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When It Comes to Expense Reporting, Manufacturers Should Go Paperless


When It Comes to Expense Reporting, Manufacturers Should Go Paperless : This blog post is part of a series on T&E best practices for manufacturing companies. You can check out a free eBook on the topic here.

Imagine a world in which you don’t have to wait four weeks for paper receipts, input them painstakingly through a manual system, and then have your employees wait even longer for reimbursement.

According to a study conducted by Certify, 27% of enterprise companies and 44% of mid-market companies are still using manual systems for expense reporting.

Here are different ways manufacturing company leaders can integrate field staff-friendly systems and relieve headaches for everyone:

Adopt paperless, instant software

Going paperless means faster reports, less processing time, and faster reimbursement time. Both finance teams and employees on the road directly benefit from evolving to a paperless system.

Capture receipts with a smartphone camera

It’s easy for employees to misplace a receipt while on the road. Look for expense reporting software that allows for receipt capture with a smartphone camera, so employees can capture receipts immediately and not worry about losing or misplacing them.

Track mileage on Google Maps

Find expense management software that allows employees to track their mileage through Google Maps. This feature allows finance teams to control fraud, in case employees log extra miles to receive additional money.

Create expense reports on mobile

Manufacturing companies should look for software with a mobile app that enables their employees who are on the go and not always near a computer. Take VitaPlus, for example, an agricultural food manufacturer that now reimburses employees 14 days sooner after switching to Certify.

Control spend with virtual cards

Virtual cards allow employees access to a company card without actually needing the physical card itself. Financial administrators can create and fund virtual cards on demand, which are accessible through a mobile app.

Streamline purchasing and punch out

Manufacturing organisations have to source supplies from new partners when supply disruptions occur. With manual expense reporting handled in separate systems, there’s no way to keep track of new requisitions and partners.

Finance teams can have more control and oversight with a single purchase requisition system. Switching to an automated system also gives employees peace of mind, knowing their purchasing from an approved vendor won’t be out of policy compliance later.

To find out more, attend a free demo

Manufacturing & Engineering Magazine | The Home of Manufacturing Industry News

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