What Is Expense Management Software?
Every business, big or small, requires an effective solution for managing expenses. A well-built expense management system should enable electronic submission, approvals, processing and storage. It should eliminate paper waste with the ability of uploading digital receipts or photos of paper copies. Built-in Expense Groups and Cost Codes for proper allocation at the time of submission is also key to reducing time and accounting mistakes. Expense management software should neatly organize and store expenses records and enable various reporting tools and auditing techniques. The most effective expense management software is cloud based, accessible from anywhere through a secure user login.