Reimbursement automation replaces the paper-based and excel-based claims and reduces the unpleasant aspect of filing an expense. Generix reimbursement automation process can be accessed anytime, anywhere through web or mobile. It follows the standard structure:
- Employee use their money on the assigned business tour/expense
- An employee prepares the expense log and enters it in the provided reimbursement automation tool through the web or mobile app.
- An employee can attach the receipt and check-in details before submitting the claim.
- The concerned manager gets the notification of the submitted claim and can approve or reject it.
- In case the claim is approved, the finance manager receives it.
- The finance manager checks it in details and match it with the receipt and can approve it on a single click on immediately or wait till the month-end,
- All the expense claims reimbursed immediately or at the end of each month through reimbursement automation.
Why it is Convenient for the Organization?
The few organizational claims reimbursement and approvals process is very irritating. The employees spend their money on business tours/expenses and get their money back after a long time and huge efforts. Employees send paper-based requests that are kept by the managers and sometimes lost. The entire process irritates the employee.
Following are some of the significant benefits of reimbursement automation:
1- It reduces the chances of errors as previously the maximum expense claims are filed inaccurately which wastes the finance manager time to match it. Now with the help of reimbursement automation, every expense is claimed from time to time with dates and documents.
2- It makes the expense claim process swift. Employees can easily file their claims for reimbursement without wasting their time to find the exact template and send it to the right person. Employees file the expense at the same time when it occurs.
3- It makes the expense claims approval process faster as all the details are available online with the proof documents and the finance manager can approve or disapprove at one click.
4- It removes the paper-based and duplication of work and all the data is available online.
5- Automation gives real-time data to the finance department for budgeting and reporting.
6- Automation saves an enormous amount of time. Employees don’t have to wait for the whole month to submit the request and approve further. Now the claims are approved or not at a single click as per the set organizational hierarchy.
7-Automation tool also stores the expense receipts digitally without any loss. The finance manager can easily match it with the payments.