Expense reporting can be chaotic. From receipts flying everywhere to employees wanting verification to get reimbursed to making sure every entry is accounted for.
We know how disorganized — and annoying — it can all be.
Managing expenses manually isn’t uncommon. But, one of the first things we recommend to clients with significant on-the-go expenditures is implementing an expense management platform for yourself and your team to keep everything in one place, and organized.
These are the benefits of implementing an expense management platform for your agency:
- Bills paid on time
- Less manual work
- Set budgets
- High visibility into cash flow
Get your bills paid on time.
In an agency’s dream world, bills and expenses would always be handed in on time.
With expense software, you can make sure employee expense reports get paid as they're submitted — instead of off-cycle to get those expenses paid. This makes expense reports that much easier, plus you can pre-schedule payout of specific bills so you never miss another payment.
Cut the manual work.
Spend the money… and have everything else automated for you.
Expenses and bills can be synced with your billing software, such as Quickbooks or Xero. An expense platform will give you instant visibility into your agency's expense report. And you can skip awkward conversations with employees for receipts and reimbursements.
Set budgets for your time.
No more employees running wild with a business credit card and submitting questionable expenses months later.
Set budgets on that company card with an expense management platform, so they can only spend at a particular place. You can even set things up to budget a specific number for a hotel, a separate number for food, and a different amount for entertainment. And that can vary from person to person!
Real-time budgets means your team will have to stick to them. You can't go over budget if the card starts declining once you do!
Gain visibility into cash flow.
Numbers don’t lie — unless you don’t have all the numbers. You’ll know how your agency is doing if your expenses are organized and accurate.
Having your expenses automatically sync to your billing software makes it simple. No need for constant back-and-forth to ensure everything is up to date; Upsourced can get straight to the financial analysis and strategies to help your agency grow.
Who knows, finding unnecessary expenses can get your agency to profitability that much faster!
The easiest way to get started? Well, Ramp makes everything we mentioned above possible.