Infographics Blog: Transforming Expense Management with Digital HRMS
Manual expense management is time-consuming, costly, and error-prone. Digital HRMS offers a smarter, automated way to streamline the entire process, improving accuracy, speed, and employee satisfaction.
1. Time Efficiency
Challenge: Manual processing slows down reporting and approvals.
Insight: Companies using automated expense systems reduce processing time by 67%.
Digital HRMS Solution: Quick submission, real-time tracking, and faster approvals with mobile-enabled workflows.
2. Cost Savings
Challenge: Manual expense processing is expensive.
Insight: Average manual expense report cost is $26.63, while automation cuts it to $6.85 – a 74% savings.
Digital HRMS Solution: Automates processing to drastically reduce costs and operational load.
3. Error Reduction
Challenge: Manual entries cause mistakes and compliance issues.
Insight: 20% of expense reports have errors, costing $52 and 18 minutes per correction.
Digital HRMS Solution: OCR scanning and in-app policy validations reduce human error and ensure compliance.
4. Faster Reimbursements
Challenge: Delayed reimbursements lower employee satisfaction.
Insight: Automation reduces reimbursement times from 12+ days to a few hours.
Digital HRMS Solution: Smart routing ensures timely approvals and faster reimbursements.
5. Mobile Accessibility
Challenge: Field teams need on-the-go expense reporting.
Insight: 70% of employees prefer mobile tools for expense management.
Digital HRMS Solution: Enables expense submissions anytime, anywhere via mobile app.
6. Enhanced Visibility & Control
Challenge: Manual systems lack real-time oversight.
Insight: 61% of companies report better visibility post automation.
Digital HRMS Solution: Offers dashboards, insights, and analytics for smarter decision-making.
Takeaway:
Digital HRMS transforms expense & reimbursement processes—cutting costs, saving time, and empowering employees. It’s the future of efficient workforce management.