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ExpenseMagic – Making Receipts Disappear

Brits are losing out financially to employers: *64% {shed|lose} out due to inaccurate claims

An independent survey commissioned by ExpenseMagic, the {business|company|organization} behind the new iPhone app for managing {function|work}-related expenses, has {discovered|found} that a high proportion (64 per cent) of employees will be out-of-pocket due to {creating|creating} inaccurate expense claims. {Nearly|Almost|Virtually} half of the employees surveyed claimed they {occasionally|sometimes|at times} {shed|lose} receipts and {frequently|often|usually} forget to claim for {specific|specific} items or travel {expenses|costs}. A further 12 per cent say they {frequently|regularly|often} {shed|lose} receipts. {3|Three} per cent even admitted they claim {much less|less} than half of their expenses {every|each|each and every} time {simply because|because|since} their records are in such a mess.

This new survey highlights just how {several|several} of us could be losing out financially to employers due to {poor|bad} management and poor handling of {enterprise|enterprise} expenses. This is further emphasised by the revelation that {much less|less} than a third of employees (33 per cent) {really|actually|truly} claim ALL of their expenses accurately.
Constant Tedder, founder of ExpenseMagic Ltd comments, “Expenses are a headache {it is|it is} {straightforward|straightforward} to {shed|lose} receipts or struggle to {locate|locate} the time to submit them. When the time comes to make a claim, {it is|it is} a nightmare sorting out lots of {various|different|distinct} pieces of paper and {acquiring|acquiring} them into a coherent order for the accounts department. This survey shows just how {poor|bad} the {present|current|existing} {procedure|process|method} is for claiming out-of-pocket expenses, which {indicates|means} that too {several|several} {individuals|people|folks} are losing out on a {normal|regular|standard} basis.”

In a bid to {decrease|reduce|lessen} the number of {people|individuals} {becoming|being} caught short on expenses claims, ExpenseMagic is a new iPhone application {becoming|being} launched {these days|today|nowadays} to take the {discomfort|pain} out of managing expenses. The user {merely|simply|just} takes a photograph of {every|each|each and every} receipt and the app automatically uploads this to ExpenseMagic.com. The image is then read by {actual|real} {individuals|people|folks} and all the {essential|important|crucial} {info|information|details} is captured. The {info|information|details} is accessible {by means of|by means of} the user’s account via their iPhone and {on-line|online|on the internet}. When the user is ready to submit an expense claim, a report can be generated with digital images of {every|each|each and every} expense which can be emailed to the employer for approval and then passed onto the accounts department for payment.

To make {issues|things|points} even {simpler|easier|less difficult} for international {enterprise|enterprise} travellers ExpenseMagic supports 30 currencies and even automatically selects the {proper|proper} currency based on the user’s location.

The ExpenseMagic App is {free of charge|free of charge} to download from iTunes and the {1st|1st} five expenses processed are {free of charge|free of charge}. Tedder continues, “The app makes it {straightforward|straightforward} to capture expenses whilst on the move, which {indicates|means} you {do not|do not} {shed|lose} out if you {shed|lose} the receipt. Expense claims can be {produced|produced} straight from the phone, streamlining the {procedure|process|method} to make {every thing|everything|every little thing} {quicker|faster} and {much less|less} painful.”

The ExpenseMagic app is {obtainable|available|accessible} to download from 5th {May possibly|May possibly} 2011. To download ExpenseMagic for {free of charge|free of charge}, please {go to|visit|pay a visit to} iTunes: http://itunes.com/app/expensemagic
and for {a lot more|a lot more} {info|information|details} go to www.expensemagic.com
Notes to editors:

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