Do you know why it is important to keep track of the company’s expenses? Do you know what tools can help you do that? Do you want to know how the company and its employees can benefit from the digitalization of this task?

We give you the answers to these questions.

Business expenses can be many and very varied, but generally, they are the outflows of money that decrease the profit or increase the losses of the organization. Therefore, for the proper functioning and survival of a company, it is essential to have control of expenses, as this information will allow us to detect if money is being wasted in any aspect, or if, on the contrary, we need to invest in others.

In this post we are going to focus on employee expenses, since in companies that have employees moving from one place to another, the management of these expenses is a particularly tedious task that has little operational value, but takes up a lot of time and tends to get out of control.

That is why there are tools specifically designed to streamline this type of process. With a management software like Captio, we can automate tasks and have greater control over the expense management procedure. Consequently, facilitating the work of all the employees involved, who can justify their expenses and reconcile them more easily and quickly.

What is Captio and why is it the leading expense management app?

Captio is an expense management software that will help you control the management of your company’s accounting. This simple app adapts to all types of businesses and their specific expense management policy.

What are its functionalities? Many, but in this post we will highlight some of the main ones:

• Capturing expenses: with the Captio app, employees can capture their expenses with a simple photo, so that they can get rid of the paper receipts and centralize information on a single platform.
• Upload of digital expenses: all expenses received digitally can also be attached.
• Automatic reading: Captio transfers the image of the receipt to text thanks to the ICR technology, which allows us to digitize all the necessary information (date, quantity and supplier), so that this does not have to be done manually.
• Creation of expense reports: with Captio you can generate reports for trips and projects, but also receive them directly from your team and add the expenses there.
• Automatic alerts: Captio aligns itself with company policies and verifies that every expense is in line with them based on the established mandatory fields, maximum amounts, etc. If this is not the case, a warning is triggered.
• Approval flows: Captio offers expense approval flows at different levels, so that the process is as automated and transparent as possible.
• Integration with the systems used in your company (such as ERPs).

Apart from the time savings and the easiness that this digitization brings, one of the aspects that makes Captio trustworthy, is its approval by the AEAT. This means that the expense digitalization process is certified by the Spanish Tax Agency, so once the image of the expense is uploaded to the platform, it has full legal validity and you can get rid of the paper receipt.

With Captio, employees don’t have to worry about losing their receipts and can forget about the piles of paper, which relieves a huge burden on accounting managers and improves work dynamics.