Welcome to the era of the smart mobile expense report. Not only is mobile expense tracking available, it will soon be the only way it’s done.If you or your employees are still chained to their desks tracking expenses via spreadsheets, your company is missing out on increased efficiency, productivity and employee happiness that comes with tracking expenses on the go.
Everyone's already on mobile... or they soon will be. How many people, exactly? Recently eMarketer published an article stating that it expects 4.55 billion people to use a mobile phone in 2014. And it’s not just in the U.S. Mobile growth is a global phenomenon, with high growth rates in Asia, the Middle East and Africa. Experts predict that nearly a quarter of the world’s population will use a smartphone in 2014.
Why complete your expense report on mobile?
The evidence for mobile capabilities, including mobile expense reporting, is mounting. If it wasn’t already official, it is now: expense reporting is better on the go. Mobile capabilities allow users to increase productivity, efficiency and accuracy by tracking expenses in real time, as they happen. Mobile expense reporting solutions also allow for seamless integration and syncing of credit cards and e-receipts from vendors, eliminating much of the work.
More than just a mobile investment
According to Gartner Group’s Survey Analysis: Understand the CFO’s Demand for Nexus Capabilities, the top technology initiatives in order of importance are business intelligence, enterprise business apps, business process management, mobile technologies and cloud computing.
But some investments can cross into multiple categories, as is the case with mobile expense reporting. In addition to mobile, companies also realize benefits in business intelligence, business process management and cloud computing.
Image credit: Gartner Group
Your competitors are mobile
As mobile usage increases for business, it’s being used more extensively in relation to business travel and expense tracking. The companies that have converted to mobile expense reporting have competitive advantages in costs, efficiency and real-time insight. As mobile expense reporting evolves, traditional, paper-based methods fall further behind in terms of productivity, capabilities and costs.
Mobile capabilities can not only make business travel easier, but also more cost-efficient through reduced processes and business travel policy compliance. No company wants to miss out on the benefits of business travel. Companies that travel are better able to attract more business, diversify, give employees learning experiences, and are able to network and connect within their industry.
Business gets done via mobile
Mobile makes business travel more productive. A huge component of effective business travel is utilizing mobile devices and apps that can sync team member communication, scheduling and data to provide a virtual, on-the-fly meeting room whenever the need arises. What’s not to love? Because of mobile expense reporting, business travel now also means “business as usual” in terms of employee capabilities and production. And “business as usual” keeps everyone – you, your employees, and your customers – satisfied.
Your company can realize the advantages mobile expense reporting provides, but it’s on you to make it happen. Learn why you shouldn’t wait to be asked to fix it.