Gorilla Expense has been placed in GetApp’s Category Leaders for Expense Management Software, Capterra Shortlist, and Software Advice Front Runners Report again after first receiving the honor last year.
GetApp Category Leaders, Software Advice Front Runners, and Capterra Shortlist highlight leading softwares by measuring ease of use, customer support, functionality, value for money, and likelihood to recommend. The scores are arrived at via a research team that thoroughly investigates public data and customer reviews. After analyzing hundreds of solutions and thousands of evaluations, they compile a list of the finest in the business to assist SMBs in evaluating the best products on the market.
Gorilla Expense was delighted to be recognized on GetApp’s list of category leaders in expense reporting software for the first time in 2021, and they’re honored to have been recognized again by the coveted Gartner Digital Markets research reports for their customer-centric approach to expense management.
Gorilla Expense was established in Duluth, GA after its founders learned about the frustration and dissatisfaction with the existing expense reporting software products on the market. The founders adopted a novel approach by developing an expense reporting solution that prioritized customization over a ‘one size fits all’ strategy.
The software’s capabilities include reconciliation of corporate credit card statements, recording project related time, and employee expense reimbursements. Gorilla Expense users can obtain a comprehensive overview of spending within their business using the numerous reporting alternatives available, which include 100% expense visualization. Gorilla Expense’s intuitive design makes it easy for employees to adopt, integrates smoothly with third-party accounting apps, and doesn’t enforce tricky contracts on its users.
Gorilla Expense’s team appreciates the support of Gartner Digital Markets, its customers, and community for continued success. The company will continue pursuing its goal of enabling SMBs throughout the world control their spending and have a clear understanding of their finances.
What are you using as your business travel expense tracker? Are you still using pen and paper?
Perhaps many of you are having a hard time moving away from your paper-based system. After all, it has worked for years. But don’t you think it could be way better?
Let’s face it. Paper-based systems are riddled with inefficiencies. They are prone to human error, not to mention fraud. The exhaustive paper trail is also tedious, not to mention frustrating. There is a need for human intervention every step of the way, and this takes your employees’ time away from the work that they really should be doing.
Take a huge burden off your finance team by empowering your employees to adhere to compliance policies on the ground. Having an automated travel expense tracker allows you to also reduce expense frauds and other compliance issues that can cost you in the long run.
Increased Visibility into Your Finances
Automated expense trackers allows you to know, even in real time, just where your money goes. This allows you to have a better picture of your cash flow within a given period, or even see if you’re going over-budget on a particular project.
Tax Deductions and Audits
It’s important that you handle your expenses properly so that they can be marked as a legitimate expense and are therefore qualified for tax deductions. Having a tight handle on your expenses also allows you to have clear records and audit trails to reflect how well you also manage your finances.
Happier, More Productive Organization
Making it easier for everyone in your organization to create their travel expense reports and making the flow much smoother is a win-win for everyone. Automating, simplifying, and streamlining your processes speeds up expense reporting and reimbursements.
This said, what then should you look for when it comes to a travel expense tracker?
What to look for in travel expense trackers
There are many automated travel expense apps available today. And it’s easy to be drawn to the loudest one, with the most bells and whistles. It can also be easy to be confused as to what you need or what you want.
The secret to find the travel expense tracker that’s right for you requires that you consider these factors:
It should be user-friendly
It should support multiple users and with multiple permissions
It should accommodate your approval workflows
It should help enforce your business travel compliance policies
It should be able to scale with you as you grow your business
It should help you cut down your costs
It should help you streamline your processes
It should help you become more productive
It should provide visibility
It should provide insightful reports depending on how you want your data to be analyzed and displayed
At Gorilla Expense, we’re taking expense tracking to the next level by allowing you to have cloud-based and on-premise options. We also tailor fit a solution that best supports your company’s needs. You may check out our demo for more information, or better yet, get in touch with us today!
Small businesses face a different set of challenges that many large companies have already overcome or haven’t even experienced. For small businesses, they have so many coordinates to connect but may not be able to address. Maximizing capital, minimizing expenses, identifying financial pain points, navigating operations, and channeling funds for growth are just some of these.
So where does expense management come in? Read more
As a company, if you’re not worried about expense fraud–then you should be. In fact, according to a study conducted by the Association of Certified Fraud Examiners, expense reimbursement fraud makes up 15 percent of business fraud. Because of this, businesses suffer an average loss of $26,000 every year.
To make things worse, it takes around 24 months for any of the fraud to be detected. Therefore, before the problem and perpetrator are pinpointed, much of the company’s money has been used up for fraudulent purposes already.
Employees who commit expense fraud often say that they add additional expenses in their reports as a way to “even out” their previous reports. They may have forgotten to input some expenses previously and are making up for them now. It becomes a guessing game of inaccuracies and unaccounted adjustments. In the long run, this can unnecessarily cost the company a lot.
So how do you remedy this?
Remedy Expense Report Fraud by Taking These Steps
Let’s take a look at how companies can reduce expense fraud.
Track expenses much easier by requiring your employees to create one expense report per trip. Require them also to submit it as soon as they get back.
Make the most of every transaction and even get perks by getting your frequent travelers corporate credit cards. These can also allow you to more transparency for every transaction and get immediate credit for canceled ones.
Charge future-dated travel to a corporate charge card.
Establish a policy that requires most senior employees at a meal to pay the check. This helps avoid fraud, redundancy, and duplicate transactions.
Employees who submit hard-copy receipts and manually filled spreadsheets are more likely to commit fraud. Avoid this by creating steps to automate the expense reporting process.
Centralize travel expense processes for better management and visibility.
Validate expenses against corporate policy. This helps deter and prevent employees from entering a non-compliant expense. At the least, it creates a system that allows them to explain the charge for quick review and approval
Implement a solution that can automatically identify and flag different kinds of expense fraud.
Don’t Rely on Band-Aid Solutions for Expense Fraud
Remedying expense fraud doesn’t have to be tedious and time-consuming. Worrying about compliance should not give finance such a hard time that inefficiencies happen. Trying to police each and every expense item should not be done at the expense of company productivity. That’s why many automated solutions should be in place.
Gorilla Expense, for example, will identify any duplicate transaction the user may have entered by searching for similar transactions across the system. With our Receipt Scan solution, we also flag transactions on which the amount does not match the amount shown on the receipt automatically. The screenshot below shows how the system flags duplicates and transactions where receipt amount does not match the amount entered by the user.
In addition, our “Expense Policy Violation Reports” section will show you the top expense policy violaters in the company and also detail each violation.
With Gorilla Expense in place, you can be on top of all your expenses with better visibility, better compliance, significantly less fraudulent expenses, and much more peace of mind. At the same time, employees can find it easier to comply and submit expense reports. This helps get all the pain and hassle out of the way.
Expense management systems are in place for two primary things: to track and manage how a business spends its money. However, if you have an inefficient system, this can also spell financial loss for the company. Read more
An efficient and streamlined travel and expense management solution can do wonders for the company. Aside from reducing costs, maintaining budgets, and ensuring compliance, a simple and convenient solution can also boost employee morale. Read more
Business travel is a necessary part of business development and operations, especially in our increasingly global landscape.
However, employees often find reporting their business travel expenses a major pain point. This is because business travel accounts may be a time-consuming process and in fact, some processes may even take longer than the trip itself. Read more
It’s a fact–every business or organization will have to deal with expenses. And these expenses have to be recorded, reported, and processed. These have to be verified as well.
However, despite the times and technologies we have today, there are companies that still rely heavily on paper-based and manual expense reporting. Many employees may not complain as they are used to the way they have always done things. However, what they don’t know is that they may be missing out on so many things. Read more
Employee travel and expense management can be complex and time-consuming. If the system is slow and inefficient, as well as fraught with errors, it’s not an ideal situation. In fact, far from it. There are many disadvantages to ineffective expense management that can cost both the employees and the company in the long run. Read more
Why Customers Love Our Solution
High User Adoption
Fastest & Most Accurate Receipt Scan Engine. Period.
Features + Security = Enterprise-Grade Solution
Included Integration with Back-end Accounting Systems- No Third Party to deal with
Included Responsive Support
No Long Term Contracts Or Overage Penalties.
Pay Per User or Pay Per Report
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