If your company has invested in an expense management system such as Concur, Expensify, or Certify, you have probably found it to be a great decision. However, if logging business mileage requires manual reporting, there's a problem. It's time to investigate.
Expense systems and business mileage tracking
Most expense systems offer a mobile app that allows employees to take pictures of receipts and record trip information on the go. Plus these apps usually integrate with the travel tools and policies in use by the business. However, these expense tools tend to fall short when it comes to mileage log features. This is because many expense tools still require employees to log mileage manually.
It is vitally important to find out whether your expense system offers an automated mileage tracking app, or if employees must manually log their trips. This will determine whether the company saves or loses money from overpaying employees for business travel.
The cost of logging mileage in an expense system
Keeping a mileage log with an expense system can be quite time consuming. In fact, it often takes around 3-5 minutes to log one single round trip. If your employees spend more time driving than flying, they could be spending a significant amount of their time each month monitoring and logging mileage, even though you have one of the most up-to-date expense management systems on the market.
In certain industries, employees may have 2-3 business appointments a day. If they were to spend 3-5 minutes manually entering data for every business appointment, they will need around 15 minutes per day to complete this admin task alone. That’s over an hour per week and may add up to five hours per month—time better spent on revenue-generating activities.
Some expense systems also necessitate users to keep a separate log to record company names, addresses, dates, and reasons for travel. At the end of the month the mileage needs to be manually entered into the system. This leaves opportunity for error. Employees may overestimate mileage or enter it incorrectly in the system (fat finger syndrome). This costs your business both in employee time and in over-reimbursement.
Mileage tracking apps: better than a manual mileage log
Thankfully, there are GPS mileage tracking apps that can work alone or directly with your expense system to enhance your expense management process. The best GPS mileage applications integrate with tools like Concur, Expensify, and Certify to easily log and calculate business mileage. Mileage and expense automation will save your organization both time and money, especially in the form of over-estimated business mileage.
CRM mileage logs also offer a viable option with full visibility of business travel analytics and productivity, offering valuable insights into business travel ROI. These features enhance your ability to measure and increase the productivity of your business. Best of all, your CRM mileage log reports can be easily uploaded into the expense management system to make both the front line users’ and the administrators’ jobs easier.
Expense management, automated mileage tracking, and CRM analytics all integrated together—sounds great, doesn’t it? Contact mBurse now so that we can show you how our GPS and CRM mileage logs can help you to make the most of the existing investments you have made into your expense tool, your mobile devices, and your CRM.