Corporate Expense Management Software in India: TrackoField
Streamline your employee claim and reimbursement processes with the best corporate expense management software in India, TrackoField. Read on for more details!
TrackoField’s corporate expense management software is one of the best automation tools to streamline the employee reimbursement process. Read on to find out the features and benefits of the software in detail.
It is truly said that a small leak can sink a great ship. Likewise, fraudulent and mistaken claims can become troublesome for your business. But, fret not! TrackoField offers an innovative expense management solution to streamline and optimize the entire claim trail. The software offers a diverse range of features and benefits to empower businesses. Keep reading this blog post to find them out in detail!
Expense Management Software: An Overview
Employee expense management software helps businesses optimize their entire reimbursement process. It provides companies with complete control over employee spending. But how exactly does it work? It is a software solution in which employees update their bills and receipts. Further, a claim request is sent to management for approval. The managers in a hierarchy can review the reimbursement amount and make edits if required. More and more companies invest in this innovative solution to ensure transparency in a claim trail.
Features of the Best Corporate Expense Management Software: TrackoField
TrackoField’s expense management tool rises above many software solutions available in the industry. Why? This is because of its robust features, which streamline the entire claim and reimbursement process. Some of these features are as follows:
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Expense Evidence Upload
The expense management solution allows companies to manage expenses for their field force on a single platform. It supports attachments in different formats, such as PDF, JPG, and PNG. Therefore, a remote workforce can simply upload the bills and receipts of their expenses within the software. Uploading expense evidence will ensure transparency in the claim process.
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Hierarchy-Based Approvals
Whether it is employees’ performance or their reimbursement claims, reviewing is the most crucial activity for companies. Expense management software ensures that management at different levels stays updated on employee expenses. Simply put, TrackoField’s software allows you to enable a hierarchy-based claim approval system to prevent fraudulent claims.
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Expense Categorisation
TrackoField’s employee expense management software helps companies categorize expenses efficiently. You can categorize the expenses into pre-defined categories, such as food, travel, or stationary. Furthermore, the software can be easily customized to cater to your business needs. For instance, you can easily add educational reimbursement costs to the software if you want to continuously upskill your employees.
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Expenditure Caps
Consider a scenario where your employees reimburse Rs. 4,000 as a meal allowance. Will you be able to justify the amount in your books of accounts? Indeed not! This is where TrackoField’s expense management tool comes in handy. It helps organizations put a cap on the expenditure of employees based on different categories. Our software solution will automatically reject the claim request in the case of claiming more than the set limit.
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Real-Time Expense Monitoring
One of the greatest features of TrackoField’s expense management software is the ability to monitor expenses in real time. Employers can get full control and visibility into employees’ expenses. Additionally, the software is of great benefit to employees. It provides alerts and notifications whenever the management updates the status of their claim request.
Benefits of the Best Corporate Expense Management Software: TrackoField
The entire philosophy of give and take is truly beneficial. Companies spend a huge amount to invest in employee expense management software. But why exactly do they spend their money on this innovative solution? This is because they are entitled to many benefits in return. Likewise, investing in TrackoField’s expense management solution offers a range of benefits. Given below are some of them:
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Transparent Reimbursements
TrackoField’s expense management tool ensures transparency in the employee claim and reimbursement processes. It prevents the threat of fraudulent claims and maintains compliance within the organization. The software also mitigates the risk of human errors, such as double entries of the expenditure.
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Quick Claim Process
Unlike the traditional way employees’ claims are handled, TrackoField’s expense management software expedites the entire reimbursement process. It automates the entire process, where both the employer and the employees receive real-time updates on their devices. As a result, the management can take action quickly and ensure a quick claim settlement process for employees.
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Time-Saving
TrackoField’s employee expense management software streamlines the entire claim process. A timely reimbursement creates a sense of satisfaction among employees. As a result, the employees will spend their time focusing on more productive tasks rather than spending much time following up on the claim status.
The system is easy to integrate with attendance management software and payroll systems which makes accurate salary processing a breeze.
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Better Management
With TrackoField’s expense management solution, companies can ensure organized and better management within the organization. The employees need not chase their managers for reimbursements. All they need to do is upload their expense bills and receipts to the portal. The management will automatically receive updates on your reimbursement request.
Conclusion
Expense management software plays a crucial role in automating and optimising field staff expenses. TrackoField provides the best software to simplify the entire reimbursement process for employees. It offers various features, such as expense evidence upload, hierarchy-based approvals, expense categorization, expenditure caps, and real-time expense monitoring. Each feature benefits companies differently. They help companies ensure transparency, process claims quickly, and promote better management within the organization.
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