Simplifying Expense Management with Digital Receipts

Sep 22, 2020 | Findity blog

Each year 4 billion receipts are created in Sweden, with 200 million of those related to company purchases. In the UK, that number stretches even higher and reaches just over 11 billion receipts per year. And based on those two countries alone, it’s safe to say that the number of receipts created globally is enormous.

The majority of receipts created today come from paper, which isn’t sustainable — especially considering the fact that more than 250 million gallons of oil, 10 million trees and 1 billion gallons of water are used to produce paper receipts each year in the US alone.

Digital receipts have been praised as a much more environmentally-friendly alternative and deemed to erase the need for paper receipts. On top of that, consumers nowadays expect to see an increase in digital receipts in the near future.

For businesses, digital receipts have many benefits. It’s not only a more sustainable alternative, but for an organisation’s expense management process, there are many benefits to enjoy. For example, since a digital receipt doesn’t need to be interpreted, like paper receipts need, cheating and errors – such as submitting multiple expense claims – are eliminated.

Employees also benefit significantly from digital receipts, as the entire expense process becomes digital, fast and accurate. At the same time, administrators and managers save tonnes of time and headaches chasing employees for their paper receipts. We turned to some of our expense management partners who strongly believe in the benefits of digital receipts within expense management, to ask why they think it’s essential to enable digital receipts in their solution and which benefits their customers’ experience.

Why is it important to enable digital receipts to be used in expense management?

“For us at Azets, it is important to be at the forefront when it comes to digitisation and to offer our customers the most flexible solution on the market. Expense management has traditionally been a time-consuming process, but with a digital and automated expense solution, like Azets Expense, the process has become both easy and efficient. Digital receipts are the next step in the digitisation of expense management, and with more stores offering digital receipts, the customer experience for both purchases and expenses will reach new heights.”

Stefan Ingelgård, Director Technology & IT, Azets

“At BDO, we work in an entirely digital process, even in the cases where our customers have paper receipts that they scan and send to us, or if they submit receipts attached to emails. It is my vision that administrative tasks for businesses and agencies are further digitised, to provide higher quality, safer handling and faster processes. Therefore, it is a no brainer for BDO to enable digital receipts for our customers. Everyone becomes winners. Especially the environment, as the entire chain is guaranteed to be paperless.”

Ulrika Strömberg, Business Area Manager Company Services, BDO Sweden

How does digital receipts impact the expense process for end users and organisations?

“ICA’s digital receipts together with Entré Utlägg truly simplifies all the small purchases we have to do for the office” – Receptionist

“Being able to email my digital receipts directly to Entré Utlägg speeds up my own administration.” – Salesman

“As an administrator of Entré Utlägg, I have more control and better overview as the end-user is responsible for attaching the receipt in a digital format.” – Administrator

Collection of quotes from users of Entré Utlägg, Hantverksdata

“Digital receipts simplify the expense management process for our customers’ corporate purchases. Digital receipts eliminate the risk of duplicate receipts and expense claims automatically, which is fantastic for businesses, and for users, the experience becomes incredibly convenient and 100% digital.”

Stefan Ingelgård, Director Technology & IT, Azets

“By using digital receipts, companies save administrative time, and the quality increases as no interpretation of data is needed. The end user’s effort is minimal, receipts do not disappear, and reimbursements are much faster as the whole process is shortened.”

Ulrika Strömberg, Business Area Manager Company Services, BDO Sweden

Digital receipts keep on pushing the digitisation of businesses’ administrative tasks and expense management, which is beneficial for all users throughout the process. Expense claims are completed accurately, fast, and on-the-go – at Findity we call it the New Generation of Expense Management.

Are you looking to create your own expense management solution?
Explore our customisable and white-label expense management platform here.

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