Field employee expense management software works in real-time GPS tracking and geo-spatial data play a crucial role in its functioning. Field executives request reimbursement through the app and the immediate manager receives a notification instantly. Every time the manager approves the request, the next-in-line manager receives the notification for approval. The entire claim trail works automatically. The claim request gets denied when the expense limit for a particular category is touched.
Expense Management Software
Streamline employee expenses, claims, and payments.
Automate Expense Settlements
with Expense Management Tool
If employees get in the field for work, they need extra allowances to work stress-free. So what happens when hundreds of employees make daily transactions of thousands of dollars collectively?
Controlling the expenses, assessing proofs, and processing claims are different tasks that different people manage. The automated expense management software by TrackoField brings all the aspects into a single platform.
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What Our Expense Management System Offers
Keep a close eye on team expenses and automate the expense settlement process with an advanced expense management tool.
Hierarchy Approval
Software-enabled expense management system doesn’t approve spend claim requests automatically. You may set a multi-level approval hierarchy and managers check, assess and approve the request manually.
Expense Evidence Upload
Executives can upload bills and evidence of expenditure to support their claims. They can share them either in the jpeg, png, or pdf format. The proofs of expense are visible to every manager in the approval hierarchy.
Real-time Status Check
Executives can check the status of their claim requests on the app. Managers involved in the approval process also have access to check requests in real-time. Executives will get a notification every time the status is updated.
Cap on Expenditure
Managers or the management can put a cap on expenditure allowance team-wise, category wise or designation-wise. The system will not accept the feed once the executive meets the spending limit.
We Sustain Rise In Categorise
TrackoField allows you to segregate expenses into categories for hassle-free expense management.
Travel
Define a limit on bike and car spending.
Food
Freedom to eat, treat, work and repeat.
Stationery
In case your team members need any!
Custom
Create custom categories for different needs.
Stress Less, Save More
Expense Tracking Software
Software-enabled expense management solutions can bring a massive difference to the overall efficiency of the team.
Save More Time
Apply, process or approve expense requests in a jiffy. Hence, reducing time wastage and improving productivity.
Better Management
Employee Expense management software simplify and streamline the expense settlement process.
Build Trust
The details of expense claims and evidence are open to all the members involved throughout the hierarchy.
Spend More Time Working, Less Time Managing
For people who think work is worship but feel management is war, TrackoField is a warship that’ll take them really far. Our employee monitoring solution is well equipped with features to automate the expense claim settlement process.
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Conveyance Expense
Travel is one of the biggest expenses made by field employees. Therefore, we designed a dedicated module for conveyance spending. Define the expense limit on bike and car travel and keep the budget under control at all times.
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Transparent Claim Trail
In a multi-level approval process, more than one manager reviews the claim request. The claim trail is visible to all the managers and the claimant. The edits made by each manager to the request.
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Reliable Approval Procedure
Claimants are required to fill in the description column in the claim application. Managers can approve the total expenditure mentioned or deduct a certain percentage based on the explanation.
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Matter of a Few Click
Our field employee monitoring software has confined the long and tedious process of reimbursement and expense settlement to a few clicks. Once all the managers approve the request, the accounts team receives the notification to process the payment.
We Spare No Expense
to Deliver You the Best
Our employee management software offers expense management automation and digitisation but also helps you speed up your operations. We take geospatial data into account for more accurate results. AI and automation-powered employee management solutions are the future of field operations.
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Easy Request
Request for expense reimbursement software on the fly at any time. No need to dedicatedly sit to collecting evidence, filling out forms, and waiting for the manager during office hours.
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Smooth Approval
Managers do not need to entertain every executive individually to acknowledge their claim request. They can review all the requests and answer all the claims in one go.
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Cumulative Database
Every change made in the request by the managers along the hierarchy gets archived with a date. Managers can access the requests that are assigned to him/her.
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Expense Reports
Get accurate expense reports by categories, teams, designations, or individuals. Make insightful decisions about future spending and allowance policies.
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Frequently Asked Questions.
If you don't see an answer to your question, you can send us an email from our contact form.
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What is Expense Management Software?
The best Expense management system simplifies the time-consuming process of expense settlement with the help of software. Automation and AI-powered platforms reduce the scope of error and get better control over individual employee expenditure. The best part is that software-aided management offers accurate analytics and improves decision-making.
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How do Expense Management Solutions work?
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Is your expense management software beneficial to every industry?
Yes, our employee monitoring software caters for the needs of every industry that has a massive field workforce. Field employees require extra allowances and expenses to manage their overheads. Manual reimbursement is a time taking process that involves too much paperwork and mishandling of expenses. The benefits of expense management software for any industry include negating the possibility of human errors and simplifying the settlement for managers. If your industry requires a similar application, then TrackoField is for you.
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Do I Need Expense Management Software?
Yes! As long as your executives are making expenses out of their pockets on the field, you need an expense management tool. With the help of this software, you can keep track of expenses in multiple categories: - Expense per category - Expense per employee - Expense per time period This tool can help you keep a record of all expenses through insightful reports, and manage expense status in real-time.
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How to automate expense management?
The best way to automate online expense management software for your field employees is by adopting an automated expense management software. Through this software: - Employees can upload receipts immediately - Managers can check receipts in real-time - They can approve or deny the expense reimbursements - All monthly expenses are recorded - The software will display a ‘completed’ status once the reimbursement amount is credited.
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How to buy expense management software?
The process of buying expense management software is simple: - Browse the market to choose an expense tracking tool that fits your needs - Contact the software provider and get a demo - Consider the costs and features offered - Make the final purchase The best expense management software provider will help you with the onboarding process and offer you support if you face any technical issues.
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Why is expense management important?
Field employees make several expenses on the field from their pocket. Since these field expenses often vary, it is better to track and reimburse, rather than setting a budget for them. With the right expense tracking software, you can check and keep an account of all expenses made on the field. Also reimbursing them on time improves employee retention.
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What is the best way to track expenses?
The best way to track expenses is through employee expense tracking software. This automation tool allows employees to add receipts on the go while creating a total expense report for you to evaluate and strategize on later. Through this software, you can also track reimbursements and expenses per employee.
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What are the standard features of expense management software?
The standard features of an automated expense management software are: - Uploading expense receipts - Capping expenditure - Real-time expense tracking - Expense categorisation - Report generation - Expense status tracking With all these features packed into one expense management tool, you can be on top of all the outflow on the field effectively.
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What types of expense management software exist?
The various expense management software you can find in the market are: - Manual Tracking Software: Only allows executives to manually add expense values or receipts - Automated Expense Management Software: Managers can see every time an executive adds an expense. They can deny or approve requests in real time, and manage the expense status (pending, complete, etc)
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What are the challenges with expense tracking software?
The most common issues in expense management automation are: - Manual errors - Over expenditure - Complex reimbursement However, the best expense management software like TrackoField overcomes all these issues through: - Verified expenses via uploaded receipts - Real-time expense monitoring - Capping expense per employee or category - Expense status visibility
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How can expense management software help me with end-of-the-month closing?
One of the best features of expense management software is that it tracks expenses per month, and per category. Therefore, whenever executives add expenses, their records are saved. At the end of the month, managers can reimburse all those expenses while also getting a category and employee-wise understanding of expenses made on the field.
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