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Completing business expense reimbursements for the entire company can be an extremely cumbersome and repetitive task. As employee expense volumes mount up month on month, the reimbursement burden on finance teams becomes real. Having the capability to reimburse employees instantaneously from ITILITE with ACH payments in expense can help save a lot of time and effort for you.
ACH payments from ITILITE Expense can improve your company’s expense reimbursement process and enhance efficiency by 5x in the following ways:
The primary benefit of ACH payments from ITILITE Expense is that it saves a lot of time and effort for finance teams. There is no need to manually add expenses to be reimbursed on ERP/Accounting systems, process those reimbursements and also update the systems with processed payments. With just a single touch, reimbursements can be processed directly from ITILITE and processed payments can also be auto-updated in ERP/Accounting with seamless integrations.
Over-relying on ERP/Accounting systems to make small scale employee reimbursements is never good. ERP is considered a colossal and an indispensable software for the smooth-running of any business (large or small). Hence, reimbursing $15 for business meals to a certain employee using ERP does not make sense. Hundreds of such payments would need to be made on a monthly basis, all stuck in the ERP. Whereas reimbursing employees directly from ITILITE Expense via ACH can help reduce these dependencies.
Employees are constantly worried about payments done from their own credit or debit cards and wish to get reimbursed immediately. You can make that happen on ITILITE Expense with the click of a button. The reimbursements will be made directly to employee bank accounts within 3-4 days thus ensuring timely reimbursements.
ACH is part of the standard ITILITE Expense plan. There is no additional setup or fee required to make ACH payments to employees from ITILITE Expense. You can start today all by yourself or by contacting your account manager.
If you don’t have ITILITE Expense, request a free demo today by clicking the button below.