Transparency is control and many companies are still gambling with this crucial element. Its not personal, its business, and while many companies do extend a vast array of employee benefits to care for its people, compromising a bottom line is just not good business. Safeguarding against employee spending habits is not wrong, and tracking these transactions is certainly not with lack of welfare for the employee. It is simply smart business practice, a company expense policy that provides clear guidelines to those choosing to work for your business. Using an expense tracking system not only gives your company reassurance, it gives an employee verifiable data should their spending ever come to question. Win-win. The only people who would have a problem using an expense tracking system are those who hope to abuse company funds. Sounds like a no-brainer.
According to a recent article on statescoop.com, "Automating the process of expense reporting can drastically reduce reporting errors, expose potential areas of expense abuse and improve employee productivity for state and local government agencies, according to a new report. Technology that automates processes and increases visibility into employee spending can improve efficiency significantly while reducing costs... It can also help to automate certain compliance mechanisms that keep agencies accountable..."