Why tracking expenses and that too travel expenses is essential for companies having remote field employees? There are several reasons that call for efficient expense management in an organization.
As an employer, firstly you need information on how your business is doing. Tracking field employee travel expenses, profit, and revenue helps you know the financial health of your business. Secondly, all these inputs need to be documented, as proper records are required for auditing and tax return purpose.
In today’s tech-savvy market, there are a plenty of good Travel expense management apps & mobile software available that help you understand how to manage business expenses by simplifying the process of tracking and record keeping of expenses. When your employees are on move most of the time, it is not easy to take down things on paper and keep paper receipts till the time of submission of claims. That is why it becomes more important to provide them with such user- friendly business expense tracker apps that speed up submitting and claiming travel expenses, and also help in managing travel expenses and expense reports.
Below is the list of top 6 mobile apps that are helping small businesses in travel expense management, and are also recommended as top expense management apps for travel:
Tripit is a very useful business expense tracker app that allows business travelers to keep track of their trip plans and arrangements at one place. This app also provides weather updates and directions to makes traveling so very easy and hassle-free.
Managing traveling and expenses alongside can be a tough task. Expensify, a travel and expense management app keeps track of business expenses and mileage, where users can also upload travel expense receipts with the click of a button.
4Cliqs, a new generation field force management tool for dynamic Sales/Service team, helps streamline the expense management system by offering an easy and simple way to report daily activities and expenses. The claims are authenticated through pictures of expense receipts.
This helps managers in employee travel and expense management, easy approval of the claims, that too on daily basis. Approvals or rejections are immediately notified to the employees for any adjustments and resubmission. Employees are elated and motivated as they channelize their energies to their core tasks, and use their time effectively to achieve targets and eventually organizational goals.
Happay, is another business expense tracker app that enables remote employees to submit, approve and verify expense reports in seconds, both through web or mobile.
Trip Expense Manager creates a shortcut to access trip details, manage multiple expenses and split expenses between employees. It is one of the unique app to track employee expenses.
It helps manage travel and expenses on the go by tracking mileage, and time through GPS on the phone. It also covers all basics included tax reports and is worth a look.
These business expense tracker apps help employees stay productive and save their time throughout the expense management process. The automated expense reports can be directly integrated with accounting software removing the possibility of approval of unnecessary or duplicate expenses.
Also, expenses incurred by an employee add to cost to the company so proper maintenance of these records and their periodic review is a must to calculate employee productivity. It also helps in tax calculation and planning the budget which is very much required for better travel and expense management.