Manually tracking and managing expenses can be incredibly costly, yet the exact costs are often hidden.
First, manual processes take too much time. Expense reporting tasks you know all too well— creating spreadsheet formulas, consolidating piles of receipts, and the extensive reconciliation process—consume resources in a way that doesn’t appear on the company ledger. But as the saying goes, time is money.
Manual processes also limit insight into, and control of, your company's expense spend. Many companies are adopting automation to better manage expense policy compliance and identify other opportunities for savings.