Over the last year, the cost of living crisis and rising inflation rates have been felt by everyone, touching the lives of employees across the globe. A recent Harris Poll showed that over 65% of working Americans are living paycheck-to-paycheck, and employers and their benefits advisors must take notice to ensure the wellbeing of their workforce. One of the ways employers can take immediate action is by ensuring accurate and timely reimbursements, whether that be on their vehicle expenses or additional business expenses. Businesses must take the step to revolutionize their reimbursement programs to ensure employees are reimbursed in a timely fashion, easing financial pains in this economic climate. 

One powerful tool that has continued to evolve alongside the generative AI boom is real-time data analytics. By harnessing the power of data, businesses and their advisors can maximize reimbursements, reaping benefits themselves, while promoting equity and fairness among employees. This article will explore how data analytics drives these goals, transforming how businesses operate and support their workforce.

Maximizing reimbursements

In today's tech landscape, employers and their benefits advisors can no longer rely on dated, legacy systems to produce fast, quality insights. This is why data analytics has become an incredibly powerful tool for business leaders, allowing them access to quality, real-time information, helping improve operations and drive efficiency.