What are the real costs of lack of real‑time financial data?

Without real‑time financial data, organizations face delayed budget visibility, inability to detect overspending early, slower decision‑making, surprise deficits, and potential cash flow issues. Financial planning becomes reactive rather than proactive, increasing risk and cost.

Why should I automate expense reporting and time tracking?

Manual expense reporting and time tracking waste valuable employee time, lead to human error (such as double entries or miscalculations), pose compliance risks, and fail to provide the immediacy of data needed for effective financial oversight. Automation improves accuracy, speed, and insight.

How does policy enforcement in expense management help reduce costs?

Automated policy enforcement helps ensure that expenses adhere to company rules before they become liabilities. This prevents costly compliance violations, minimizes errors from manual oversight, and reduces the administrative burden of catching and correcting mistakes after the fact.

How much time is wasted with manual expense and time‑reporting processes?

A significant amount: employees spend extra hours entering information manually; managers spend more time reviewing and approving; corrupted data or errors consume additional hours in correction. All that adds up to lost productivity and higher operational costs.

In what ways do manual methods increase error risk and compliance exposure?

Manual data entry is error‑prone—mistakes in numbers, duplicate entries, missed policy rules. Also, without audit trails or automated checks, it's easy for violations or oversights to go unnoticed, which can lead to financial misstatement, regulatory penalties, or internal control failures.

Why Manual Expense Reporting Is Costing You More Than You Think

TL;DR:

Manual expense reporting and time tracking waste time, cause errors, and increase compliance risks. Automating with DATABASICS, integrated into Microsoft Dynamics 365 through TMC, streamlines processes, improves accuracy, delivers real-time insights, and saves money. TMC ensures expert guidance, seamless integration, and ongoing support so businesses can eliminate hidden costs and optimize financial operations.

Inside this Article

How does manual expense reporting lead to compliance risks?
What are the real costs of lack of real-time financial data?
How can integrating time tracking with expense reporting improve accuracy and visibility?

Are you still using outdated, manual methods for expense reporting and time tracking? If so, you might be surprised to learn that these methods can actually cost your business more money without you even realizing it.

Manually tracking expenses and timesheets is not just slow and tedious, but it also leads to mistakes, compliance issues, and higher costs overall.

The good news is that switching to automated solutions like DATABASICS, integrated with Microsoft Dynamics 365, can solve these problems and make your entire process more efficient. Working with a Value-Added Reseller (VAR) like TMC helps organizations choose the correct ERP solution, implement it smoothly, and provide connections to trusted third-party tools like DATABASICS. This way, businesses get the best of both worlds: ERP functionality and specialized solutions.

The Drawbacks of Manual Expense Reporting and Time Tracking

Time-Consuming

When employees manually enter expenses and timesheet information, it wastes valuable time that could be spent on more productive tasks. Managers also need to check everything, which further eats into valuable work hours.

Error-Prone

Manual entry opens the door to human errors such as double entries or incorrect calculations. These mistakes can create inaccurate reports, disrupt audits, and damage financial accuracy.

Compliance Risks

Tracking company policies manually is nearly impossible. Errors or policy violations can result in fines and reputational damage.

Lack of Real-Time Data

Manual methods make it difficult to access real-time financial data, leaving organizations without a clear picture of their budgets or spending patterns.

How TMC and DATABASICS Can Help

Expert Guidance

By partnering with TMC, organizations gain expert guidance during ERP selection and implementation. This ensures seamless integration of Microsoft Dynamics 365 with tools like DATABASICS.

Seamless Integration

TMC connects ERP systems with vetted third-party integrations like DATABASICS, ensuring one complete, unified system instead of disconnected tools.

Ongoing Support

TMC provides ongoing support as your business needs evolve. Their team ensures your automated expense and timesheet solutions remain aligned with organizational goals.

Industry-Specific Optimization

With TMC, you’re not just getting software—you’re getting tailored advice on the best ways to manage your financial data, optimized for your industry.

The Benefits of Integrating Expense Reporting and Time Tracking

Improved Visibility: Linked expense reporting and time tracking provide a single, clear view of company spending.
Increased Accuracy: One integrated system reduces errors and ensures consistency.
Streamlined Processes: Employees only need to learn one system, saving time and reducing frustration.
Real-Time Insights: Access to live data supports better budgeting, planning, and decision-making.

Key Features of DATABASICS Integrated with Microsoft Dynamics 365

Automated Data Capture

Cut down on mistakes and speed up processes by automating data entry. Integration ensures financial and HR tools work together seamlessly.

Policy Enforcement

Set up automated policies that catch compliance mistakes before they become costly problems.

Configurable Dashboards

Create customized dashboards to track both expense reports and timesheets in one place.

Streamlined Approvals

Automate approvals to avoid delays and keep workflows moving efficiently.

AI-Driven Solutions

Use AI to gain predictive insights, identify inefficiencies, and optimize processes over time.

Conclusion

The bottom line is simple: manual expense reporting and time tracking are costly and risky. Automation saves time, improves compliance, and reduces hidden costs.

Working with a VAR like TMC ensures you pick the right ERP system, implement it correctly, and integrate third-party solutions like DATABASICS seamlessly.

Find out how TMC can help you set up the perfect ERP solution with DATABASICS integration to streamline your financial operations. Contact us today to learn more.