What every business can learn from good expense management practice

Karle Scheele poisoned himself, Marie Curie died from leukaemia caused by her experiments with radiation therapy, and Elizabeth Ascheim’s cancer was caused by excessive X-ray exposure. All died because of their desire to understand more about science, but gave us something important in return. They offered their lives for a legacy of knowledge. So what does that mean for you and your company today?

It’s human nature to be cautious, or even afraid, of change. It’s that step into the unknown; that push away from the side of the swimming pool into deep water. We fear the consequences of an action unfamiliar to us. Usually.

If the trio we mention above had been more aware of the consequences of their work they could have contributed more to science by living longer.

Thankfully, nowadays we know much more about radiation, X-rays and arsenic – the things that led to their deaths – and our lives are safer and better as a result.

These days the sharp edge of technology is to be found in computing, and the power that it can deliver. And we should throw caution to the wind and grasp it all with open arms. How else would we be able to accomplish so many things that were beyond our reach even a decade ago?

That’s not to say that even though developing new computer technology is unlikely to be life-threatening, that doesn’t mean it involves no pain and difficulty. Our co-founder Sunil Nigam can testify to that, describing the early days of our expense management software as a rollercoaster ride, with incredible highs and sudden downward plunges. These days the rollercoaster is gentler and more controlled, and hardly ever stomach-churning.

The result is that we have a suite of expense management software ready to support your business in becoming more efficient, streamlined, and cost-effective.  Expense management is easy to overlook, but overlooking it can be a constant financial drain that you’re not even forced to be aware of.

The beauty of our expense manager app
Solo Expenses works to the benefit of two important budgets – money and time. Let’s look at time first. Because it’s easy to use, and does a lot of calculations in the background, it can quickly compile and send reports to accountants or finance managers. They can approve them wherever they are, so long as they have a WiFi signal, which means less time wasted in processing paperwork, which is virtually never an ‘added value’ activity. Result: more time in the bank to devote to customer service or product development, or any other valuable activity.

And now the cost. The benefits here are many and varied, so let’s take just one example. Is there someone in your finance department who spends their time totting up expense claims? How much are they paid per hour? Could that time be used more productively elsewhere, giving you better value from your payroll spend? Perhaps you’ve not even thought of that, because processing expenses is an important task? In that case, doesn’t it deserve the best technology?

Two of the benefits
Spending control and more effective use of time. What more do you need? Of course there are more benefits, which you can discover for yourself with a quick look at our web site. Whilst you’re there, look at our two expense management software packages for small businesses. You’ll notice that both are available on a 14-day free trial, so you can explore the software in real time in your own business. You’ll see the pricing information for those packages there as well, alongside the download button.

You’ll notice that we don’t list the features of our Enterprise package. That’s because it has a ‘pick’n’mix’ collection of features that you can choose from to make a truly bespoke expense management package to suit a business with thousands of employees.

Go ahead, find out in a 14-day free trial that you can, in the vernacular, ‘suck it and see’. We guarantee, experimenting with our software won’t result in the fate of Karl Scheele, who we mention at the top of this blog. In the early days of wallpaper manufacture he developed a colour called Scheele’s Green, which was very much in vogue. We don’t hear of it these days, and that’s understandable because its vivid green colour came from an arsenic-based pigment. And Scheele had the unfortunate habit of tasting the chemicals he worked with…