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What Features Does Online Expense Tracking Software Come With?

Online expense tracking software helps organizations take their expense management process online and allows them to gain more control over spending while giving them more flexibility. What features does this software come with? What can it do?
 

Online solution: One of the most important things about this software is that it is cloud-based. This is in contrast to on-premise systems where organizations have to spend a lot in installing the software on their systems. This also means that the maintenance and hosting expenses are borne by the vendor. It’s a plug and play solution that can be set up in minutes.
 

Intelligence and Reporting Tools: A very important requirement for expense managers is to be able to accurately forecast the budget required for any given period. This software helps collect all the data pertaining to expense management in one place and equips the managers with the right tools to perform their calculations accurately.
 

Approval Flows: Different organizations have different workflows when it comes to expense management. Some organizations want at least a tentative report before the actual trip while some organizations only ask for a report once the employee comes back from the trip. Some need double verification and approval while some are content with one. Whatever the organizational need, this software has the flexibility to support it.
 

Mobile Access: This software has native apps for the leading mobile operating systems and can be accessed by users anywhere.
 

Receipt audit: This could be a feature of the product or a service that the vendor offers. This helps the organization find and weed out any discrepancies that occur in the receipts and reports.
 

Card integration: Online expense tracking software allows corporate or personal credit cards to be integrated with the solution to ease the preparation of expense reports.