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How To Choose An Expense Management App

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By : Gerkin Sid    99 or more times read
Submitted 2018-08-22 09:41:02
Modern life can be tough, and you need all the help you can get to make it easier - so when it comes to expense management the little chap in our picture should be in your corner.

He's all you need to operate effective expense management software, which is immensely powerful within areas you might not have thought of.

But before we get to that, let's think about the thumb. In case you have a good expense management app, then a thumb should be all you need to scroll through the options to record and file your spend. If the option you have or are thinking of acquiring, is more complicated than that, perchance you need to reconsider your choice.

The beauty of a good expense management app is in the work done by the developer to build in powerful tools to work with every expense after you've recorded it. Filing details, and arranging them for quick recall and assessment before making the area of the bigger picture of your business finance, should all be there, working away in the background.

That's because so many of us are cash and technology-rich, we are all too often time bad; driven to do a lot more work-related tasks in the evenings, at weekends, and on vacation; the times we should be recharging our mental batteries to renew the fight when we return to work.

If your expense management app is reliably doing a good job, quickly and very easily, then you can win back time for the important things in life - things like playing with children, visiting family, walking in the countryside, as well as dozing in an armchair. The list is unlimited, and you no doubt could write your own. Is there something else you'd rather be doing at this very moment? Thought so. In that case, here are nine things you should look for in choosing expense management software that will give you the time to do it.

Nine things to look for in an expense management app

Ease of use. That's the thumb thing. Let the app do the work so you don't have to.
Versatility. Pick an app that will allow recording of expenses with a keypad, a photograph, or a voice memo.
Flexibility. One size doesn't fit all. Look for an answer that offers an option that suits the size of your business in terms of the number of people you employ. This will also impact the pricing; the fewer users you have, the cheaper it ought to be.
Integration. To be at its most effective, your chosen expense management software should integrate with the real ways you spend money, like credit cards, and just how your accounts are run, such as the major accounting packages.
Internationality. Your chosen app should be able to jump between currencies in an instant, and convert one to another so it will continue to work as very easily with rupees just, and, pounds or pesos, from Buenos Aires to Baltimore, or Mumbai to Manchester.
Language. In the same way, currencies are different in different countries, so are languages. Availability of different languages in the same app shows the lengths to which a developer is prepared to go to make their app fit for purpose.
Customisation. Your chosen app should fit your company like a glove, allowing you to file and collate receipts in a manner that suits you, perhaps under cost center numbers or specific business journeys, for example, which improves visibility and saves a lot more time.
Speed. Any expense management app worth its salt will allow management of expenses anywhere there's a WiFi signal, so the task of expense management can be fitted in around other things - like waiting in client reception areas, sitting in hotel rooms away from home, or during TV ad breaks even, if you feel the need.
Control. Saving time isn't all that expense management apps are about; they need to save money too. Diligent use helps to prevent fraud, saving money on the bottom line. This extends to mileage integration. Pick an app that allows distances driven to be recorded by tapping in postcodes, allowing the app to do the calculation. Bring a finish to guesstimation at the flick of a thumb.
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