From XU Magazine, 
Issue 30

How disruptive tech solutions are benefitting small business

UItilising the right tech to help automate processes is critical for both survival and profitability for millions of small and medium businesses around the globe. Whether you have 1,5 or 200 employees, it is now essential that you source the best tech solution to automate as much of your business as possible.

As this technology is evolving it is inevitably disrupting more traditional business processes and established sectors. New banks are offering simpler, cheaper and quicker solutions for small businesses, accountancy software is always evolving to make managing your accounts and invoices much easier, cyber security solutions are helping owners keep data safe and GDPR compliant and expenses apps are making managing and monitoring staff expenses a simple and painless experience.

The impact of the pandemic on our working life caused a technological revolution that was bubbling away slowly, to explode as so many disruptive solutions which used to be ‘convenient’ pre-COVID have now become critical tools. Businesses simply cannot survive without Zoom calls, Slack chats, remote systems, cloud solutions and many other tech solutions. These are now a major part of our working day, and so many disruptive technologies have adapted quickly to the ‘new normal’. In the last 18 months, many services have advanced in what ordinarily would have taken years and this has made many business owners moving away from traditional methods and sourcing disruptive tech solutions to help them manage and grow their businesses.

This March, ExpenseOnDemand is teaming up with the SME Club and the ICAEW to host a live seminar about how tech disruptors are helping small and medium business owners manage business processes and free up their time to focus on the important aspects of running their businesses. The seminar will cover many topics including how as technology continues to rapidly impact business processes, many firms will need to collaborate and offer open APIs to allow seamless integration and for multiple software’s to be able to talk to each other. This has already been happening across many sectors, such as FinTech for years as accounting, expenses and internet banks integrate to allow a completely coherent solution for businesses. 

For many years, the ExpenseOnDemand app has been offering our clients around the globe a simple solution allowing employees to remotely upload and claim business expenses from any mobile device, including approving them on the phone. And it integrates within minutes with Xero, to automatically upload all transactions. How cool is that! Our very own disruptive tech solution meant we were, therefore, perfectly placed to help our clients when the pandemic struck in early 2020 as their staff dispersed from offices and worked from home due to global lockdowns.

Apart from offering over 100 functions to choose from, Xero users can, for example, set up their own approval hierarchy and businesses can build their bespoke subscriptions in minutes, and only pay for functions they use – not the whole application. Additionally, we offer a simple “pay as you use” pricing model keeping costs completely manageable and flexible. 

How does ExpenseOnDemand benefit businesses and their staff?

ExpenseOnDemand works seamlessly with staff working remotely or hybrid.  Employees no longer need to send paper claims to claim their expenses and they can benefit from: 

  1. Claimants and Approvers can use the app within minutes.
  2. Photograph receipts and submit & approve expenses in seconds. 
  3. Approvers can view and manage all historical claims. 
  4. ExpenseOnDemand ensures no duplicates with any employee claims.
  5. Expenses can be made in any currency. 
  6. Finance can choose from 100+ functions.  

Businesses can also benefit from:

  1. An increase in staff productivity, by spending minutes, not hours on expenses completion. 
  2. Automation helps stop fraudulent claims, saving business thousands every year
  3. Our ‘pay as you go’ solution allows flexibility to reduce / increase usage. 
  4. Our monthly, no long-term contracts or commitments. 
  5. Analysis we provide, and recommend ways to how our clients can reduce costs.
  6. We offer a multiple currency subscription solution that allows expenses in any currency, even crypto.

What do Xero customers say about ExpenseOnDemand

“Earlier we were paying a fixed cost for the whole application to our earlier expense automation vendor. By using ExpenseOnDemand, we have reduced this by 50%, and only pay for functions we use.” Ron Pious

“Flexible expense solution with simplified approval process from line manager to Finance approval” Anthony Holmes

“During Covid we were lumbered with a hefty, fixed charge for our expense application.  Since we have started using ExpenseOnDemand, we have had 2 lockdowns, and we have been able to reduce our costs dramatically.”Peter Lyons

“Covid brought to the fore that we must have flexibility.  ExpenseOnDemand offers rolling monthly contracts, including the ability to “pay as you go.”Kerry Hester

The team at ExpenseOnDemand have been adapting their market leading app since the start of the COVID-19 pandemic. Our SETUP videos navigate the customer, step by step, to configure each function, in minutes.  Customers can set up each function at their convenience & pace.  We are working hard to make it easier for finance leaders and staff to manage expenses in the new normal, especially with so many employees still working from home. 

I also co-host a leading business podcast, Small Biz Banter, with the founder of The SME Club. Join us for some interesting tips and light-hearted chat with expert guests who offer advice and info for small business owners, directors and employees. So far, we have had the CEO of Tide Bank, Director of the Federation of Small Businesses (FSB) and many others. Subscribe today on all podcast platforms.

Why leave it there?

To find out more about Expense On demand

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