All over the modern workplace, paper-based manual processes are being replaced with simpler, faster, more accurate electronic ones. When it comes to the reimbursement process, the question to be asked is simple: Does the electronic solution address old problems and anticipate new ones?
In the reimbursement as with so many things, the key to automation is approach. It’s not the automation that solves the problem, it’s the approach. Here are three problems often cited as damaging to the reimbursement process:
Problem 1: Lost receipts and paperwork
Anyone who has ever lost the receipt for a big client dinner knows how much businesses used to rely on those little scraps of paper. Think that’s changed? A recent survey of companies about the travel and expense management practices found that half of those surveyed – and 70 percent of the smaller ones – rely on manual processes. The biggest problem, respondents said, was the loss of paper receipts.
Problem 2: Mileage padding and fraud
A mile here and a trip there add up. There are estimates that billions of dollars are lost each year in fraudulent travel and expense reimbursements. The problem goes beyond the usual expense report padding. There is an element of subjectivity in the typical department-manager-approval system, which already lacks the necessary oversight and monitoring.
Problem 3: Delays in reimbursement
Now more than ever, organizations are challenged with retaining top-performing employees. Many in the workforce today are sensitive to perceived slights by their employer. One obvious source of unnecessary irritation is a delay in reimbursement. In the employee’s mind, their money has been spent on something that benefits the company. They want to be repaid quickly.
Reimbursement process improvement begins with a better system.
The key to improving the reimbursement process is to adopt a secure and accurate system for employees to track their mileage reimbursement expenses. SureMileage from CompanyMileage is an easy-to-use web-based platform through which employees can enter their schedule, not their mileage driven. It saves employees time and their employers money by virtually eliminating inflated mileage estimates. SureMileage also helps supervisors keep track of employee schedules and time management.
Also from CompanyMileage is SureExpense, the first expense management solution designed for every aspect of business. Employees have a simple and quick way to enter and track expenses. Managers get easy expense reports and payment processing. They also get a straightforward multi-level approval process that reduces the time from submission to mileage reimbursement processing. SureExpense’s reporting and analytics can be customized and exported in multiple formats.
With SureMobile, SureMileage and SureExpense have hit the road in a mobile-friendly, secure format. SureMobile lets users record trips and expenses for processing and reimbursement. They can submit, view, edit, resubmit and delete trips and expenses. In the available Address Books, they can create, view, edit and delete the addresses from which mileage is calculated.
CompanyMileage addresses the pain points of the reimbursement process, saving clients an average of 25 percent. Implementation is quick, easy, and yes, pain-free.