Unfortunately, expense reimbursements are a reality of lengthy processes. An employee manages to use his/her funds for the expenses and forwards the expenses for claims to his manager for approval and the manager forwards it to the finance team to review and process payments, all these processes are hard, lengthy, time-consuming, and prone to errors as it involves everyone.
In view of employee experience, issues pertaining to reimbursements can have a negative impact on the levels of satisfaction of the employees. As a result, employees are out of pocket and cash-strapped.
It is critical to be informed of the important grievances pertaining to expense reimbursement and the most common problems they encounter when making requests. Employers can use this knowledge to improve the process and significantly increase employee satisfaction.
By implementing complicated, manual processes, employees may be discouraged from claiming expenses, making budgeting, and forecasting difficult, and slowing down expense payments.
Delays in payment
Employees’ most common complaint about the expense process revolves around reimbursement delays. Employees are frequently left out of pocket for an extended period because of ineffective expense management. Data entering for expense information or attempting to connect multiple apps and software to verify the bills is a time-consuming process. This results in a negative employee experience and frustration, which directly impacts productivity.
Having to use personal funds
Employees are frequently left out of using personal funds initially due to the urgency of the work, which usually results in empty pockets at the end of each month, bringing an added financial burden.
When it comes to expense reimbursements, one of the most important factors for claims is the bill receipt to be provided during claims. As employee complaints misplacement of receipts.
The expense policies are ambiguous.
The company policies for expense claims are unclear to employees, so employees with little knowledge claim for all expenses, resulting in pending bills that must be resolved by the finance department.
Questions and comments arise about expense items that are frequently raised across multiple approving authorities during the approval of the claims and there is a lack of proper coordination between the person who claims and the approver and hence resulting in delayed payments.
HR Chronicle has an expense management feature, which simplifies the process for your team and provides HR and employees with a smooth and efficient expense reimbursement process, to optimize employee experiences and make the process hassle free.
HR Chronicle allows employees to request expense claims from Employee Self-Service or Mobile Application by attaching the document/bills, making the expense more transparent and allowing for faster claims. As HR can designate an approver for claims to the finance department, the finance department can view the claims and immediately release the expenses to include in payroll or separately. As a result, the HR Chronicle simplifies and streamlines the entire operation.
Have a question, want to get started on your HR automation journey? Please contact our team for any inquiries on pricing and licensing. We will be glad to assist you. You can also visit us at https://www.hrchronicle.com or email us at: email@example.com. You can also call us +971 4 3383775 or WhatsApp +971 55 650 6260.