Travel-Expense Accounting
Software that manages all employee expenses, such as travel costs, can optimize HR and finance department processes and achieve massive time savings for all employees. We recommend solutions that also offer the option of providing all or selected employees with a credit card for business expenses.
Challenges in travel expense accounting
Agile teams need simple and digital tools to work successfully. When managing employee expenses and travel costs, there are often delays in the reimbursement process and accounting struggles with missing or incorrect receipts.
In addition, administration is made more difficult by tax aspects, which is why the use of suitable software is advisable.
Advantages of digital travel expense accounting
A suitable software solution for employee expense management brings the following advantages for your company:
- Faster monthly closing: Finance has an overview of all expenses and
also, a direct means of communication should a receipt be missing or incorrect. - Faster reimbursement: With suitable software, reimbursement processes can be significantly shortened, which increases team satisfaction in the long term.
- Quickly implemented: Thanks to suitable and flexible integrations as well as various export formats and extensive onboarding support, leading solutions can be implemented within a few days.
- Flexible & configurable billing processes and the choice between reimbursement or credit card.
- Automatic allocation of receipts, cost centers and calculation of additional meal expenses.
- OCR scanner for the automatic extraction of receipt data.
With GoBD-tested software, you are on the safe side. With a GDPR-compliant and GoBD-certified solution, you don’t have to worry about legal certainty.
Optimized user experience: It must be as easy as possible for business travelers to submit their travel expenses. Modern solutions rely on a user experience that is optimized for mobile phones and well-thought-out from start to finish. This makes complex processes simple and self-explanatory.
Cloud storage: Business travelers can conveniently access their data in the software from anywhere and at any time. Make sure the data is hosted in Germany.
Employee empowerment through employee credit cards: Let your team pay for their own expenses — without long reimbursement processes.
High limits: With high credit and transaction limits, you can work flexibly and agilely.
Benefit from suitable providers such as VISA security standards.
As an admin, issue new virtual or physical credit cards for employees yourself and set individual limits.
Conclusion
Modern travel expense accounting software simplifies administrative processes and creates freedom in HR work that would otherwise be neglected. The previously common and labor-intensive “paperwork” is thus over.
In addition, employee satisfaction is increased by the timely and simple reimbursement of expenses – which contributes to employee retention, especially in times of a shortage of skilled workers.
HRNeeds is happy to help you find the right provider for digital travel expense accounting. With the help of our software comparison, we can find the solution that suits your requirements and give you a suitable recommendation. The whole thing is non-binding and free of charge. If you wish, you can also receive free expert advice.