9 signs you should invest in a business expense management app

Is your business trying to tell you something about your expense management system? Are you ignoring the signs? Look at our list of nine questions (some of which are a little tongue in cheek), and you’ll get the serious message behind them, which is telling you that you need a small business expense management app…

Expense management is a bit like marriage that’s beginning to fail; it happens so slowly and imperceptibly that you don’t notice it at first. Thankfully, a poor expense management system is easier to put right than a rocky marriage. All you have to do is turn to business expense software for support. Ask yourself these nine questions…

1. Do you have a business expense management app? If the answer’s ‘no’ then it’s virtually a given that your expense management system isn’t as effective as it might be, and that’s costing you money. Look at it this way: Solo Expenses has satisfied customers in 90 countries. What do they know that you haven’t learned yet?

2. Do you want your business to be more profitable? Of course you do. But increasing profitability isn’t exclusively about chasing down more sales; it’s also about bringing costs under control. A small business expense management app for iOS will do that for you – and quite possibly at a net cost of zero!

3. Do your sales reps wear Armani suits? Then who’s paying for them? It’s you. And if you didn’t think their salaries would run to it, where is the money coming from? Time to look more closely at expense claims, perhaps? Just saying…

4. Are you worried about rising costs? If you’re not able to pass on rising input costs to customers though higher prices but don’t want the company to take the hit, what else can you do? Streamline your own operation in whatever way you can, of course – and part of that exercise must involve taking a long hard look at your expense management system. Looking at it through the lens of a small business expense management system for Android will bring potential efficiencies into sharp focus.

5. Does your accountant look stressed? Perhaps you’re the problem. Accountants can see the truth behind the numbers, and a good one should be sharing the truth with you. Ask him why he’s worried. Cheer him up by promising to implement an online expense management system. It takes no time at all, and will make a marked reduction in your expense costs and his blood pressure.

6. Is there a drop in productivity activity when people queue for their manual expense pay-out? If you have an antiquated manual system for business expenses, the time spent by employees in filling in the forms and queuing for their money is time that adds no value at all to your business – but you still pay for it. Time to get a small business expense management app to save on your expenses bill AND get more work done. That’s a real win-win situation!

7. Does your finance department work overtime? Even if your finance department is just one book-keeper, if they’re having to work overtime to keep on top of the expenses workload, it’s time to re-think your strategy. Have a look at the way expenses are processed; without online expense management software, it’s a fair bet that there will be duplication of effort and compounding of errors.

8. Did you make another operating loss last month? Sure, it happens from time to time, because external factors influence cashflow. However, even if things improve by the financial year end, allowing costs to roll along unchecked will mean your business won’t be as effective as it might have been. Constant vigilance over money matters is vital – and cloud based expense management software like Solo Expenses will lift a considerable burden from you as far as expenses are concerned.

9. Do you shop online? Few of us don’t these days. We’re harnessing the power of the digital world for our private lives, so why wouldn’t we do it for business too? Find out the benefits of Solo Expenses here – you’ll be surprised that it could turn out to be completely free for your business, by saving you more than you’ll invest in it…