The five biggest challenges of employee reimbursements

When employees have to pay using their own money, it can leave them short of funds and waiting for days, and even weeks, to be reimbursed. In these cases, employee morale is low. Instead of focusing on their work and output and feeling  empowered to spend for work, they're worried about money and making ends meet.

There’s  no visibility over spend

You didn't have visibility over what was bought or control over how much was spent. Also, how can you close your month effectively when you don't even know how much has been spent until the last few days? And, that's if everyone actually submits their expenses on time. It's a mess. 

You can’t control spend limits or assign spend to budgets

What are Payhawk’s spend controls?

1. Spend limits per personal company card, and team cards
2. Easy fund requests so that employees can request more funds (and give a reason why) if their limits don't cover their needs
3. Workflows assigned to different amounts so senior team members/managers can sign off fund requests according to the amount 

You can’t encourage easy receipt management

With Payhawk, you simply spend with the company card, snap a photo of the receipt for the app, choose your spend category, and you're done. The OCR tech within the app pulls the data out of the receipt, so the finance team has everything they need to close the month or get audit-ready. There is no receipt chasing, no saving receipts, no lost receipts, and definitely no hours of manual data entry.

Manual data entry of receipts etc

What's more, ​​Payhawk integrates with all of the most popular ERP and accounting systems, meaning that the correct data is pushed into the correct system with minimal effort. 

What about those times when employee reimbursements are 100% necessary? 

At Payhawk, we understand that these occasions pop up now and then. Say, for example, where you have an employee who doesn't typically spend for business, and they need to make a payment. Thanks to our one-click employee reimbursement, you can pay the employee directly into their bank account quickly and simply.  

Ready to learn more about easy expense management and employee reimbursement? Book a demo. Or download the data-driven decision-making checklist to learn more about the importance of visible spend data and controls.