Chasing employees for missing receipts is a soul-crushing task. Every month, finance teams worldwide face the same frustrating ritual: emails flying, phone calls made, all to track down those elusive pieces of paper that validate company spending. Is your current expense management process still relying on this outdated, time-wasting hunt?
The Havoc Missing Receipts Cause
Hours Wasted on Admin Busywork: Imagine your finance team – skilled professionals – spending hours each month just nagging employees for receipts. Think about it: tracking down a missing lunch receipt, a forgotten taxi fare… it's not strategic work; it's administrative quicksand. This is time ripped away from higher-value tasks like financial analysis and strategic planning.
Expense Reports Become a Burden: For employees, expense reporting can already feel like a chore. Adding the stress of constantly being chased for missing receipts makes it worse. Think about the employee who’s already busy traveling or closing a deal, now having to frantically search pockets, bags, or email inboxes for a receipt from weeks ago. It creates friction and resentment, turning a necessary process into a negative experience.
Impacting the Bottom Line:Â Missing receipts don't just cause admin headaches; they impact the business. Delays in collecting receipts lead to delayed expense report processing, which means delayed reimbursements for employees. Incomplete expense reports also make it harder to get a clear, accurate picture of company spending, impacting budgeting and financial forecasting. And let's not forget potential compliance issues and audit risks down the line.
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Continia Expense Management
What if you could eliminate the receipt chase altogether? That’s the promise of Continia Expense Management. It's designed to make receipt capture seamless and painless for everyone, effectively putting an end to the "missing receipt" nightmare.
Here's how Continia transforms the receipt process and eliminates those pain points:
Mobile Receipt Capture : With the Continia mobile app, employees can capture receipts instantly – right at the point of purchase. Just snap a photo with their smartphone. No more piles of paper receipts, no more lost slips, and no frantic searches later. Receipts are captured and submitted within seconds.
"Instead of shoving a crumpled receipt in his pocket, Mark (the Sales Manager) can now take a quick photo of it with the Continia app as soon as he gets it from the client lunch. The receipt is instantly digitized and linked to his expense report – done and dusted in under 10 seconds."
Automatic Data Extraction (OCR): Continia's intelligent Optical Character Recognition (OCR) automatically extracts key data from receipts – date, amount, vendor, even tax information. This eliminates manual data entry, reducing errors and saving your finance team significant time.
Digital Workflow & Automated Reminders – Gentle Nudges, Not Frantic Chases: Continia provides a clear digital workflow for expense approvals. Managers receive automated notifications to review and approve reports. For the rare instance of a truly missing receipt in the system, Continia can send automated gentle reminders directly to the employee, removing the burden from the finance team to personally chase.
"If Mark forgets to submit a receipt (which is less likely with mobile capture!), Continia automatically sends him a friendly reminder notification within the app. The finance team are no longer the ‘bad guys’ chasing him; the system handles the gentle follow-up."
Do this now
Continia Expense Management automates expense reporting, saving time and reducing administrative burdens for employees and finance teams. Onpoint, a new Continia partner, offers exclusive access to world-class financial automation solutions integrated with Microsoft Dynamics 365 Business Central, providing seamless implementation and support. Benefits include seamless integration, time/cost savings, enhanced accuracy and compliance, expert support, and scalability.
Book a consultation to optimize your financial operations with Business Central + Continia!