What Is a Field Expense Tracking App: Explained

A field expense tracking app is an automation tool that streamlines your field employee expense claims and reimbursement. Find out its features and benefits in detail! 

Looking for a solution to streamline your employee reimbursement process? Learn why you should invest in a field expense tracking app. 

What, exactly, do you need to optimize your employee’s expense reimbursement process? It starts with automation but it doesn’t end there. You must implement the right resources to streamline the process. In other words, effective field expense management requires automation tools like expense management software. Let’s discover its meaning, benefits, and features in detail! 

What Is a Field Expense Tracking App? 

An automated expense management software is an automation tool where your remote employees can upload their bills and the management can approve them in real-time. It is a complete solution to streamline your entire claim trail. Whether you want to reduce human errors or reduce the paperwork in your organization, employee expense reimbursement management software is an ideal solution for you. Different features provided by the software also ensure transparency in the entire claim trail. 

Features of a Field Expense Tracking App 

The key to choosing the right expense tracking software is understanding your business needs and knowing what resonates with them. Here’s a look at some common features that you should consider:  

• Expense Evidence Upload 

So you are managing piles of paper bills and receipts? It will indeed become a daunting task for you. With a field expense tracking app, you can digitalize the entire process. Your remote employees can capture and upload the bills within the software for reimbursement. 

• Put an Expense Cap 

Most employees get habitual to the practice of fraudulent claims. They are found to get fake bills and claim the amount from an organization. With this advanced automated expense management software, you can ensure transparency in the claim amount of each field executive. 

The software allows you to set an expense cap based on the categories and employees’ designations. What if the employees still upload the bills with a claim amount higher than the set limits? An employee expense reimbursement management system will automatically reject the claim request.

• Multi-Level Approval System 

Not one, two, or three- the entire management in the hierarchy can get visibility into employees’ spending. How? An expense management software helps companies to enable a hierarchy-based approval system. As a result, the management at different levels can review and approve the claim requests in real-time. 

• Auto Alerts and Notifications

A field expense tracking app can also be used by the companies to get real-time status updates. This means whenever any field executive requests a claim or the management at any level approves them, auto-alerts are sent to both the manager and the employees. 

• Payroll Management Software 

A quick expense reimbursement approval process is not only enough for employee satisfaction. However, an efficient payroll process is also essential. Therefore, an automated expense management software like TrackoField seamlessly integrates with leave and attendance tracking software through which the software automatically fetches employee details and calculates their total salary. 

Benefits of Field Expense Tracking App 

Expense management software offers countless benefits to businesses. Some of them are given below: 

• Ensure Transparency 

The greatest benefit of investing in an employee expense reimbursement management solution is that it helps businesses prevent fraudulent claims. It fosters the trust between the employer and the employees.

• Reduces Human Errors 

The companies can also use the field expense tracking app to mitigate the risk of human errors. For instance, the software will automatically flag the entries that are recorded as duplicate entries. 

• Expedite Processes 

An expense management software is an intriguing solution to expedite the entire claim trail. From expense evidence upload to seamless approvals, the software simplifies and speeds up the complete process. 

• Boost Employee Satisfaction 

When you invest in automated expense management software, it also enables businesses to promote employee satisfaction. It ensures that employees get their claims requests approved and the reimbursement on time. 

To Sum It Up! 

Automation is similar to the torch in the tunnel for every business. A field expense tracking app is an innovative solution to help you automate and optimize the complete reimbursement process. 

But which might be the best software to streamline your claim trail? Most industries like healthcare, retail, e-commerce, construction, and more, prefer TrackoField. 

This is because the company not only provides expense management software but also a complete solution to automate your end-to-end field force operations. The companies get access to this advanced technology at a minimum subscription price. 

Besides providing this innovative technology, TrackoField also provides an MR reporting system to cater to the personalized needs of pharma businesses. So, what are you waiting for? Get in touch with us now to schedule a free trial!