How business owners can track expenses more easily

Is there someone in your business like the man in our picture? Feeling hunted and intimidated by the volume of paperwork he has to get through to process expense claims for your employees? If there is, then you, as a business owner, are losing money. We’ll tell you how to plug the leak…

Never mind Fear and Loathing in Las Vegas; that was just a film – this man has more of the real thing than he can handle right here, right now, in your Finance Department, because it’s monthly expenses time again.

It’s the low point in every month of his working life; that time when he has to plough through piles of paper, armed with nothing more than a trusty old calculator and a notepad, trying to make sense of hundreds and hundreds of columns of figures, and to reconcile them into a sense of order that will fit into your accounts.

And before you even start to think smugly and say he has a spreadsheet to help him make sense of it all, how do you know he hasn’t made a mistake in compiling it? If he has, and it results in too much money being paid, remember that it’s not his money; it’s yours.

Being a good expense manager
Being a good expense manager is just like being a good safety manager or a good people manager. The objective is to do the job accurately and as quickly as possible, so everyone can get back to activities that really add value to the business – because let’s face it, paying this man to plough through all these documents adds nothing at all. It just sucks money out of your business whilst adding nothing to it; money that you and the sales team have worked so hard to put in there.

Being a good manager of anything calls on you to think outside the box, and to discover better ways of achieving things. And when it comes to managing expenses, you need an expense manager app.

These days these clever pieces of software are immensely powerful, and perfect, for you to pick the right one, for any kind of expenses.

Innovation in expense management
At Solo Expenses, we’ve been innovating in the process of online expense management since 2003, so we know what we’re talking about. Ours was the first expense tracker app designed for use by the sole trader, and although we still have a product perfect for him (or her) we have a range of others too.

An individual can have our Personal Use package as a free-for-ever download from our web site or the app store. Then we have a packages aimed at the business owner, and one for SMEs with up to 100 employees, and beyond that comes the Expense on Demand ‘Enterprise’ package, which has all the power and flexibility you could need for an organisation employing thousands.

All work on smartphones, which most people already have, and they’re equally happy being an expense tracker app on android as they are being an iOs expense tracker app.

Save money every month
Shared themes run through all the packages. They’re simple and intuitive to use, and quick to set up. What’s more, although you’d expect to invest some money in acquiring our product, we are confident enough in our offering to say that the cost reduction you’re able to achieve will outweigh the investment you make. And in this context, don’t think just of reduced expenses (though there’s every chance that’s going to happen, but think of the man in our picture. You’ll free up his time to do something else that helps the firm be more efficient; something that adds value and lets him use his talents  more effectively on your behalf.

Do that, and not only will your profits probably increase, but the next time he’s faced with fear and loathing, it’ll be whilst he’s watching a film, and not making sense of the latest month’s expense claims.

© Ximagination | Dreamstime.com