Bottlenecks in expense approvals delay reimbursements, frustrate employees, and cloud your financial visibility. Here is how to fix it.
1. Set Clear Spending Limits
Define thresholds. For example, allow any expense under $50 to be auto-approved, while anything over $500 requires VP approval. This reduces the manual workload by 80%.
2. Go Mobile
Managers shouldn't have to be at their desks to approve a receipt. Use a system like Slip-Scan that allows one-tap approvals from a mobile notification.
3. Enforce Receipt Capture at Point of Sale
Don't allow "end of month" bulk submissions. Require employees to scan the receipt instantly. This improves data accuracy and spreads the approval workload out over the month.
4. Automate Policy Checks
Why have a human check if a receipt is older than 90 days? Let software flag policy violations automatically before they even reach the approver.
5. Sync to Accounting Instantly
Once approved, data should flow immediately to Xero or Sage. Manual re-entry is where errors happen.