- Author: Staff writers
- Posted: March 29, 2023
Is ‘spending anxiety’ impacting your organisation?
It’s no secret that managing expenses can be a headache for both employees and finance leaders. From lost receipts to delayed reimbursements, the process can leave everyone feeling dissatisfied. But fear not, my fellow CFOs and finance leaders, for Weel has heard our cries of frustration and has answered with their latest product – a mobile app reimbursements tool.
Weel’s research has uncovered that a significant number of employees, especially those under 24 years old, experience anxiety around the expense management process. Nothing sends young team members into a spiral of panic and angst than trying to track down a receipt from three weeks ago. And it seems they are not alone, as over a third of employees across all age groups feel dissatisfied with their employer as a result of their reimbursement process.
Enter Weel’s mobile app reimbursements tool. This innovative solution prioritizes ease of use and fast repayments to make the expense process friction-free for all employees, including the lowest volume spenders. And let’s be real, who doesn’t love getting reimbursed in real-time? With Weel leveraging Osko payment technology, employees can receive their reimbursements in real-time after approval. Say goodbye to delayed payments and hello to happy employees.
But it’s not just employees who benefit from Weel’s latest offering. Daniel Kniaz, Co-Founder and CEO of Weel, highlights that the consequences of delayed or non-existent reimbursements can negatively impact a business’s essential projects, client experience, and employee retention. With Weel’s mobile-first reimbursement tool, finance leaders can streamline the reimbursement process, ensuring that every expense is accurately captured, managed, and reported on.
“The flow-on effect of not being paid back on time, or sometimes at all, does not end with the employee… It can delay essential projects, feed into poor client experience, and lead to employee attrition within a business. This is why ease of use and fast repayments were key considerations when building reimbursements.”Daniel Kniaz, Co-Founder & CEO | Weel
Weel’s mobile app reimbursement tool is the first of its kind in any Australian spend management product, designed to work in tandem with Weel’s smart virtual cards. This ensures that all types of spenders have access to the right tools to make company purchases.
So, fellow CFOs and finance leaders, let’s raise a glass to Weel and their innovative solution for managing expenses. With the potential to revolutionize the way businesses manage their expenses, Weel’s latest offering promises to deliver significant benefits to businesses of all sizes. And let’s face it, anything that can make the expense process less stressful is a win in my book.