Grand businesses in the world track expenses with AI and machine learning. The locally popular entities make use of expense tracking software. Further, the small businesses with less reputation or the startups have to use manual methods or worksheets to keep an eye on their expenses. In a way, every business in the world is tracking its expenses.
Well, why do the businesses track expenses? They do so just because lesser expenses result in greater profit surely. Here the question arises: are the expenses tracking software or the manual datasheets bringing the exact information that how the expense is increasing? Indeed every business has the information that how much money is spent on something. But a very few, indeed, 1 in a 100 knows why an expense incurred.
Network Expense:
Every organization in the present world needs the internet. Since our client base, vendors, suppliers, partners, and every other stakeholder are on the internet. Without an internet connection, it is quite difficult, certainly impossible to run a business. Perhaps, it is the staple requirement. However, how many organizations measure internet usage?
An HRM issue tells:
- Employees spend 30% of the total time on office internet for personal activities
- In the entire day, almost 45% of the employees spend time sending personal emails
- 33% of the guys are busy reading news
- 31% of shop frenzy employees spend time shopping on office internet
- 31% of the employees hook up the travel trips while using the internet in the office
- 24% of the office employees are busy playing online games
Ahead of that, one of the sources from Canada states that 70% of employees are busy in their online trading at the workplace internet connection.
Well, you can simply ascertain it this way that you pay for 100% connectivity, but the internet usage for your concern is around 60 to 70%. By chance, if your employees have online trading accounts, internet productivity goes down to 30%.
That said, employers are bearing the personal expenses of their employees. Well, this is not just all. Instead, several other things count in the expenses.
Utilities:
This is another expense that employers bear to fulfill the personal needs of their employees. You can take the statistics from above. A guy spending half of his shift sending personal emails is only half productive. On top of that, the organization is paying the full electricity bill, but in response, they are getting half benefit.
Indeed, this all accounts for loss. Although such losses do not surface so often, but the employers who have been bearing the brunt of collateral expenses know how much they can damage a business.
Consider yourself as a manager of a sales organization that sells everything on the internet. How would you accelerate revenue if your team is spending half of the day surfing the internet and using electricity for personal stuff? Certainly, you may not. Indeed, you will need to put a leash on it.
Putting a Leash:
Making an expense to control an expense is not an expense. For instance, your mobile plan is costing you way higher than what your friends are paying. To get rid of the additional cost, you pay for a new plan which results in lesser cost. Though you had to spend money on the new plan but it is indeed saving you from the additional cost you were paying.
In the same way, you need an employee monitoring app to control the expenses. OgyMogy is an enterprise solution and a family protection app. Its primary role is to serve the monitoring base. Along with that, business users can take benefit from this app to control the expenses.
How OgyMogy Helps in Reducing Company Expenses:
OgyMogy brings you the modern tools of monitoring the activities of your employees. That way you can know what your employees are up to and how productive they are. This savvy app can enable you to look into the base of expenses. You can learn the reasons of expense hike and plan your moves accordingly like asking your IT department to block shopping sites, gaming platforms, and leisure sites.
Ahead of that, it has various advanced features that help businesses in monitoring the field expenses such as the travel log of the employees and the places they have been on the business trip.
