Adam Smith published his first edition of Wealth of Nations in 1776, the same year 13 American colonies declared independence from the British Empire. Amongst his other monumental economic theories was the idea that self interest drives the best outcomes, famously asserting that “it is not from the benevolence of the butcher, the brewer, or the baker, that we expect our dinner, but from their regard to their own self-interest”. 

 

Such is the case with expense reporting - it is driven by multiple parties, but the most influential is the employee who desires reimbursement as quickly as possible with the least amount of effort. Knowing this and with the advent of mobile devices, new technology, and processes, what strategies can we apply to the deeply burdensome expense reporting process to reduce the challenge of expense reporting?

 

This Guide focuses on Five Objectives:

 

  • Reduce the time and costs associated with entering, managing, documenting, reconciling, and paying travel and operational expenses.
  • Improve the processes and workflow for both employees and their firms with real-time report management.
  • Improve the experience for vendors and business partners.
  • Leverage mobile technology to enhance digital documentation and workflow.
  • Integrate – not just link – expense management into the company’s accounting ecosystem (Practice Management, General Ledger, and Document Management).

Expense Management: A Boomer Advantage Guide

  • Click HERE for more information on the Guide to Expense Management: A Boomer Advantage Guide.

     

    Expensify is the industry leader in modern expense management. Click here to get started with a free trial.

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