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Jan 26, 2022

How to Kill Expense Reports in 5 Easy Steps

Rich Beattie

Technology & InnovationReturn to blog

Expense reports aren’t just relics—they’re actually costing your company unnecessary time and money.

Think about it:

  • Employees have to save, track, and label receipts; submit them with some cryptic form; then wait (and wait) for reimbursement.
  • Finance teams have to spend days reconciling the reports by manually matching receipts to expenses and sometimes chasing down employees (and their managers) for explanations.
  • Finance leaders have to wait (and wait) for that reconciliation to see what’s been spent.

Traditional expense reporting may get the job done, but it’s exhausting. And slow. And open to inaccuracies. And fraud.

There’s a better way.

Download the TripActions guide “5 Steps to Kill the Expense Report” now.

Modern corporate card and expense management solutions turn every weakness and inefficiency of the traditional process upside down, streamlining it for everyone.

That begins with policy. A modern solution like TripActions Liquid builds a proactive policy into the system so that each expense is automatically checked against the policy. Yes, it’s likely that every department and/or level of employee has different policies to abide by. That’s why a modern system lets finance teams tailor policies to specific departments. Or titles. Or every single employee.

The result: The system recognizes out-of-policy spend before it happens and prevents the charge from going through. All of that chasing by the finance team disappears.

And that’s just one example of how a modern solution eliminates busywork and streamlines processes.

What are the rest? Download the TripActions guide “5 Steps to Kill the Expense Report” now.

At a time when companies are on the hook to cut costs and find efficiencies, modern solutions offer a path to get there, because:

  • Employees can skip the ancient practice of manually filling out and submitting expense reports.
  • Finance teams avoid slogging through the busy work of manual reconciliation, cutting time spent by up to 95%.
  • Finance leaders get real-time insights into where spend is right now—not weeks from now.

And what will everyone do with all of this information and free time? How about focusing on growing the business? Sounds more productive than busywork.

Make 2022 the year your company eliminates expense reports: Download the TripActions guide “5 Steps to Kill the Expense Report” now.

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