The core benefits of automating the expense management
According to research by analyst firm Levvel, organizations who use automated processes can save an average of 74 percent over those who use a fully-manual system for submitting, approving, processing and reimbursing employee expenses. For an organization of 2,000 employees, with 30 percent submitting expenses each month, this alone represents a potential saving of more than $150,000 per year. The cost savings from automating manual processes is the most obvious upfront benefit of expense automation. However, the benefits that automation provides for CFOs reach far beyond the cost of labor. Below are four areas that CFOs can see significant operational and cost benefits from deploying expense management software.
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