TeamNest Use Case - Automated Expense Reporting

Business Challenge

Employees often pay for business expenses and request reimbursements by submitting an expense report. This process can be tedious for employees when done manually. And expensive for organizations when expenses are not tracked and verified efficiently in the offline mode before reimbursement payouts or allowance adjustments.

TeamNest Solution

TeamNest automates the expense reporting and reimbursements process for organizations. Using the Expenses module, HR teams can create custom approval workflows, and employees can raise business and travel expense requests on the go, upload receipts from their mobile phones, and submit requests for reimbursements. TeamNest provides automated expense reporting with - 

• App-based expense tracking for reimbursements
• Customized expense approval workflows
• Track the GST component for the set-off
• Track project expenses for budgeting.
• Categorize by Travel, Business Promotion or any other desired Expense Head
• Custom categories to capture expense headers for your business
• Custom approval workflow for reimbursement requests
• Tax adjustment calculations for expense claims

Potential Business Impact

• Increases spend visibility
• Better cost control
• Helps with budgeting
• Detects violations and frauds
• Improves reimbursement accuracy
• Simplifies tax deductions