When it comes to expense management, there are two sides to consider. 1. Businesses that want to protect their bottom line and 2. Employees that want faster reimbursement from expenses incurred. So, it’s surprising to discover that a recent YouGov survey found only 11% of UK workers use an app for their expense management.
Who’s making use of expense management in the UK?
In the UK, just over 32% of workers incur expenses in their role. This creates a large gap as only 11% of UK workers use an app for their expense management.
Mileage data claims first place for the most claimed expense type, along with receipts and entertainment. Surely logging miles and receipts is far easier and more convenient via an app? Especially when on the go.
Who uses an expense management app?
Whilst tech-savy professionals in IT and accounting do incur expenses, 35% of these UK workers still use basic spreadsheets for their expense management process. This is around twice as many workers compared to Nordic countries, creating plenty of room for improvement in the UK.
Growing with you
In the UK, not only do newer businesses tend to reach out for digital expense tools, but research also shows that as companies grow, so does their uptake of expense claims.
UK data also shows that the use of expense apps increases with company size. With just 4.6% of smaller businesses using an app versus 18.1% of larger companies. But are businesses aware than using an app for their expense management is always beneficial, even for smaller teams. Expenses can be submitted on the go along with expenses being reimbursed in just a few clicks, benefitting all teams, no matter how many team members there are.
All in one place
With MyExpenseZone, we are experts in expense management. Our app helps businesses of any size manage their expenses, mileage, per diems and entertainment all in one place. You can even integrate MyExpenseZone with your existing accounting solution.
If you would like to find out more about simplifying your expense management, contact us and we will be happy to help.