1074: The Tech Transforming Employee Reimbursement For Mobile Workers
Since 2005, the mobile-enabled workforce has grown 11 times faster than the total workforce, with more than 92 million mobile-enabled workers now in the U.S. alone and a growing number of companies allowing use of personal devices to make balancing the demands of work and personal life easier.
Motus recently announced the launch of a first-of-its-kind solution that makes it possible for companies to easily and accurately reimburse employees for the business use of their personal mobile devices. As the world’s foremost experts on reimbursement, Motus developed the Fixed and Variable Rate (FAVR) reimbursement methodology.
After the IRS recognized FAVR as a tax-free reimbursement option in 1992, Motus used it to transform how companies reimburse employees for personal vehicle use. With this new solution, Motus applies the same FAVR code to mobile devices for the first time, allowing companies to fairly, accurately and compliantly reimburse employees for this rapidly growing mixed-use asset class.
As recent trends in employment law now require employers to recognize even small tasks performed by employees on their personal devices as work, fair and defensible reimbursement is more important than ever. Organizations often face legal action over inaccurate expense reimbursement – and lawsuits have begun to include disputes over accurate mobile device reimbursement.
Motus CEO Craig Powell joins me on this daily tech podcast to discuss the announcement in further detail, including why he believes this is a huge stepping stone in helping to accommodate the needs of the future workforce.
Craig also discusses how the company’s recent acquisition of Wireless Analytics made this possible and shares the strategic vision Motus has for the future of reimbursement for mobile-enabled workforces.
Craig is the visionary of Motus with experience leading companies to achieving market leadership within their industries. As President and CEO, he is responsible for the vision, strategic direction, cultivation of key relationships and tone of the winning culture at Motus.