Benefits of using MyExpenses software

10 Benefits Of Switching To MyExpenses Expense Management Software

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest

There are so many benefits to be had from switching to MyExpenses software, from cost savings to employee productivity. Read on to find out more.

Benefits of using MyExpenses software

Enforce Policies

This is a very simple place to start. Employees are often unaware of their company’s expenses policy and therefore will claim regardless of the rules. Managers then need to filter out the out-of-policy claims, and sometimes claims will get through that shouldn’t.

With MyExpenses you can enforce rules and limits on categories to ensure compliance. When a claim reaches the manager for expense approval, you can be sure it is within the expense policy.

Cost Savings

There are numerous aspects of cost savings with MyExpenses. Improved accuracy in expense claims, maximising tax reclaim, reduced expenses fraud and no over-inflated mileage claims are to name a few. You can expect to see a high return on investment.

Tax Compliance

With MyExpenses, you can be sure of an accurate VAT reclaim, and supporting evidence. We can also offer a receipt validation service, where we check claims for VAT compliance for you. Our reporting tools also assist with P11D preparation.

Expense Claiming Time

Time savings are evident across the company.

For the claimant, an expense claim will take minutes and receipts can be photographed and thrown away at the time of purchase (to be submitted later). This can be done easily from the mobile app or online.

Managers can view and authorise or return expense claims with all the required information available to them.

The biggest saving on time is perhaps for the finance team. Clients have reported individual claim checking times being reduced from hours to minutes with the implementation of MyExpenses!

All of this means one thing… your employees will benefit from better productivity when saving time on expenses.

Audit Ready

No one likes an audit, but unfortunately, they do happen. This could be internal, or external (for example HMRC). MyExpenses ensures your expense claims are always “Audit Ready”, and your auditor will be satisfied that you have the system in place to manage compliance.

Spending Visibility

The extensive reporting options offered by MyExpenses will give you complete visibility over your expenses. Whether you want to see expenses by employee or cost centre, the tools are there to help you see where your spending is highest and lowest.

Employee Satisfaction

According to studies, 1 in 3 employees have experienced cash flow issues due to slow reimbursements from their employers for their business expenses. Implementing a system for quick and painless processing of expenses will make for happy employees.

Benefit from Our Experience

Point Progress have over 20 years experience, so you can let us do our jobs, while you focus on yours. You will benefit from the technical support of our award winning team, as well as the knowledge of our Projects team, who will be there to set your site up and assist with roll out.

Quick and Easy Implementation

We can easily integrate MyExpenses with all of your existing systems, and whilst Introducing new technology can be tricky, we are always on hand to help.

We have step by step guides for employees to submit expenses, as well as end-user support options if needed. We also offer remote or onsite training, and will work within your timescales to have your new system up and running as soon as possible.

Customer Support

Our award winning technical support team are continually praised by our clients for their friendly approach and technical knowledge. We also have dedicated account managers on hand to assist with non technical queries.

You can get started with a fully-featured 2 month trial of MyExpenses here.

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest

Leave a comment