As you read this, an employee in some part of the world is struggling to submit his expenses in order to get reimbursed. And his manager is having a miserable time going through a stack of expense reports that aren’t making her day any better. Finally, an accounting department is waiting on employee expense reports to close the books.
The expense reporting ritual has been the bane of many organizations. The frustration and lost productivity due to expense reporting is draining. Employees come back from business trips tired and tapped with action items from the trip – completing their expense reports is the furthest thing from their minds. After procrastinating for months, inevitably, the envelopes of receipts they saved from the trip are less than comprehensive, and they are unable to fully and accurately complete their reports.
Managers have an equal disdain for expense reports. Managers know they are the gatekeeper for reimbursements and feel the pressure from anxious employees to complete them. Yet, carving out several hours a week to review and approve expense reports is several hours they don’t have.
At Zoho, we have always taken pleasure in automating tiresome yet important business functions for our customers, including customer relationship management (CRM), customer support, email, and accounting. Yet, internally, we still struggled with expense reporting. Like many companies, expense reporting at Zoho has been a manual process – a tedious manual process at that. Expense reports are done on paper and collected in boxes. A dedicated team takes several days to cull through, approve, reject, or comment on each expense report. While the team uses a tool, the process has remained largely manual.
Out of our own necessity, and knowing that other companies are also suffering from expense report fatigue, we decided to build an expense management tool that would actually thrill businesses.
Introducing Zoho Expense, our latest accounting and finance application. Zoho Expense automates and simplifies expense reporting by eliminating needless data entry, speeds up report approvals, and seamlessly integrates with other business applications to increase cross-business function productivity.
Take a look at how Zoho Expense can take expense reporting from drudgery to delight in your company:
Absolutely Zero Data Entry
That’s right, Zoho Expense guarantees zero data entry when creating expenses. There’s no magic, just perfect automation.
1. Turn receipts to data – With auto scan, Zoho Expense automatically creates an expense entry every time you upload a receipt. All major details like receipt amount, vendor, date and other details are captured into the expense eliminating the need for manual data entry.
2. Sync credit card statements – Sync your credit cards with Zoho Expense, and it will collect all your credit card transactions daily. Once in Zoho Expense, each credit card transaction can easily be converted into an expense with a click of a button.
Effortless Expense Reports and Approvals
Select a group of expenses, create an expense report, and click “submit.” It’s that simple. Approving expense reports is also a cinch thanks to one-click approvals and rejections. Managers can view expense report details in one place, and they can communicate and collaborate directly from Zoho Expense, rather than through drawn-out email threads and phone calls.
Integrated with Zoho Books and Zoho CRM
Zoho Expense is elegantly integrated with Zoho Books and Zoho CRM. For sales reps using Zoho CRM, a user account is automatically created for them in Zoho Expense. The integration will soon allow reps to create and submit expense reports without leaving their CRM.
Accounting for expenses has never been easier with Zoho Expense. Business expenses created in Zoho Expense are seamlessly imported into Zoho Books, so the accounting team doesn’t have to re-key expense data or waste time on related end-of-period adjustments.
Additionally, accounting and finance organizations can set travel and expense policies such as fuel limits and spending limits to ensure employees comply with company policies. With reports on individual expenses and policy violations, Zoho Expense gives accounting and finance teams complete visibility and control over business expenditures.
Plans and Pricing
Zoho Expense offers a monthly plan of US $15 for 10 users per month. That works out to just $1.50 per month per user. You can add more users for $2 per user per month. You get all the features at one price. There is also an annual plan with a two month discount, priced at $150 for 10 users, and $20 every additional user per year. Mobile apps are available on iOS, Android, and Windows platforms for free.
You don’t have to start paying from day one. Try it free for 14 days before upgrading. Use Zoho Expense and manage expenses the easy way!