With this new solution functionality launched by PayFit, employees can submit their expenses or expense reports in a matter of seconds by just scanning their receipts
Fremont, CA: PayFit, an integrated payroll and HR management company based in Europe, unveiled new receipt capture functionality. With this new solution functionality launched by PayFit, employees can submit their expenses or expense reports in a matter of seconds by just scanning their receipts. Employees will just have to take a snap of the receipt in the employee space, and the text gets read automatically. All the mandatory required fields are filled automatically in the software and create the expense report. After getting validated by the manager, the outstanding amount gets added to the payslip for the current month.
"We're constantly looking at ways to automate manual tasks so that employees can focus on areas where they can add the most value. Recording expenses is a hugely time-consuming process, and so many small-to-medium-sized businesses lose hours scanning receipts and manually amending payslips. We want businesses to spend that time elsewhere: on growing their team, taking care of their employees, and creating a fulfilling place to work. That's why we invent tools that make HR easier," says PayFit's UK MD Nick Miller.
The news of the launch comes against a backdrop of the steady and positive growth of the company as PayFit has expanded into new markets over the last year and has increased its team to over 500 people. PayFit has raised over $100m in funding to date and works with more than 4000 customers across four countries.
Payfit is a SaaS-based enterprise that provides HR management software products. The HR management software and its suite of products automate the payroll processes, from payslips and RTI submissions to employee expenses and leaves. With the automation of works, PayFit enables HR teams to dedicate more time working on improving the employee experience and nurture the company's culture. PayFit has a wider goal to save time taken up by manual payroll tasks.
See also: Top HR Tech Companies