Posted in Approval Processes

A Complete Guide to Expense Automation

If employees frequently travel for work, they’ll need to submit expense reports to receive a reimbursement and comply with travel policies.

Keeping track of expenses that employees incur is vital to managing your cash flow. It also allows you to properly reimburse your employees for any expenses they make.

But any missteps in this process could lead to problems — inaccurate claims, unclear policies, and even fraud are common expense reporting issues that organizations face.

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Posted in Approval Processes

How to Create an Automated Document Approval Workflow

Organizations heavily depend on processes to get work done. Standard processes ensure that tasks like employee onboarding and procurement are completed in an efficient manner.

But among the more time-consuming are document approvals. Certain documents, such as purchase orders and invoices, must flow through a series of steps to ensure compliance and standardization.

Doing things manually or not having a formal approval process in place at all will cost your business over the long-term.

So, how do you create a document approval workflow? What tools are available that can automate the approval process?

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Posted in Approval Processes

How to Make Managing Employee Time-Off Requests Much Easier

Employees that take vacations are more motivated and produce better quality work. It seems smart, then, to encourage your team to take days off to recuperate. 

However, 6 out of 10 workers don’t feel like their employer encourages them to take time off.

While there are multiple reasons staff feel discouraged, a big problem lies in how vacation request processes are set up. 

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Posted in Approval Processes

How to Automate the Invoice Approval Workflow in 3 Easy Steps

Every business, whether its offering is a product or service, has expenses. Suppliers or vendors need to be paid for their products and services, and they need to be paid accurately and on time if you want to maintain good supplier relationships. 

Accounts payable (AP) plays a vital role in any organization, whether it’s a one-person accounting operation in a small business or a whole finance department in a large enterprise. And at the heart of any AP department is the invoice approval workflow. 

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Posted in Approval Processes

Automating the Expense Approval Process in 8 Simple Steps

What is the Expense Management Process?

Expenses are an unchangeable fact for every organization or business, and for enterprises and small businesses alike, expense management is an important operations process. 

Expense management refers to a set of procedures that allow businesses to monitor and optimize (minimize) their spending—and raise their profit margin. This process encompasses the expense approval workflow in which employees submit expenses they have incurred for reimbursement.

A robust expense approval process helps to ensure that the organization’s spending doesn’t exceed its means. An automated digital expense approval process not only allows you to streamline approvals and save time but also arms you with data that can be used to gain critical insights that can be used to reduce costs. 

On the other hand, managing your expense approval process manually (using emails, spreadsheets, and paper invoices and receipts) takes a lot of time and can result in late payments, which can ruin your organization’s reputation among suppliers and impact your timelines if materials you needed are not procured on time. Paper and manual data entry also result in frequent errors and even missing documents that your finance team has to spend precious hours hunting down.

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Posted in Approval Processes

How to Create an Approval Process Workflow

Businesses must approve all sorts of documents every day, from invoices to time off requests to purchase orders. Without a good approval workflow system in place, all the time (and money) spent on approvals can rapidly start to add up.

Some companies get by with manual approval processes, perhaps relying on the strength of a highly effective operations manager. They email Excel spreadsheets around for signatures, or worse, rely on physical paper forms. But the modest amount of money saved by forgoing a more sophisticated or automated approval solution can quickly evaporate through missed documents, lost discounts, and other human errors common with manual processes.

Savvier businesses have an automated approval process workflows.

Join us as we explore the basics of workflow approval, what business processes to automate, how to streamline the process, and how to use one software to do it.

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Posted in Approval Processes

Complete Guide to an Optimized Leave Management Process

A good leave management process keeps operations running smoothly, while also giving employees the chance to take time off when needed.

But this process can become a nightmare for HR without a system in place. Employees aren’t happy either, when they can’t easily submit leave requests or when errors mess with payroll.

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Posted in Approval Processes

Taking the Stress out of Taking Vacation

Taking vacation is about resting, relaxing and de-stressing. Numerous studies have shown that employees who take vacations get better sleep, have lower risk of heart disease, and come back more motivated to produce amazing new things.

And yet, people are stressed about taking vacation. A survey through Healthline found that ~62% of 2,280 readers said that they experienced “very or somewhat” elevated stress levels during the winter holidays — which means employees came back to work just as stressed as before.

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Posted in Approval Processes

How to Automate Your Travel Request Process

A business lunch with a client. A taxi ride to the airport. Drinks at the hotel bar with a colleague. A trip for a work conference. All these expenses could qualify for business travel reimbursement. 

But how do you make sure everyone’s receipts and records are all accounted for?

The problem is that many organizations don’t.

In fact, on average, employees fail to receive $170 of expenses per year. 

The issue may lie with your travel request processes.

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