Business trips are fun for most of the part — you get to grow your business, meet new people, face new challenges and lot more. But yet something makes these trips so dreadful. Yes, we are talking about those expense reports you have to make.
Saving those receipts, matching them with the right expense, making an excel sheet with all the details, submitting the report and doing it all over again while our accountants keep bugging us various times to provide them with receipts and details.
It also isn’t easy for our managers and accountants either. Our accountants have to go through the painful process of cross-checking all the expenses and manually entering them into their accounting software, whereas the managers have no control over the expenses made which often leads to over-spending and month-end surprises.
It’s more like a “Been there, Done that” moment for most of us.
It’s this tiring and never ending loop of expense reports which keeps us from doing our actual work- the work we love. These reports have often reduced our productivity at work. And mind it, we are taking all of you into account here, irrespective of your position at work.
We are living in a technologically dominated world, where the most basic work of unlocking our phones can be done in seconds without us having to do any work (Well, technically you do have to move your fingers or face ). It’s a world where everything can be done with a snap of our fingers. Then why on this god’s green earth are we still stuck with the same old grind?
How wonderful would it be, if all these expense reports could be done within seconds?
Or rather not required to be made at all!
We all would be able to work peacefully and be able to concentrate on our job rather than those bundles of receipts!
After all, that’s what we are supposed to be doing, isn’t it?
What we realized is, if this happens, it could really help increase the productivity of our employees.
So What if all your expenses could be saved directly and automatically categorized according to your needs?
What if you could control the amount of money spent by all your employees?
And how about not having to enter all the details manually to your accounting software?
Yes, it’s all possible. Just bear with us.
With Volopay, we want to solve the problem of expense management, with the aim of making expense reports digital, fast, inclusive and safe.
Volopay, the first AI-based real-time expense management software, is a business management solution that streamlines expense workflows and gives real-time visibility and control over business spends.
We are replacing spreadsheets, paper checks, and ‘reports’ with a 10-second expense creation flow, the easiest imaginable approval process, automatic bookkeeping sync, and the fastest reimbursement pay-outs direct to your bank.
You only have to snap the receipts and let the system work its magic. You’ll have ample of extra time to focus on the job you love rather than being buried in paperwork. It just takes 5 minutes to do the entire work with Volopay, as compared to the hours of work we all have been putting into these expense reports all these years.
How does it work?
Well, all you got to do is give our pre-loaded Volopay cards to your employees. They use those cards — suppose for all the expenses made on a business trip- they instantly get a notification to snap the receipt. The expense report is ready! They are also reminded of any policy violations before submitting the report. Give them free direct deposits to their bank accounts. It’s that easy!
You, on the other hand, can simultaneously track all the expenses in real time from your dashboard. The system learns based on how users are categorizing their expenses and reports so they don’t need to do the manual work. It learns from exceptions, to predict outliers, so you can easily detect fraud.
Our real-time AI software provides you with seamless options. From setting budgets limits and customizable approval flows to third-party integrations into your accounting software and other productivity tools. We have it all!
You can either do your expense reports the traditional way, or move hand in hand with technology and do it the Volopay way.
With Volopay we hope that we can solve the problem of expense management so that no attention is withdrawn from your core business and making expense reports digital, fast, inclusive and safe in the process.
The article is written by Disha Karamchandani, Volopay’s Product Analyst.
This story is published in Volopay Insights, where leaders from across the world come everyday to learn about being effective and productive at their organizations.
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