Why expense management software keeps employees happy15 January, 2019 12:13 pm
A survey by one of the UK’s leading suppliers of fuel cards has revealed potentially-startling statistics about just how dissatisfied employees can become because of companies’ policies over expenses management. Dissatisfaction breeds discontent, and harms productivity. So what can you do about it? We’d suggest that fuel expenses are the tip of the iceberg, and that it’s time for a radical rethink…
According to fuel card provider Allstar Business Solutions, 60% of UK employees who travel regularly on business end up out of pocket by as much as a third of their disposable income because of the way their employer’s expenses policy works – or rather, doesn’t work.
The dissatisfaction is so great that one in four has seriously considered changing their job because of their employer’s expenses policy. And more than 60% would love their company to take more responsibility for paying expenses before or during a trip.
Why would anyone want employees to be out of pocket and therefore dissatisfied with their employer? It’s hard enough to recruit good people; creating a scenario in which they are so unhappy that they’re prepared to jump ship would seem to be madness.
There is another way
But it doesn’t have to be that way. Claims can be made, approved and paid in an extremely cost-effective manner using online expense management software. In its simplest form, it prevents employees from being out of pocket during the approvals process. Delve a little deeper, and you’ll discover that it’s possible to link a company credit card to the Solo Expenses software, so the employee doesn’t have to use their own money at all to make purchases on behalf of the company – including when they’re traveling.
Some might say that a proliferation of company credit cards is a dangerous road to travel, and in certain circumstances we’d agree. But modern online expense management software is nothing if not sophisticated. Solo Expenses will help with setting an easily-understood expenses policy so that it’s crystal clear what spending is allowed, and what isn’t. Why wouldn’t you trust employees out on the road on behalf of your company? You’re trusting them to do business on your behalf, and if they know the rules then there’s more likelihood of them being fair with you because you’ve been fair with them.
What happens without online expense management?
Let’s go back and look again at the Allstar survey. Does any of us seriously think that none of those out-of-pocket and dissatisfied employees hasn’t thought of their own way of managing the expense control system in their favour? And of those, how many have actually done it? And what has that cost the company?
Therein lies another benefit of expenses management software for small business. Done the Solo Expenses way, claims are transparent, and a paper trail can be followed (we use the term loosely; it’s all on line, captured in the smartphone, of course). Mileage claims are accurate because they use GPS technology rather than guesstimates to measure mileages. Individual items can be categorised by whatever it suits the business to categorise them as, using a bespoke in-app filing system that comes as part of the feature-rich software.
Sounds expensive? Maybe, but it isn’t
Such power in one piece of online expense management software sounds expensive, but the Solo Expenses pricing model recognises that managing expenses is done to control costs.
We therefore offer some free-for-life features, and everything else is charged on a ‘per employee per month’ basis, so our software is always a perfect fit for your business. What’s more, you can turn features on or off at will using a very straightforward dashboard, and we’ll bill you accordingly. That means there are no long-term contracts to tie you down– but you can have effective expenses management at your fingertips for as long as you need it.