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Your two-minute guide to real-time expensing

June 21, 2023

Efficient expense management is a critical aspect of organizational success. Real-time expensing enables employees to submit and approve expenses as they happen, eliminating manual paperwork and the delays associated with traditional expense reporting.

Simple 3-Step Process

Capture receipts

Employees can conveniently use their mobile devices to snap photos of receipts on the go.

Automated data extraction

Advanced Optical Character Recognition (OCR) technology automatically extracts essential data, including amounts, expense type, and merchant information, from the scanned receipts.

Quick Submission

Employees can promptly submit expenses for approval and processing with just one click, ensuring a seamless workflow.

Why Choose Real-Time Expensing?

Real-time expensing benefits all stakeholders involved in the expense management workflow.

For Businesses

Enhanced Policy Compliance: Real-time expensing platforms can flag out-of-policy expenses, reducing compliance risks and detecting potential errors or fraudulent activities.
Improved Financial Predictability: Gain immediate visibility into your expense pipeline for better forecasting and more accurate cash flow management. No more unexpected surprises at the end of the month.
Detailed Reporting and Analysis: Real-time expensing categorizes spend by type, amount, and project, providing valuable insights for identifying cost-saving opportunities.
Streamlined Approval Process: Automated approval workflows save time for managers by reducing the need for manual intervention. Expenses meeting policy requirements can be approved automatically, ensuring swift processing.

For Approvers

Easy Overviews and Workflows: pprovers can review and approve expenses with a single click on their mobile devices. They can organize expenses by type or amount, based on their preferred view. They can also view out-of-policy expenses and can approve or reject expenses in full or partially.
Balanced Workload: Real-time expensing spreads the workload evenly throughout the month, preventing a backlog of expenses during month-end closing.
Reduced Errors: With automated data extraction, the chances of human error are lower, saving valuable time and effort in reviewing expenses.

For Employees

Eliminates Expense Reports: Real-time expensing eliminates the need for employees to compile manual expense reports, simplifying the process and freeing time.
Easy and Convenient: Employees can instantly capture and submit receipts using their mobile devices, minimizing the risk of losing receipts and ensuring timely expense submissions.
Faster Reimbursements: Submitting expenses in real-time speeds up the reimbursement process, increasing the likelihood of prompt reimbursements.

Implementing real-time expensing with Zaggle XPNS, a do-it-yourself expense automation platform, can help businesses save time, and empower employees with a seamless and efficient expense submission process. XPNS offers enhanced policy compliance, improved financial predictability, streamlined approvals, detailed reporting capabilities, and a user-friendly experience for both employers and employees.

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Your two-minute guide to real-time expensing

Simple 3-Step Process

Capture receipts

Automated data extraction

Quick Submission

Why Choose Real-Time Expensing?

For Businesses

For Approvers

For Employees

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