We all worry about spending money on products that don’t add value and no one wants to be ripped off, particularly when it comes to business.
To help you understand how much Expensemate can save you, this article includes an interactive calculator so you can see exactly how and where our solution can save you money.
Expensemate can save you more money if you process a lot of expenses. One way it helps you to save money by tracking expenditure in real-time.
Expense fraud is a serious issue and preventing it is one of the primary benefits of using an effective expense management solution. Employee expense fraud costs UK businesses around £2 billion per year according to the Global Payroll Association in 2018.
Many companies wrongly believe that implementing a corporate card system will open their company up to fraud. The truth is that fraud is significantly more likely if you are using a manual expense system.
One in ten UK employees who use manual expense systems admit to submitting false claims "all the time" and one in five do so "irregularly".
Fortunately, Expensemate provides real time data visibility on spending and an integrated card system which makes it incredibly challenging to create false claims, reducing the value of fraudulent claims in your business by up to 75%.
Another benefit of capturing receipts is that your business will be able to reliably claim back VAT. Many businesses rely on employees to keep their receipts, only for the receipts to be lost either on paper or in the depths of an email chain or group chat.
Making sure that receipts are captured and stored immediately means that you can claim back VAT on company expenses.
Ultimately, the more your employees spend the more money you will save if you use a proper expense management solution.
Implementing our expense system means that your workers can spend their time on what matters, instead of logging expense reports and bringing receipts into the office.
Expensemate found that a field-based worker who submits 10 receipts on average per month, will save an hour of admin for every reporting period. Which means that your sales executives can spend longer closing deals to hit their monthly target.
Saving your field-based workers time is just the tip of the iceberg. According to the Global Business Travel Association, 19% of expense reports have errors and it takes an average of 18 minutes to correct each one.
To save your finance workers time chasing employees, Expensemate prompts users to capture their receipts and includes an integrated approval process so that the audit trail is in plain sight.
Our platform also integrates with your accounting software and automates low value bookkeeping tasks. When you use our platform, you will be able to close your books four times faster than you would using a manual expense process.
It means that finance workers can spend more time on what counts like cutting wasteful spending and creating accurate projections.
Everyone wants to know what they are getting for their money when they decide to invest in a new product or service. Expensemate allows you to discourage expense fraud, reliably reclaim VAT and save on staff time and wages.
It also allows your finance workers to focus on what matters. The more expenses you process, the more you can save with Expensemate.
You get so much more than corporate cards and access to our app and portal for as little as £7 a month per card. When you use our system, you benefit from dedicated customer support, a simple expense package that covers all the basics and affordable credit to help your business grow.
Thanks to Expensemate’s development team you will also have access to emerging new features without any extra cost. All of this comes with no hidden fees, the ability to add employee spending limits and total cash transparency. To put it simply, Expensemate offers you everything you need to properly manage your business expenses in an easy-to-use package so that you can upgrade your business.
Put Expensemate to the test and start your 30 day free trial today.