Write a 500-word reflection letter that describes your understanding of the primary stylistic and document design issues at stake in technical reports. The letter should: Describe how you plan to address issues of style and design in your report. And provide specific tangible actions you will take in writing your report.
Technical Report Draft
Name
Embry-Riddle Aeronautical University
Technical Report Draft
Abstract
The report aims to discuss Red Hat Software Company’s use of the expense management tool, Expensify. It seeks to demonstrate how the organization can benefit from automated expense management. The topic of discussion will include how it will affect employee productivity through the reduction of manual data entry. It will also cover the control of expenditure and prevention of fraudulent practices amongst employees.
Summary
Purpose of the report
The purpose of the report is to demonstrate the significance of using Expensify as an expense management tool. It covers the areas that can benefit from its automated capabilities as compared to a manual approach.
Research method used
Online peer-reviewed articles were used to acquire information on the topic.
Employee productivity and satisfaction
Employee productivity involves the efficiency of workers in their work output. Red Hat requires consistency in employee’s performance, which is inhibited with the manual entrance of information. Expensify saves time and effort that can be used to perform other responsibilities.
Efficient management of company expenditure
Red Hat can achieve its financial goals by controlling its expenditure. Expensify allows comparison of costs against the company’s targets to see whether its goals have been achieved. The software also generates reports on how its usage will reduce the company’s expenses.
Fraud Prevention
Expensify can detect falsified information such as duplicated receipts or identification.
Introduction
Red Hat is a successful software company that develops open-source programs for the Linux system. Handling of expenses during travel is essential as employees have to provide accurate information on their spending habits and expense claims. The paper will demonstrate that Expensify is a beneficial program that is needed to promote employee productivity and satisfaction. Also, it can curb employees that generate fake receipts for the purpose of reimbursement.
Employee productivity and satisfaction
Expensify can improve Red Hat’s productivity and employee satisfaction through its automated process. Manual data entry of expenses is a tedious task, especially when inputting information from several employees. Considering that Red Hat is a software company, time-saving crucial due to the numerous tasks that employees have to perform. Expensify uses OCR technology that transcribes receipt details on behalf of its user (Expensify). Therefore, it reduces effort and maximizes productivity. Its automated features increase worker satisfaction as information can be sent at any moment and from any location. As a result, it increases convenience while also saving time.
Efficient management of company expenditure
Expensify enables the organization to manage its costs based on its financial targets efficiently. Manual input of data is costly for employees during reimbursement as information has to be physically sent to the respective departments. Expense management programs overcome the problem through the instantaneous delivery of data (MarketWatch, 2019). Also, it generates reports that show how much the program has saved the business since its use.
Fraud prevention
Expensify allows fraud prevention by detecting errors in the data. Employees are liable to deceiving the finance department by manipulating receipts for reimbursement. The software increases security by generating alerts that require human attention due to the possibility of error or fraud (Tangredi, 2019).
Recommendations
Red Hat should ensure that employees acquire adequate training before using Expensify. Although the software is efficient, it requires extensive knowledge of its features to be fully effective.
Conclusion
Implementation of Expensify as an expense management tool would be beneficial for Red Hat. The program would increase productivity and reduce the frustration of a manual data entry approach. The company will be able to decrease costs and generate accurate reports on the amount saved by the software. Also, it would impede the chances of receipt fraud amongst employees.
References
Expensify. (n.d). Our Product. Retrieved from https://use.expensify.com/
MarketWatch. (2019). Travel And Expense Management Software Market Projected to Show Strong Growth, Expanded Technology by 2028. Retrieved from https://www.marketwatch.com/press-release/travel-and-expense-management-software-market-projected-to-show-strong-growth-expanded-technology-by-2028-2019-02-26
Tangredi, J. (2019). Reducing Costs–and the Likelihood of Fraud–Through New Expense Management Software. American Management Association. Retrieved from https://www.amanet.org/articles/reducing-costs–and-the-likelihood-of-fraud–through-new-expense-management-software/
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