It is an unfortunate fact that expense reimbursements are a painful process, to put it lightly. From the employee making a request to the managers reviewing and approving to the finance team managing payments, processes are lengthy, difficult and error prone for everyone involved.
In terms of employee experience, issues with expense reimbursements can be detrimental to satisfaction levels, leaving employees out of pocket and stuck for cash, resenting the process and as a result, the company.
It is important to be aware of the top five employee grievances around expense reimbursement and the most common issues they face when making requests. With this knowledge, employers can fix the process and significantly boost satisfaction levels.
1. Payment delays
Delays in reimbursements are probably the number one issue employees experience around the expense process. All too often employees end up out of pocket for too long as a result of inefficient expense management. This creates a negative employee experience and can cause feelings of frustration, which directly impacts productivity.
2. Complicated processes
By establishing complicated, manual processes, this can dissuade employees from logging expenses, which in turn makes budgeting and forecasting difficult and slows down expense payments.
3. Misplaced receipts
One of the main employee complains when it comes to expense reimbursements is a lack of process to prevent misplaced receipts. For example, if an employee travels for work, it is unrealistic to expect that they will hang on to every receipt for the duration of the trip.
4. Unclear approvals
With manual processes, it can be difficult to manage approval flows and ensure that the right approvers are looped-in in a timely, structured manner. Again, when approvals are unclear, it extends the payment period for employees.
5. Inefficient communication
Collaborating on expenses can be a nightmare. Questions and comments pertaining to expense items are often done across platforms; in person, email, instant message or text. This creates bottlenecks and delays that the employees suffer from, waiting for their payments.
Bayzat is on a mission to optimise employee experiences for every employee in the UAE. This includes simplifying the expense reimbursement process for your team. We have just launched Expense Management on Bayzat Benefits, which offers a seamless and efficient expense reimbursement process for both you and your employees.
Our OCR technology enables swift upload and auto-population of receipt details, removing the likelihood of mistakes and speeding up the process for employees. Users can also work in draft mode, snapping a picture of their receipt on the go and saving them within the app for later.
Side-by-side previews enable approvers to see the full picture in one convenient view. Approvers can also see expense requests in multiple currencies, auto-populated or manually set, depending on preference.
Collaboration is made easy with a comment function in the tool, again keeping the process moving and speeding up payments. Finally, custom approval flows can be set so you’re in control and can define a specific chain of approvals that work for your company.