How a claims app increases productivity

Increasing productivity through a claims app is important for an organisation's success. You want to make the best use of your employees' time for tasks that achieve business goals. If a large part of their working day is spent on work that can easily be automated, this is a waste of time and money.
Consider also the situation where the finance team spends much of the month chasing employees for incomplete claims. Or is busy sorting receipts and checking transactions. In this way, the finance team itself cannot function optimally.
Consider also the situation where the finance team spends much of the month chasing employees for incomplete claims. Or is busy sorting receipts and checking transactions. In this way, the finance team itself cannot function optimally.
❯  Is it possible to automate spending?
❯  What are mobile claims apps?
❯  How to claim expenses through a mobile app?
❯  What benefits do mobile claims apps offer?
❯  What should you look out for in a mobile claims app?
❯  Choose the best app for your business

Is it possible to automate spending?

First, let's look at why you should automate expenses. When your employees pay business expenses out of pocket, you obviously need to reimburse them. With a corporate credit card or a prepaid card, that already reduces some of the paperwork.
If you issue passes to employees, you may be able to save time in the refund process because you already see the transaction details immediately. But that's not the end of it. As a company, you are required by law to account for expenses. For example:
1. You cannot reclaim VAT if you cannot prove that you paid it;
2. You cannot properly handle your income tax if you cannot prove that the expenses incurred were real business expenses.
So to account for your expenses, you need the receipt and a positive match with an actual transaction carried out. So in whatever way employees pay for business expenses, you will always need to collect this information. And, what better time to collect that information than right after the actual transaction? That's where a mobile expense claim app comes in handy.
With such an app, you keep track of receipts in the app and immediately account for expenses. Last but not least, employees get reimbursed for the amounts they have advanced out of their own pockets.
Many companies still seem to organise this in an old-fashioned way. And this at a time when we can order everything from groceries to taxis with a few clicks from our phones. This is precisely why mobile claims apps are rapidly gaining ground, helping to increase your organisation's productivity.

What are mobile claims apps?

Mobile expense claims apps allow employees to easily submit expense claims using their mobile phones. They can easily add the receipt, fill in a justification and send it for approval. This also ensures that they never miss out on a refund because they forgot the receipt or did not submit their claim.
The finance manager receives a notification after the claim and can check it and then make a decision on it. The app keeps track of everything clearly. The finance team can therefore process refunds quickly and check expenses in no time.

How can you claim expenses through a mobile app?

Mobile claim apps also help make accounting for expenses incurred with organisation payment cards simpler. Was the supermarket purchase made with the business debit card a personal or business expense? For example, the employee can upload the receipt showing that he bought items to replenish the office coffee.
Claiming expenses through an app is often very simple. Once a card transaction is completed, the cardholder photographs the receipt via the app and then fills in the justification. In the justification, you select the VAT rate and cost type to complete and submit the claim.

What benefits do mobile claims apps offer?

Employees also benefit from a mobile claims app. They don't have to worry about unrecovered advances or lost receipts. With an app, they have the flexibility to submit claims anytime, anywhere.
Finance managers have the advantage in this way that they can process expenses much faster. After all tasks have been completed, such as matching VAT rates, receipts and cost centres and types, they can move on to analysis more quickly. The app ensures that there is always a detailed overview, making audit work easier to carry out.
This gives better insight into the total expenses incurred by employees. It additionally shows where improvements are needed. Have an employee's fuel costs increased significantly compared to the previous month? Or do employees spend more than the estimated daily budget on travel?
When all this data is centralised and conveniently displayed, tracking business expenses becomes much easier. This allows finance managers to properly track all expenses without getting caught up in a mountain of paperwork.

What should you look out for in a mobile claims app?

Ideally, the chosen expense management solution will enable you to prepaid debit cards out to employees. Indeed, this promotes better insight into expenses and reduces instances where employees have to advance business expenses. Above all, you no longer have to manually match transactions with the correct receipts.
Of course, the app should be user-friendly for employees. The ability to take photos of receipts is a must. As is the option to be able to add justification. Preferably not just with your own description. It's best if you can use predefined labels corresponding to your expense types and places. In addition, the app should be able to link receipts to transactions so that there is no mismatch.
Data security must also be ensured. You are obliged, depending on the country, to keep records and receipts unchanged for 5 or 10 years. Imagine if an incident in your records meant that all receipts were lost. In most cases, a cloud-based management system would then be much safer than an old-fashioned archive.
When looking for a solution, you should also consider whether seamless integration with your accounting programme is possible. Some old expense apps only send a summary e-mail to the finance team. Nobody wants to enter all that manually into the accounting programme. So inquire in time about how data can be exchanged digitally.

Choose the best claims app for your business

There is certainly no shortage of expense claims apps. From simple expense tracking solutions to apps with numerous features that give users control over their payment cards. Choose one that brings the most value to your business. The app should help you gain better control over expenses and increase productivity across the organisation.
SimpledCard offers more functionality than most expense management solutions. It enables organisations to bank-independent payment cards issue to employees, teams or departments. The prepaid Maestro and Mastercard cards are accepted worldwide.
Finance managers can monitor budget and spending limits in real time. They can view receipts and justifications from a single dashboard. It is even possible to set specific rules for automatically replenishing budgets on payment cards. All this is done through the SimpledCard Card Management System which can be integrated directly into an ERP or accounting system.
For employees, the mobile claims app offers great flexibility. They can install the SimpledCard app on any smartphone and tablet to instantly access their transaction history. The app displays all the details of the assigned card and facilitates direct claim submission.
When employees make a payment via the SimpledCard card, they receive a push notification on their device. The employee can then photograph the receipt via the app. This is automatically linked to the transaction. He or she can then add the justification for the expense, select the VAT and cost type before submitting it.
The whole process is thus streamlined for everyone. This significantly increases the level of control and productivity of your employees during their working hours.
Let one of our experts show you SimpledCard's app and Card Management System. Book an initial consultation and determine together what the benefits are for your organisation and employees.