What Makes the Best Business Travel Expense Apps?
Business Travel Expense apps make our lives easier. They help us keep track of our spending, in addition to the insights we get in our spending, they take away a lot of difficult or time consuming work we would normally have to do ourselves.
The best expense apps answer to the need that in today’s world you need more than just an app that only registers how much money you have spent. You should have an app that does that as well as the following:
Receipt scanner to extract relevant data
The first thing the best expense apps should be capable of is scanning receipts.
With scanning receipts we don’t mean just take a picture and attach it to the expense. With scanning receipts we mean extracting all relevant data out of a receipt without any manual input. A copy of the receipt is safely stored for over 10 years and the digital data is available for you to use in expense reports or to send directly to your accounting software.
No more manual input means you’re saving a lot of time on your expenses, and you’ll never lose a receipt again!
Multi-currency expense app using real-time exchange rates
If you travel for business you probably deal with multiple currencies. Dollars, Euro’s, Yen, and more. but how do you deal with the expenses you make in a foreign currency? The simplest answer: a multi-currency expense app that converts foreign currencies automatically to your default currency.
Whenever you take a picture of a receipt, the expense app reads out the currency if it’s on the receipt. To convert a foreign currency to your default currency, Rydoo uses real-time exchange rates.
Imagine you have to convert all these expenses yourself… You probably spend hours and hours every time you need to file an expense report. Now that time is saved and the information used is accurate.
Multi-language expenses app
When talking about multiple currencies, multiple languages as an issue is never far away. These days the world is becoming smaller and smaller, and we’re dealing with people from all over the world every day.
Businesses have branches abroad, and many have employees that speak another language.
Instead of forcing everybody to work with an app that’s only available in one language, companies prefer solutions that offer their app in multiple languages. Users can choose in what language they want to use their apps!
Track mileage expenses
Want to track mileage for expense reimbursement or tax deduction? You’ll have to know how many business miles you drove! Your smartphone is always with you, so why don’t you use it to track mileage expenses? The best expense apps allow you to keep track of mileage just the way you keep track of your expenses. Just fill in the distance and the mileage rate and you’re done!
Submit expenses for approval
An app to track expenses can save you lots of time and money, but if you are running a business and your employees need to report their expenses, you’ll also need a way to control these expenses.
The expense approval is made for businesses that need this kind of control. Whenever an employee adds an expense (mileage or receipt), he can send it to his manager for approval. The employee cannot report this expense before it’s approved by his manager.
This offers so many benefits for both manager and employee!
The manager doesn’t have to wait until the end of the month or quarter to control and approve expenses, and the employee can only report what is approved, so no more going back and forth over expense reports that contain declined expenses.
Scanning business cards
How many times have you lost a business card? Another feature that makes a great expense app is the ability to scan business cards. Just like the receipts, all relevant data is extracted and can be saved directly into your phone. Your contacts are now at your fingertips.
Interested in more business travel apps?
Check out this post where we compiled a list of the 27 best business travel apps!