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6 Reasons for Expense Management Automation for Kenyan Businesses

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6 Reasons for Expense Management Automation for Kenyan Businesses

6 reasons for expense management automation for Kenyan businesses today. Many businesses are still using excel spreadsheets,

Workpay
May 26, 2020
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May 26, 2020
8 min read
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6 Reasons for Expense Management Automation for Kenyan Businesses

6 reasons for expense management automation for Kenyan businesses today.  Many businesses are still using excel spreadsheets, paper receipts, and printed reports. Mainly to manage business expenses. This results in a lot of inaccuracy. As a business one has to manage expenses, they require a reliable system in place to collect, store, process and report these expenses easily. To manage and automate expenses means one has to eliminate all paperwork or spreadsheets.  Usually when dealing with expenses which allows one to process faster. That said, here are the reasons why one ought to automate how he or she manages expenses.

Reasons for Expense Management Automation for Kenyan Businesses

1. It helps save time

To manage and automate expenses saves time for all parties involved including people coming to claim items. With a digital system, employees can easily record claims and the finance team can process the claims immediately.

2. Eliminate risks of errors

Manual recording of expense is prone to errors. But with a way to automate and manage expenses for Kenyan businesses, it's easy for employees to enter original receipts into the system. Then the finance departments can approve their payment or refuse them.

3. Prevents expense fraud

Fake practices are likely to happen when expense records are submitted manually. Employees might decide to submit the same receipt twice. Following up can consume time and be expensive in the long run. With a way to automate and manage expenses, it’s easy to identify items that have been recorded twice.

4. Eliminates all paperwork

Manual export reporting leaves your employees exhausted because they have to deal with heaps of receipt at the end of the day. The finance team also has to go through tons of paperwork to verify and approve these expense reports.

A system to manage expenses comes to eliminate the need for paperwork.

Where employees can record and upload their receipts directly on the expense application using their mobile phones. This gives the finance team an easy time when sending salaries.

5. Speeds up the approval process

To repay takes time to be approved if expenses are managed manually. An automated system notifies you when there are expenses pending approvals. Approvals can be done via phone without going to the office as long as there is an internet connection.

6. Makes it visible and transparent

Every business wants to track money spent on daily operations. An automated system gives you real-time insights into expenses recorded, those approved, and those paid. This helps in the smooth operation of the business.

Lastly

To automate and manage expenses is a process that every business should explore. It helps employees record the right expenses and also generate receipt instantly. It also alerts them when approvals are complete. Interested in finding out more?

Read NOW! on How and why one should automate such processes in their payroll. And The digital invasion in human resource management, what are you missing out as a business and an employee?

Workpay
Workpay Africa

Workpay is a HR and Payroll software company that offers time & attendance, payroll, human resource, leave, expenses and remote teams solutions to businesses across Africa.

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