Claims Management, which primarily tracks the expenses made by on-field employees, is now becoming an essential part of employee management in 2021. Here's why. 

Around 40% of the global population has been fully vaccinated, and more than 720 crore doses have been given worldwide. But, with so many people out of jobs, how did everyone pay for the vaccination? Well, they didn't. Other than government bodies providing free vaccination, the leaders of the job industry stepped up and encouraged their communities to get vaccinated by providing them with quick reimbursements for the same. 

Hence managing claims is becoming a more tedious task as time flows. And of course, there's the paper waste follows!  

In the CPG industry, an average company hires no less than 10-15 salespeople to achieve the desired sales. But maintaining the day-to-day reimbursements for all those sales guys results in a lot of time consumption and paperwork, with a huge scope for error which might delay the processing of funds. And a delay in payment means low funds for the employee who is expecting the payment, which can lead to employee dissatisfaction and even a lack of motivation towards work. 

And the struggle gets more real. For FMCG companies that operate over vast regions with around 100 - 1000 salespeople, glitches in timely reimbursements can lead to a bad reputation in the market. And maintaining the minute transaction details of different employees from different locations rakes havoc for managers, leading to lost claims in many cases.

Many have sought to make their employees submit expense claims during a specific period at the starting or end of the month to make the process more efficient. 

However, given the shortness of time, it's highly exhausting to check the day-to-day expense bills of hundred and thousands of people and ensure that there are no duplicates and that all entries get recorded correctly.

In some cases, to avoid the back and forth communication, companies even give an upfront allowance to their staff to cover their expenses. But since expenses aren't the same always, such initiatives often cost more to the employee or the management.

But imagine if every expense claim could be monitored and sanctioned from one single dashboard rather than going through piles of documents individually. Putting in place a proper claims management system takes away the hassle of checking efficiency and rapidly reduces the turnaround time to process claims.

Bizom Expense Claims is one such solution that fast-forwards the claims management process and makes it tremendously easy for both employees & managers to update and sanction claims.

Used by global brands like Hershey's to manage every expense of their sales staff, this solution has multi-fold benefits. Employees can update their expenses on the mobile application from any location, even without a proper internet connection. Their managers will view all claims made from one screen and process the same instantly. Digital uploading ensures that no duplicate claims are sanctioned, and no claims get lost. 

Bizom Expense Claims makes it easier to ensure all reimbursements are completed timely and gives the company a real-time understanding of all outstanding expenses. In addition, every company can easily customize the solution for the different types of claims they sanction and even add or delete the same at their convenience. 

To conclude, meeting the small necessities for the ones who grow the business is vital for any manager. And with the changing work culture, types and ways of reimbursing employees will also change. In this post-Covid era, some companies are even launching reimbursements for books and fitness to help their employees read more and stay healthier. All in the hope to make their employees more satisfied with their work-life. So, having one unified platform for all different types of claims helps build the base for efficient management.

Wondering how Bizom can make claims management easier? To know more about Bizom Expense Claims, mail us at marketing@mobisy.com and schedule a free demo.