One of the most annoying aspects of a business trip? The expense claim process. It can be brutal, especially if it’s a manual system that requires the submission of paper receipts. There’s no elegant way to save those pesky physical receipts. You’re often left to cram all those bits and pieces of paper in your wallet just to prove you’ve purchased a bottle of water at the airport and show the precise cost of a client dinner.
Fortunately, we’ve come a long way with the advent of digital cloud technology that allows your travelers to seamlessly scan receipts using your mobile device. A mobile expense system has many more benefits – let’s quickly run through them.
Access anytime, anywhere
This capability is a must-have for business travelers on the go. A mobile expense system allows you to submit your expense reports anytime, anywhere, whether you’re in the office at home or the corporate headquarters.
No more lost receipts
You can scan your receipts the moment they’re in your hand using the expense app on your mobile device instead of waiting until after your trip to turn them in. And you can also easily upload digital receipts that arrive via email.
Less typing involved
Thanks to the optical character recognition (OCR) functionality, relevant details from the receipt – including the cost, date, and vendor – are automatically populated and linked to the trip, creating less work to generate your claim.
Faster processing system
With a mobile solution, employees can claim their expenses digitally, helping to expedite the review and reimbursement process.
Typically, expense apps are compatible across devices, so those who prefer to sit in front of a computer screen when reviewing claims can do so. Alternatively, you can start the process on your mobile phone and pick up where you left off on your desktop.
Immediate currency calculation
Many mobile expense systems will automatically calculate the exchange rate when you upload receipts from another country, so you don’t have to spend time figuring out the math of converting your bill from Japanese yen to US dollars.
Not just for travelers
Managers and finance teams reviewing claims can use a mobile expense system to check and approve reports while on the move themselves – ideal in a remote work world. After a traveler has submitted an expense, approvers will receive a notification on their mobile device and can take action right then and there.
Less fraud and fewer mistakes
When using the mobile app scanner, the OCR functionality automatically fills in the information detected on the receipt, eliminating human errors and the chance for employees to try to “slip one by” and inflate expenses.
Our mobile expense platform
American Express Global Business Travel offers a mobile expense system in the form of NeoTM, one of the few truly unified travel and expense platforms available worldwide. The app makes expense management more fluid, saving you time and energy.
Interested in taking Neo for a test drive? Sign up to get a hands-on experience today.