Making Expense Tracking Easier for Companies With Multiple Locations

A girl tracking her expenses
Source: Every Dollar

Your employees are spread out all over a specific area and you are faced with the task of effectively maintaining an expense reporting process. Can you do it? Of course, you can. If you choose an expense management system that will work for you then you minimize the hassle. There are many companies that have employees spread out over a particular area and they often work in the public sector. Student services is an example of a public sector business that can involve having all of your employees stretched out across several locations, and these employees probably incur expenses no matter where they are located. Choosing to get an automated expense management system can go a long way toward streamlining your expense reimbursement process and can make tracking easier. 

If you are replacing an old pen and paper system with your new automated expense management system, then you will see an immediate savings to your back account. Employees who used to devote all of their time to monitor, review and approve various expenses can now work on projects that are more productive to the company itself. It will also eliminate the barrier that sometimes seems to separate the activities of your various locations. Having the same expense management system for all of your locations can do a lot to bring your branches together and help them to focus more toward a common goal. 

Often times companies who have many locations or who travel a lot with their work have many vehicles that are used for business trips, and their mileage should be thoroughly monitored. By doing this you will eliminate many costs associated with traveling for business. With your new system you should be able to enter mileage placed on a vehicle during a business trip. This will allow it to be easily tracked and simplify the reimbursement process. 

You can usually hire an outside firm and outsource the upkeep of an automated spend management system. This will make it easier to implement a process like this for your business. There is usually a network located no matter where your employees are located, so they should have access to the internet. Training on the new system can be given simply by requiring employees to take an online training course. The users can learn how to use the system and understand it after just a few minutes of their time. One of the most beneficial things of having an automated expense management system is that it can collect a large amount of data on the spending habits of your employees. This can help you when you are trying to make important business decisions, such as the opening of new locations or the consolidation of existing locations. 

Having an expense management system can really lessen the burden on your employees, especially the IT department. When your employees are used to the new system they will love the way they are accurately and rapidly reimbursed for their expenses. This is something important to consider for your company.