Managing Your Cash Flow

Expenses system for business
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Ever sent a Valentine’s card to your expenses system?

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Expenses are generally regarded as a mundane and menial chore, something nobody particularly loves, or even likes. The time consuming and fiddly nature of an expenses system is a source of pain and frustration for both employers and employees.

So why do so many companies remain in this kind of dysfunctional relationship? Why do each turn a blind eye to something that annoys workers and frustrates finance teams?

In the past, there were no real alternatives to the traditional paper-based ways of doing things. But with the emergence of digital expenses system options, we now have a way of working with the power to be loved rather than hated.

And for companies that are making the switch, the process of trying to find the right digital provider can seem uncomfortably similar to dating. It’s the same kind of search for a perfect partner – a smart, friendly and dependable provider.

As an experiment to gauge just how intractable attitudes to expenses are, webexpenses  carried out a survey, asking respondents a simple question: do you love or hate expenses? The results weren’t what you might expect.

Rather than universal hatred, more than a third were happy to identify themselves as expense “lovers”. And of the “haters”, 75 per cent were also users of old paper-based systems.

The findings support previous research by webexpenses. A 2016 study, carried out by censuswide, found the main annoyance for 33 per cent of expense claimants was the hassle of handling paper receipts.

So while this may only be a simple snapshot, it does suggest that digital technology really does have the power to transform attitudes, to start moving us away from those business attitudes of yesteryear.

It’s something that inspires webexpenses to keep searching for innovative ways to challenge and change our views towards the expected expenses system – to replace that loathing with something closer to love.

To create systems and support structures that don’t just save a business time and money but are actually enjoyable to use – for both claimants and the finance professionals who manage and monitor them.

So what are the main qualities a business should look out for when it’s searching for that perfect expenses partner? Here’s a quick guide.

Compatibility

For a strong and lasting relationship, you need a partner who understands and can adapt to your company’s specific needs. Each business is different and the old “one-size-fits-all” attitude towards an expenses system is no longer appropriate.

With webexpenses, the system was built from the ground up to provide the kind of flexibility that’s required to adapt to meet the specific needs of each and every organisation – from small startups to global corporations.

Care and support

It’s easy to get bamboozled by feature lists and technical specs but these don’t count for much unless it’s matched by great customer support. A business needs peace of mind that any problems it faces will be fixed and resolved.

For webexpenses this has meant a commitment to “exceed expectations” when it comes to support. It’s a guiding ethos which has helped the company establish a 98 per cent client retention rate.

Pain-free processes

The main advantage of a digital expenses system is the move from slow and cumbersome paper-based ways of working to fast and automated digital processes. A good provider will make the best use of today’s technology to create a fast, efficient and simple to use system.

Webexpenses uses a smartphone app to allow employees to manage their expenses on the go. Companies which move from paper-based systems can expect to reduce processing times by 25 per cent.

Seamless experience

While it may not be the most important aspect of a relationship, looks do matter. The best providers will pay special attention to the user experience. improving the look and feel of using the expenses system.

At webexpenses this is a continual process with customer feedback used to target and remove any pain points. It has guided the design to create a crisp, clean layout and user interface.

Shared goals

When you choose an expenses system provider, it’s like setting out on a journey together. For a solid and long-lasting relationship, it’s important that you’re both heading in exactly the same direction.

From day one, webexpenses has remained committed to a simple goal: to make expenses simple. To help companies save time and money with a simple and hassle-free way of manage employee expenses.

So if your business is enduring a horrible relationship with expenses – there is help out there. You don’t have to grimly soldier on with a way of working that’s universally disliked throughout your organisation, which is the cause of so much frustration and pain.

By finding the right provider and making the switch to a digital management system, your business will not only save time and money, but can start to experience some strange feelings towards expenses. Instead of something that’s reviled, they can start to be something that’s liked – or even loved.

Learn more about about webexpenses, the smarter way to manage expenses.

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