook! With business expense management applications, your employees will simply take a picture of their receipt and it will be immediately integrated into the accounting system. This is why it is so important to use an accounts receivable management software.
On the accounting side, all transactions can be exported in one click for easy transmission to the accounting department. The expense management software can also be integrated with the company's accounting application to centralize all information. Information immediately transits from one department to another without intervention, saving valuable time for everyone in the company.
Greater team autonomy
Most market players offer business payment cards alongside their expense management service. By choosing a tool, this allows you to provide your teams with physical or virtual payment cards entirely dedicated to their business expenses, so they no longer have to advance personal funds. Set and change the payment limits on your employees' cards, receive notifications as soon as a payment is made, and view their spending in real time on your dashboard.
Reduce administrative tasks
Expense management software automates many tasks to simplify the day-to-day management of your business. For example, they offer the ability to schedule recurring payments, perform one-click bulk transfers, automatically dun employees if a receipt is not submitted and many other features.