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Expense Tracking – The Features That Every Organization Needs

Expense Tracking is a very daunting task, especially if one is working in an organization where projects and their successful completion is dependent on how well these resources managed. The efficiency of one and how they utilize the minimum resources to maximize the profits and potential is all dependent on the manager or supervisor. The question arises how to make the manager’s life easier?

There is multiple software that is available in the market that makes it easier for managers to keep track of how much time their employees and team members are spending on a task, but not many offer a system that helps to effectively point out the discrepancies of when and where the money spent.

Expense tracking software often comes with time tracking software as with Livetecs’s TimeLive. Extremely easy to use, this software doesn’t particularly help you cut down on costs but tells you where and when you are spending money, so you can look into integrating better solutions at the workplace to improve work productivity.

One of the benefits of using the expense tracking software is that it will allow managers to see the expenses incurred against projects and help them understand better on where to put the necessary barriers on a project to control expenditure.

TimeLive’s Expense Tracking software allows full customizability to its customers, for every place has a different taxation policy and currency. This software takes the majority of the work off of your back, letting you perform your desired tasks with ease and efficiency.

Another feature that is extremely useful is the Expense Entry View that provides expenses for every project. The software has custom approval paths, meaning only approved personnel can access the expense sheets and put in the data as per the project needs, etc.

Often, companies have projects coming in from all over the world and therefore keeping track of all the different exchange rates and histories can be hectic. The TimeLive’s expense tracking saves you the hassle of conversion and does the work for you.

Furthermore, you can set up email notifications and reminders as per your needs for certain projects, and you can also set reminders for when to pay someone for their input on projects.

The usage of this expense tracking software is fairly simply, and as it is automated it doesn’t require any extra effort on your part; for the sole focus of such software is to increase work productivity within the organization and make work hassle-free.

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