No one expected a pandemic, nor did employees imagine spending up to 100% of their work hours from home. If most of your staff is working remotely or transitioning to a hybrid ecosystem, then how does everyone submit expense reports? Performance business management software should give your business the ability to easily manage your company’s finances. Customizable mobile solutions that integrate with your existing processes give you the power to be “the boss of your own money” with mobile expense reporting.
Companies need flexible solutions that are first-class and secure, especially since the world has changed between 2019 and 2021. Acumatica Financial Management offers a way forward, delivering Advanced Expense Management Software, with cloud and on-premises solutions and core functionality. It provides expense report options unique to your company and whatever scope is necessary. ERP cloud software is perfect for SMBs, large multinationals and everything in between.
“Old-school” reconciliation of receipts, logged manually, is a thing of the past. Acumatica Cloud ERP offers a way to expedite expense reports. Its is designed to process expenses using Artificial Intelligence (AI) and machine learning (ML) that streamline and automate reporting and compensation. Managing mobile expenses using cloud ERP takes the pressure off of people to find every little paper receipt.
There are a number of tangible, agile benefits to the cloud ERP approach to mobile expense reporting:
- Management receives reports in real-time to manage overall expense budgets and spending
- Immediate reporting, ending the need to keep track of paper receipts
- The ability to automatically file one or multiple reports
- Reduction in the cost of reports
- Human error and multiple spreadsheets are taken out of the equation
- Every expense report can be tracked whether accepted or rejected
Acumatica integrates automatic mobile notifications for unrelated or unreported corporate credit card expenses. Companies can take advantage of automating their corporate card bank reconciliations and employee reimbursements. These potential processes are now built into the system. Cloud-based expense reporting with ERP also offers superior data security.
As workforces transition to greater rates of remote work, mobile-friendly cloud ERP software provides businesses with a modern method of managing expenses. The new options are far different from legacy accounting software, which had too many siloed departmental input steps. Acumatica Cloud ERP software will manage all sorts of expenses which must be accounted for, whether travel, mileage, supplies, data from home, or hardware and devices. Any work-from-home expenses that would have required paper receipts can now be seamlessly processed using AI mobile expense reporting on an app and scanned with a camera.
The app will then manage the date of expense, total amount in the proper currency, expense type, location and anything else customized within the software. The app will attach a photo of the receipt and verify expense classification. The process of submitting expenses eliminates time and stress. Physical receipts are now unnecessary. The app will “learn” through ML and AI will do the work that was once cumbersome and prone to human error.
Businesses are increasingly relying on Advanced Expense Management within their Acumatica cloud ERP software. Cloud-based mobile expense reporting is a welcome solution for everyone involved. Now expense management is easy, streamlined and not a chore. To learn more, contact us for a demo of Acumatica Advanced Expense Management.