Choosing the right expense management software


1. Expense Management on the go

Expense management on the go is an absolute must. Whenever it suits you, you can report and authorise business and travel expenses via the MyExpenseZone app  or on the web.


2. Everything should be available in one place 

Simplicity is key and any expense management service should be comprehensive and easy to use with an end-to-end solution. This enables employees to handle all types of receipts, card purchases, subsistence allowances, entertainment and mileage all in the same service.  Approvers can also approve expenses in the same solution.


3. Easy to get started

It should be quick and easy to get started with your expense management software. The software should be easy enough for all employees to use without training.  MyExpenseZone allows for the simply activation of new user accounts along with the appropriate approval journey.


4. Automatic functions 

Your expense management software must contain automatic functions. This makes employees lives much easier and allows them to spend time on other tasks with generate revenue for your business. For example, the service should automatically read a receipt through OCR technology and populate the expense submission, including expense category, purchase date, purchase amount, VAT and currency.


5. Automatic compliance with local tax rules 

You should not have to administrate manual calculations or keep track of accounting rules. The country’s rules for allowance, mileage and entertainment should be automatically updated in the expense management service.  MyExpenseZone makes life easy with automatic updates to important rates and allowances.


6. Optimised for all roles

Your expense management software should be optimised for all roles. Whether it is the employee who reports expenses, the manager who authorises expenses and/or the finance/payroll department, your expense management software should be an end-to-end process and be easy and accessible for all those involved in the submission, approval and adminstration journey.


7. Full flexibility  

The service must be adaptable with a broad ecosystem of integrations, regardless of the banks, cards or accounting and payroll systems you have.


8. Room to grow

Be mindful that if your business grows, you should be able to add additional users to the service. If you have several companies, the service should also allow you to handle this with ease. MyExpenseZone provides the necessary access at organisation level to easily create and push out new user activations.


9. A dedicated customer service

The supplier must have a dedicated customer service with professional support technicians who handle cases quickly and efficiently via email, live chat or over the telephone.


10. A future proofed service 

Your expense management supplier must have the maturity and vision to continiously develop its service, ensuring that user satisfaction is a priority. This will give you future proofed product that can provide integrated solutions with other modern software systems.


We hope that this  blog has clearly outlined 10 things your expense management software must offer. For any further information about expense management, contact us today. 


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