Top 5 Benefits of Mileage Reimbursement Software

While your time-honored, manual mileage reimbursement processes may have served you and your organization well in the past, we’re living in a whole new era of technology. With self-driving cars and plans for manned missions to Mars, it might be time to upgrade your processes.

Paper has its place, but automating your mileage reimbursement processes with a software solution will rocket your organization straight into the 21st century. Don’t believe us? For the skeptics, we’ve compiled the top five ways mileage reimbursement software can give your organization a much-needed boost.

1. Save Time

One of the major drawbacks of manual mileage reimbursement processes is that ‘manual’ often becomes synonymous with ‘slow.’ Forcing your busy, mobile employees to keep a paper log of their work-related travel or requiring them to painstakingly record and subtract odometer readings to calculate mileage totals takes valuable time away from what they should be focusing on: their jobs.

The right mileage reimbursement software automates the entire process—from submitting reports to processing them and distributing payment—saving precious time for mobile employees and management. Instead of manual approval, reimbursements flow through customizable digital workflows, significantly increasing efficiency.

2. Save Money

“Time is money” is a cliché for a reason! The amount of time saved by automating processes previously the responsibility of your very human employees translates into savings that will not go unnoticed by your financial department. But beyond that, the efficiency introduced by mileage reimbursement software will aid your pocketbook in another huge way: report accuracy.

Unlike human calculations and workflows, which are prone to errors, mileage reimbursement software digitizes the entire process—from logging trip mileage to calculating reimbursement. By reducing the chances of mistakes like ineligible mileage claims, inflated entries, or duplicate submissions, more efficient and accurate mileage reimbursement will help your organization save money in the long run.

3. Stay Compliant

Any business committed to staying in business for any length of time knows how important it is to maintain compliance with all IRS rules and regulations around mileage reporting and reimbursement. Mileage reimbursement software makes compliance a breeze, optimizing mileage logs to include all necessary information for IRS-compliant mileage recording. The best reimbursement software solutions also centralize and store all relevant trip and log data, so it’ll be easy and efficient to prove an audit trail should the IRS audit your organization.

4. Revolutionize Reporting

Not only does reimbursement automation make reporting easier, faster, and more accurate, it can also help provide vital data about your organization. Unlike with slow, manual processes, mileage expense reporting software provides data feedback on employee reports almost in real time. Automation makes it easier than ever to review reports, spotting trends in employee behavior and reporting. Reimbursement software also makes it possible to automatically flag possibly concerning behavior, like duplicate reporting, making it less likely for noncompliant or fraudulent reporting to fall through the cracks. 

5. Enhance Employee Retention

Employees are the lifeblood of any organization, and introducing automation won’t change that. In fact, it benefits them, too. Reimbursement software frees them from the toils of paper logs and manual mileage reporting, all while making the process significantly easier and more intuitive—after all, how many of your mobile employees don’t own or know how to operate a smartphone at this point? 

Additionally, faster, more accurate, and more efficient reimbursement processes mean quicker payments, which is always a plus for employees. By improving the reimbursement process, you’re not just saving time and money—you’re enhancing employee satisfaction and retention.

CompanyMileage Does It All

Sometimes, the past belongs in the past so you can embrace the future. If your organization is still using outdated methods of logging, calculating, and reimbursing mileage for your mobile employees, it’s time to upgrade to CompanyMileage! Our mileage reimbursement software automates every step of the process, from mileage logging to reimbursement payments.

Instead of making employees keep handwritten logs or calculate mileage themselves, our SureMobile app makes it easy and intuitive for employees to quickly enter important trip data while on the go. CompanyMileage’s SureMileage software takes that data and uses it to calculate the best route for reimbursement. Once employees submit expense reports from their phones, those reports move through a customizable approval workflow. From there, our software integrates with all major accounting and approval software for equally seamless reimbursement payments. 

CompanyMileage and our mileage reimbursement software has been known to save our clients 20-30% on reimbursement costs. To find out more about how, contact us for a demo today!