It still shocks me that there are businesses out there that are using pretty archaic methods of corporate expense management. And it’s not just the odd one or two – there are so many businesses, big and small, managing their expenses manually.
Some friends of mine told me recently that they still have a manual expense process. They staple receipts to an expense claim spreadsheet, guess at some confusing code numbers, wait a week for their boss to sign it off and then pop it in the internal post to Finance! It’s always been this way and nothing has ever changed.
And I heard on the news the other day that the House of Lords in the UK didn’t even require members to submit receipts along with their expense claims. Well, I know that they are supposed to be upstanding members of society but there’s only so far that kind of trust goes. Clearly.
Given that we have so many other sophisticated business systems and automated processes, why does anyone stand for this paper shuffling with their expenses? How do people know so little about expense management and seem so confused about where to start?
I wonder if these businesses even realise that they are missing a trick. Not just in saving staff and managers time and money but in the increased efficiency and reporting accuracy in Finance.
The good news is that expense management doesn’t have to be difficult. Getting the process automated can be really simple. You just need to know where to start and to find the right expense management solution.
I know that my stapler is gathering dust at the bottom of a drawer these days.