From XU Magazine, 
Issue 31

How one size fits all tech solutions are hindering SMEs as much as helping them

Utilising the right tech to help automate processes is critical for both survival and profitability for millions of SMEs 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.

Is this technology is evolving it is inevitably changing more traditional business processes. New banks are offering simpler, cheaper and quicker solutions for SMEs.  Accountancy software is always evolving to make managing your accounts and invoices easier, cyber security solutions are helping owners keep data safe and GDPR compliant.

However, ‘one size fits all’ tech solutions are actually hindering businesses and impacting profits for millions of firms. A recent survey* highlighted that only 1 in 5 business owners would describe themselves as tech savvy and therefore the majority of businesses either need a tailored and intuitive solution or they will struggle to utilise tech that was actually developed to support them.

We speak to so many SMEs that are paying for tech that they can’t use, or the solution simply doesn’t work with their current processes. Managing and monitoring employee expenses is challenging especially with a remote workforce. That is why we offer a flexible and tailored solution and work with our clients to match their needs.

Accounting and Expenses software is a great example of how tech giants have built platforms that are used universally but offer little tailoring or personalisation. And, for many SMEs, they don’t offer interfaces or solutions that are actually that helpful or intuitive. As more employees work remotely, expenses have become much more complex to manage and no two businesses have the same process, but the majority of the tech available expects businesses to upload and manage expenses in the same way.

At ExpenseOnDemand, we integrate and transfer data between Xero/Sage and QuickBooks ensuring the app remains a market leading service, but we also allow businesses to hand pick what services they need, and we can tailor our solution to mirror their current business processes rather than forcing them to change to match our tech.

We have also updated the app to make it easier for the new normal as employees work from home and businesses are turning to technology for simpler and automated solutions. 

Apart from offering over 100+ functions to choose from, Xero users can, for example, set up their own approval hierarchy.  SMEs 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.  

SMEs 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 SMEs 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 help our clients to understand how they can use our app and reduce costs.

6. We offer a multiple currency subscription solution that allows expenses in any currency, yes, even crypto.

What do Xero customers say about ExpenseOnDemand

Recommended app with simple Xero integration. 

Our employees needed something simple and easy to use, and ExpenseOnDemand was the answer. The process of submitting and approving the expense is so simple and seamless. This app has made a difference in getting expense reimbursements to be completed on time. I would recommend using the app. 

- Macy Cocoa

Flexible expense solution with simplified approval process from line manager to Finance approval.

ExpenseOnDemand provides a solution where we assign an approver to each employee. Their flexible solution has simplified our approval process with visible workflows and now has an approval process which starts from line manager to finance approval. We recommend to all to trial the app.

- Anthony Homes

Thank you ExpenseOnDemand for building & delivering to solve our problem.

We are a small business of 42 employees and have been using ExpenseOnDemand with Xero since Dec 2019. 

The challenge we were facing was that we were not able to track and link our employee business spend to the individual suppliers.

- Catherine Baker

The team at ExpenseOnDemand have been adapting their market leading app since the start of the COVID-19 pandemic and are working hard to make it easier for finance leaders and staff to hand pick the functions they need and seamlessly manage expenses cost-effectively and aligned with their current processes.

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.

We are always looking for guests to join us so if you are interested please get in touch by emailing us – support@expenseondemand.com

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