Bill shows Ollie how Solo Expenses can turn financial failure into success

“Marginal differences can have a major impact in the end,” Bill announced to friend Ollie, leaning back in his chair and chewing the end of a pencil.

Ollie looked up. “In what way?”

“Well, here’s a good example that I’ve just thought of: scan or scam. Two words that sound very much the same, and even look the same, a bit. The difference between them is marginal, but they have entirely different meanings, which is especially true when it comes to small business expenses management.”

“I see where you’re going with this,” said Ollie. “When it’s done correctly, with the right expense tracker app, business expense tracking software eliminates fraud by making people play within the rules. Clever.”

“Exactly,” said Bill. “When employees are required to scan receipts, there can be no room for ambiguity; no room for the ‘creative counting’ scam that sucks money out of a business. It’s fraud, no matter how you dress it up, and it’s not a victimless crime. I don’t know how people got away with it before the expense manager app came along.”

“I wonder how much money people stole before software like this existed,” mused Ollie. “I suppose we’ll never know.”

“And there, my friend, you’ve hit the nail on the head. Inability to record and measure spending with any degree of accuracy has a negative impact on the balance sheet – and more than that, it indicates poor management practice. How can you run a business efficiently without knowing what you’re spending? If a thousand expenses claimants in a business all inflate their expenses by £10 a week, that’s more than half a million pounds a year.”

There was a short silence whilst both men absorbed the thought. Ollie broke it. He said: “It’s worse than that, because presumably expense claims, even artificially-inflated ones, are signed off by someone in authority. In which case, the company is opening its wallet and saying ‘Go ahead, help yourself’. The managers are actually approving theft…”

Clever software

Bill nodded. “Yup. And all because of the tiny difference between ‘scan’ and ‘scam’. Using small business expense tracking software like Solo Expenses builds in accuracy and eliminates fraud. The software is even clever enough to read receipts. Photograph one, and it will record the date, the amount paid, and who it was paid to. You have to wonder if it’s some kind of magic. I know it isn’t, it’s just the work of clever developers and people with vision, but it still feels a tiny bit magical…”