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Why SMBs should Adopt Cloud-Based Expense Management Software

The coronavirus sucked the life of businesses globally. The digital economy got an adrenaline rush. Remote working boomed. Organisations scrambled to acquire technologies that enable a smooth expense management workflow.

If you ask great cooks why their food is so good, one often finds one necessary ingredient in a recipe that makes all the difference. In the pursuit of digital transformation, that ingredient is a well-chosen cloud-based expense management platform. It not only optimises time but also saves costs.

Cloud-based expense management is redefining the employee business expenses space globally. It is time to embrace enhanced efficiency with a cloud-based expense management solution!

Business advantages of cloud-based expense management software:

The cloud is the first step in an unprecedented journey of online expense management. The potential of cloud-based expense management software is limitless.

It is no longer a question of why move to the cloud, but why not?

1. Relinquish paper: By moving to the cloud, there is no need to keep stacks of paper receipts. Employees can click and submit expense receipts using a smartphone.

2. Eliminates manual errors: 19% of manually created expense reports are error prone. Robust cloud-based expense software comes with features like receipt scanning and integration with credit cards - does away with the need for entering data manually.

3. Improved policy compliance: Businesses cannot enforce expense policies effectively if still using spreadsheets or paper to manage their employee expenses, because an automated expense management system flags out-of-policy expenses at source.

4. Cost-effective: Saving on cost is one of the crucial reason's businesses are opting for the cloud. Companies that process expenses manually pay an average of $34.41 per report. Switching to ExpenseOnDemand, an automated cloud-based system costs as little as $1.00 per expense report.

5. Analytics and transparency: Companies have greater visibility into business spend and manage employee business spending far more effectively-being in the cloud.

6. Flexibility: The cloud offers businesses more flexibility. Being in the cloud means that financial data can be accessed from anywhere, anytime via any device.

7. Mobility: The cloud allows mobile access to company data via the smartphone.

8. Increased Security: Security is of prime importance for businesses. Digital data storage gives increased privacy. Being in the cloud, they have the security of no malware attacks or losing their data. Their internal data is also very secure in the cloud.

9. Pay as you use: Cloud pricing plans give businesses the flexibility to control their actual costs. They can add or remove as and when they need them.

10. Sustainability: Hosting on the cloud is environmentally friendly. Companies can reduce their carbon footprint by going green.

It is time to shift to the cloud with ExpenseOnDemand. Businesses choose ExpenseOnDemand as we are a company that is more focused on our customers and our product rather than ROI. We offer the most flexible and scalable cloud-based expense management software. We offer an incredible way to automate the employee expense process, which any business can afford. A business expense manager app - simple to configure and available “in the cloud” 24x7 for 365 days – anytime, anywhere. Save time and money now with ExpenseOnDemand. Take the 30-day FREE TRIAL and get started.

Image Credit – Gerd Altmann / Pixabay